Reflecting the strong demand in the new building market, Yangzijiang Shipbuilding, a private Chinese shipbuilder, has reported impressive financial gains and now holds a substantial order book valued at $20 billion. This substantial backlog underscores the company's success in securing major contracts and highlights the ongoing growth and opportunity within the global shipping industry. Yangzijiang, the Singapore-listed shipbuilding giant, has had a stellar first half of 2024. They reported a net profit of RMB3.06 billion (around $536.18 million), marking an impressive 77% increase from the same period last year. Their revenues reached RMB13.0 billion, up 15.3% year-on-year. A significant chunk of this growth came from their core shipbuilding segment, which made up a whopping 95% of their total sales. This surge is thanks to a boost in construction activities and improved pricing for new build vessels. Moreover, the group has recently received the government approval to convert its fully-owned chemical terminal along the Yangtze River into an LNG terminal. This project, together with the construction of a new LNG storage tank facility, will enable Yangzijiang to develop a comprehensive LNG logistics hub with storage and distribution capabilities.