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Yangzijiang Maritime Development Expands Fleet Portfolio; Shares Up 5%

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-- Yangzijiang Maritime Development (SGX:8YZ) expanded its fleet portfolio with 10 additional newbuilds, according to a Monday filing with the Singapore Exchange.

Shares of the ship leasing company were up nearly 5% in Tuesday trading.

The fleet includes four new crude tankers, four oil/chemical tankers and two new bulk carriers, scheduled to be delivered in 2028 and 2029.

Following the delivery, the company's total fleet will increase to 105 vessels and is expected to improve earnings visibility.

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