Jianglong Shipbuilding Signs $40M Vessel Construction Deal

Chinese workboat and specialist vessel builder Jianglong Shipbuilding Technology has signed contracts worth $40 million to build two 78-meter multi-purpose offshore supply vessels for an undisclosed customer, with deliveries scheduled for 2028.

The first vessel is due to be delivered on or before June 19, 2028, followed by the second on or before August 18, 2028. Payments will be made in installments as construction progresses.

The contract value, which excludes owner-supplied items, is equivalent to about $40 million (269.5 million yuan) and represents 38.35% of Jianglong Shipbuilding's audited operating revenue for 2025.

The contracts were signed on September 29 and took effect upon signing by both parties.

Jianglong did not identify the customer, citing trade secrets and potential competitive harm. The customer has had no purchase or sales transactions with Jianglong during the past three fiscal years and is not a related party, the company said.

The contracts are not expected to have a material impact on Jianglong's operating performance in 2026, but are expected to contribute positively to its results in future years if successfully performed.

Jianglong said the orders expand its offshore equipment business and represent a further step in its expansion into international markets.