,Singapore

Yangzijiang secures US$1.08 b orders for 12 vessels in July

It has also signed a letter of intent for five units of another vessel. 

Yangzijiang Shipbuilding (Holdings) Ltd. has secured orders for 12 vessels in July for US$1.08b.

Broken down, Yangzijiang secured agreements for the building and delivery of 10 units of dual-duel 7,000 twenty-foot equivalent unit (TEU) containerships and two units of 50,000D deadweight tonnage (DWT) medium-range tankers for US$1.08b.

The company has also signed a letter of intent for additional five units of dual-fuel 7,000 TEU containerships in July and is expected to be effective in August.

The 15 units of dual-fuel 7,000 TEU containership were placed by Seaspan Corporation which will be delivered between 2023 and 2024.

These containerships will be fitted with Type B liquified natural gas (LNG) fuel tanks, wherein the shipbuilding participated in the design of the LNG fuel storage, supply system, and tanks as part of its research and development.

Ren Letian, executive chair and CEO of the Group, said the securing of contracts for LNG dual-fueled vessels with LNG systems jointly designed by the company is a “history-making moment” for the group.

“This momentous achievement has placed Yangzijiang amongst the playing field of other shipyards that were known to enjoy a monopoly over the construction of dual-fuel engine vessels, and this was only possible through our continuous R&D efforts,” he said. "As the shipping industry moves towards sustainable development and pivots to carbon-neutrality, we are confident that more shipowners will opt for such vessels to ensure functionality and relevance of newly built vessels and we are optimistic in clinching more of such orders.” 

The group has so far secured new orders for 112 vessels worth US$6.67b this year, excluding the letter of intent for five units of LNG dual-fuel vessels, the largest order wins of the group based on total contract value since 2007.

Yangzijiang also currently has an order book of US$8.74b for 170 vessels which remains record-high in its history.

“The group remains confident in securing more order wins amidst continued favourable market sentiments,” it said, adding that the securing of LNG dual-fuel vessels will strengthen the company’s foothold in the LNG market and will be a foundation for growth and expansion.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

HongKongLand had the most growth for the day.
It surpassed the Bloomberg consensus estimate of 14.5%.
The agreement aims to grow tourism and economic activities as borders reopen. 
It will also enter a loan agreement worth $210.6m.
The acquisition will be fully funded by cash through internal resources.
These countries are Cambodia, the Maldives, Sri Lanka, Thailand, and Turkey.
The decrease was driven by profit declines in their beer and non-alcoholic businesses.
Sources say the state-owned Chinese firm is in talks with advisers about the potential divestment.
The tests start on 29 November.
Exercise CyberMaritime 2021 puts the sector's cybersecurity readiness to the test.
This is equivalent to 236 attackers per company in a year.
Genting Singapore was seen with the most growth.
The partnerships aim to improve care delivery and patient outcomes.