Yangzijiang Shipbuilding, a globally-leading shipbuilding group based in China, has entered into a joint venture agreement with Japanese shipbuilders Mitsui E&S Shipbuilding (MES-SC) and Mitsui Co to establish a new shipbuilding company in China.

RenYuanLin2 9.11.2016Ren YuanLin, executive chairman of Yangzijiang Shipbuilding. NextInsight file photoThe registered share capital of the New Joint Venture will be up to USD99.9 million, and total capital expected to be employed could amount to USD299 million.

Singapore-listed Yangzijiang will hold a 51% stake in the New Joint Venture which will focus on the construction of a wide range of commercial vessels. It will have its production base at Yangzijiang’s existing Taicang yard in Jiangsu, China, and is expected to commence operations in April 2019.

Stock price



84 c – $1.74

PE (ttm)


Market cap

S$5.2 b

Shares outstanding

3.95 b



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Source: Bloomberg

"The New Joint Venture is expected to consolidate MES-SC’s advanced shipbuilding technology and our cost-effective shipbuilding capability. We are optimistic on China’s demand for LNG import and LNG carriers," said Mr. Ren Yuanlin (任元林), Executive Chairman, Yangzijiang Shipbuilding (Holdings) Ltd. 

"The establishment of the New Joint Venture will enhance YZJ Group’s competitiveness and preserve the dominant position for Chinese shipbuilders in the ongoing consolidation of the global shipbuilding industry."

MES-SC said the joint venture would also benefit from Mitsui's extensive sales capabilities: “Taking advantage of its technology that has been accumulated in the 101 years since its founding, MES-SC will continue to provide new value as a manufacturing company that meets the demands of a range of customers in the ship and marine industry.” 

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