1 Min ReadImage: Yangzijiang ShipbuildingSingapore-based Yangzijiang Maritime Development announced that it has sealed vessel leasing agreements for 13 ships with a combined contract value of SGD114.17m ($89.8m).The transactions cover 12 oil, chemical and product tankers, as well as one anchor handling tug supply (AHTS) vessel, with lease terms spanning from one to eight years.The company said that these long and short-term leasing contracts are expected to generate stable recurring revenue throughout the lease periods, barring any unforeseen disruptions.Ren Yuanlin, CEO of Yangzijiang Maritime, said: “The fundamental outlook for the maritime industry remains resilient, underpinned by structural shifts in trade dynamics. We are observing a significant ‘tonnage-mile’ effect as geopolitical tensions force vessels to navigate longer, more complex routes, thereby limiting the capacity of global shipping."The contraction in constrained shipyard capacity, evolving maritime conditions and sustained demand from global trade flows have necessitated a vital fleet renewal cycle to maintain the seamless flow of international commerce, providing a highly favourable environment for our maritime asset portfolio.Related:Weekly tanker and dry bulk time charter rates - April 15“With a robust growing fleet of 85 vessels including newbuilding orders, Yangzijiang Maritime is well-positioned to take advantage of the opportunities from the global maritime industry,” said Ren.About the AuthorChina CorrespondentChina-based Katherine Si has worked in the maritime industry since 2008 is well-connected with local industry players including Chinese owners and yards.Having majored in English Katherine started at news portal ShippingChina.com where she rose to become a News Editor. In 2008 she moved to work with Seatrade and has since held numerous positions including China correspondent for Seatrade Maritime Review magazine.With extensive experience in writing, research and social media promotion, Katherine focuses on the shipping and transport sectors.