---
title: "Cycle turns for Yangzijiang Shipbuilding, Poseidon deal under spotlight"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284453029.md"
description: "Yangzijiang Shipbuilding (Holdings) Ltd. reported a moderation in order momentum, although its yards are booked through 2029, ensuring near-term earnings visibility. The company is prepared to idle production if market conditions weaken, with margins expected to face pressure from softening newbuild prices. The proposed acquisition of Poseidon Corp. aims to strengthen ties with Seaspan and enhance order visibility. Yangzijiang has not experienced disruptions from the Middle East conflict but is monitoring potential impacts. Governance issues were raised regarding directors' fees, with the company relying on internal benchmarking for FY2025."
datetime: "2026-04-28T21:30:59.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284453029.md)
  - [en](https://longbridge.com/en/news/284453029.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284453029.md)
---

# Cycle turns for Yangzijiang Shipbuilding, Poseidon deal under spotlight

**The shipbuilder said order momentum has “moderated from its peak.”**

Yangzijiang Shipbuilding (Holdings) Ltd.’s detailed replies to the Securities Investors Association (Singapore) have revealed early signs of a moderating shipbuilding cycle, even as the group moved to justify a closely watched acquisition and its board practices.

In a bourse filing on 25 April, the shipbuilder said order momentum has “moderated from its peak,” although its yards remain largely booked through 2029, providing near-term earnings visibility.

The company added that it is prepared to idle selected production capacity if market conditions weaken.

Margins are also expected to come under pressure as newbuild prices soften and input costs normalise, suggesting profitability could ease even before order volumes decline.

Questions on the proposed acquisition of Poseidon Corp., particularly its valuation and timing, have also been asked.

Yangzijiang said the deal would deepen ties with Seaspan, one of its key customers, improving order visibility and allowing greater participation in fleet renewal decisions, including alternative fuel adoption.

The board said it relied on independent valuation methods, including discounted cash flow analysis, and noted that the transaction was conducted alongside other buyers at a consistent price.

Moreover, the group said it has not seen direct disruption from the ongoing Middle East conflict on orders or deliveries so far, although it is monitoring potential knock-on effects on tanker demand and raw material costs.

The exchange with SIAS also highlighted governance issues, including a proposed increase in directors’ fees.

Yangzijiang said it did not appoint an external remuneration consultant for FY2025, instead relying on internal benchmarking using publicly available data.

It also maintained its long-standing approach of paying uniform fees to non-executive directors, arguing that responsibilities are shared and periodically rotated across the board.

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