Yangzijiang Maritime posts 29% drop in H1 net profit to US$44.9 million

Yangzijiang Maritime reported a significant 29 percent decline in net profit to US$44.9 million for the first half ended June 30, 2026, compared to US$63.5 million in the same period last year. Despite a 49 percent year-on-year increase in total income to US$81.6 million, driven by stronger contributions from its maritime fund assets, the earnings were negatively impacted by higher operating expenses related to expanding these assets and foreign exchange losses.

Earnings per share fell to US$0.0129 from US$0.0183. The company did not declare any dividends this half-year, adhering to its annual dividend policy. Maritime fund assets generated income of US$50 million, a 64 percent year-on-year increase, fueled by higher charter income and finance lease interest income. However, total expenses surged 152 percent to US$32.7 million, with operating costs of maritime fund assets rising to US$26.9 million due to higher oil prices, increased transit fees, altered chartering strategies, and elevated vessel depreciation.

Other losses increased to US$5.6 million, reversing from gains of US$16.1 million in the previous half-year. The net asset value per share as of June 30, 2026, was US$0.4747, up from US$0.4657 as of December 31, 2025. The maritime industry is anticipated to undergo further structural changes due to stricter capital conditions in Western markets and the International Maritime Organization's accelerating decarbonisation requirements.