China's Jiangsu Yangzi Xinfu Shipbuilding, a subsidiary of Yangzijiang Shipbuilding Group, China's largest private shipbuilding group, plans to deliver nine vessels totalling 1.3 million deadweight tonnes, including one 32,000-dwt bulk carrier and eight 16,000-teu dual-fuel container ships, according to the local government website for Taizhou, Jiangsu.

Yangzi Xinfu is expected to post annual sales revenue exceeding 10 billion yuan ($1.4 billion) and tax contributions surpassing 700 million yuan ($98 million). Between January to September, the company is said to have delivered seven vessels, generating 8.05 billion yuan ($1.13 billion) in revenue.

As of now, the shipbuilder holds orders for 46 vessels totalling 7.7 million DWT, with a contract value of nearly $8.9 billion ($1.25 billion). The construction schedule is fully booked until May 2029, the announcement said.

The news comes as the 175,000-cbm Xinfu124, built by Yangzi Xinfu in Taixing, commenced ocean trials on November 20. It is the first ultra-large LNG carrier to be built by a private enterprise in China.

The vessel measures 297 metres in overall length, with a beam width of 46 metres and a depth of 26.5 metres. It is equipped with a dual-engine, dual-propeller propulsion system and has a daily evaporation rate of 0.085%, according to the announcement.