With the gradual recovery of the global ship market, the new shipbuilding market ushered in the order boom. According to incomplete statistics, in this context, including Yangzijiang Shipbuilding, New Times Shipbuilding, Hengli Heavy Industries, Wuhu Shipyard, Wison New Energy and other shipbuilders have chosen to expand production capacity to meet the needs of orders. In addition, many bankrupt shipyards, such as Dalian Shipbuilding & Offshore (DSOC) and Sainty Shipbuilding (Yangzhou), ushered in a rebirth to seize a new round of market opportunities.
Yangzijiang Shipbuilding: Yangzijiang Shipbuilding plans to invest RMB 3 billion in the next two years to build the Yangzi Hongyuan green high-tech clean energy ship manufacturing base. With a shoreline length of 1320 meters, the base covers an area of about 1300 mu, to build a 300,000-ton shipbuilding dock, a 200,000-ton outfitting dock, a 100,000-ton port pool, the annual production capacity of about 800,000 deadweight tons, which is expected to be completed and put into operation by the end of 2026. At the same time, Yangzijiang Shipbuilding has reached a joint venture agreement with Japan’s Tsuneishi Group to acquire 34% of the equity of Zhoushan Tsuneishi Shipbuilding through a non-public rights issue, and after the completion of the rights issue, Zhoushan Tsuneishi Shipbuilding will become an associate company of Yangzijiang Shipbuilding.
New Times Shipbuilding: New Times shipbuilding plans to invest RMB 5 billion to develop new energy ship intelligent manufacturing project (Phase I) project. The first phase of the project plans to build intelligent manufacturing workshop and other workshops, while transforming the original coating room and intelligent production line;the company planned to add workshop, 110,000 volt substation, air compressor station, liquid oxygen gasification station, propane gasification station, LNG gasification station, carbon dioxide gasification station and other workshops and auxiliary rooms; and to purchase intelligent technology and large gantry crane and other intelligent equipment, and plan to build a dock, a river pier. The new dock is 700 metres long and can build two VLCCS side by side and accommodate two VLCC half-ship sections side by side. Upon completion, New Times Shipbuilding will have four dry docks.
Hengli Heavy Industries: Formerly known as STX Dalian Shipbuilding, Hengli Heavy Industry Group, a subsidiary of Hengli Group, acquired STX Dalian Shipbuilding at a price of RMB 2.11 billion in July 2022.
In the fourth quarter of 2022, Hengli Heavy Industries officially restarted the shipbuilding business; At the beginning of 2023, Hengli Heavy Industries Park was fully put into operation. On April 18, 2024, Hengli Heavy Industry delivered the first ship after restarting the shipbuilding business. In July 2024, Hengli Heavy Industry launched the second phase of Hengli Heavy Industry Park with an additional investment of RMB 9.2 billion (currently under construction), focusing on expanding high-value-added green ships and high-end offshore equipment manufacturing businesses such as VLCC, VLGC, large container ships, FPSO, offshore floating wind power, and drilling platforms with an annual steel processing capacity of 1.8 million tons and the annual output of 7.1 million deadweight tons will be formed. At the same time, Hengli Heavy Industries announced an additional capital of RMB 2 billion to build Hengli Heavy Industries (Dalian Changxing Island) supporting industrial park.
Wuhu Shipyard: In May 2024, Wuhu Shipyard (Weihai) Green Marine Technology Industrial Base was officially put into operation, with an investment of RMB 2 billion. The Weihai base is mainly engaged in ship construction, design, repair, offshore engineering equipment and offshore wind power equipment development, covering an area of 460,000 square meters. It has one 100,000-ton dock and two 50,000-ton slipways, mainly building 3000-9000 CEU PCTCs, 50,000 DWT MR tanker, 80,000 DWT of Panamax bulk carriers and other ships, with a total planned capacity of 800,000 deadweight tons.
On August 22, 2024, Wuhu Shipyard Chizhou Intelligent Green Shipbuilding Base Project was signed. The base focuses on the research and development and manufacturing of green intelligent ships in inland rivers and offshore waters, and plans to build a green intelligent ship base with ship research and development and manufacturing as the core, power replacement operation, ship maintenance, dismantling, and circular economy as one.
Wison New Energy (WNE)：Wison Nantong Base Upgrade project started in March 2023 and was completed at the end of November. It consists of four parts: a new spraying workshop, SPB tank assembly workshop, 2000t×200m shipbuilding gantry crane and dock expansion. The total construction area of the coating workshop exceeds 10,000 square meters, and the annual spraying capacity of Nantong base has increased from 500,000 square meters to 1.2 million square meters. SPB tank workshop has a total construction area of more than 25,000 square meters, with an annual output of 16 SPB tanks of 50,000 cubic meters; One new 2000t×200m shipbuilding gantry crane will be built; The length of the dock was extended from 290 meters to 370 meters.
The WNE Qidong Base covers about 1.2 million square meters, and Phase I contains a shoreline length of 1370m with an excavated deep-water harbor basin. According to the development plan, there will be a 520m x 110m offshore dock, along with a 2,000t gantry crane. This yard will also have a module assembly area of 150,000 square meters equipped with a 1200t gantry crane, a berth for lifting and shipping modules up to 5,000t , and a RORO shipping terminal for modules up to 10,000t. Wison Qidong Yard will be able to process 250,000 tons of steel per year by the time its Phase I is built and put into operation in Q4, 2025.
Nantong Xiangyu Shipbuilding & Offshore Engineering Co., Ltd. (XMXYG SOE) announced that on August this year, XMXYG SOE successfully bid for the core assets of Jiangsu Hongqiang marine Heavy Industry Co. This move will open up a new construction base for XMXYG SOE, boosting the company’s production capacity and product optimization, and better seizing the opportunities in the shipping market. According to the estimation, the annual production capacity of XMXYG SOE is expected to increase by 60% after the project is put into production.
Jiangsu Hongqiang marine Heavy Industry is located in Qidong City, at the mouth of the Yangtze River and across the river from Shanghai Chongming Island. The bidding assets include 56,352.42 square meters of housing buildings, one wharf, three 50,000-100,000-ton ship slipways, 682.3 meters of Yangtze River shoreline usage rights and related equipment and patents owned by the company.
