Yangzijiang, Tsuneishi Form Joint Venture with $117m Investment

Singapore-listed Yangzijiang Shipbuilding, China's largest private shipbuilder, has announced a joint venture with Japan’s Tsuneishi Holdings. As part of the agreement, Yangzijiang will acquire a 34% stake in Tsuneishi Group (Zhoushan) Shipbuilding through a private share allotment valued at $117 million.

The two companies have a history of collaboration, particularly through their joint venture, Jiangsu Yangzi-Mitsui Shipbuilding (YAMIC), which has strengthened ties in the shipbuilding industry.

Tsuneishi, one of Japan’s leading shipbuilders, operates shipyards not only in Zhoushan, China, but also in the Philippines.

Yangzijiang CEO Ren Letian commented, “This new joint venture will bring together our strengths in research and development, shipbuilding, and supply chains. By combining our expertise, we’ll advance the latest shipbuilding technologies, enhance efficiency, and achieve great results together.”