News

Shipping & Marine

Frances Gagua

, Singapore

Published:

5 years ago

YZJ Shipbuilding secures new orders worth $342m

Hong Kong’s SITC has placed an order for 12 containerships.

SGX-listed Yangzijiang Shipbuilding has entered into an agreement with Hong Kong-headquartered shipping logistics company SITC International to build and deliver 12 1,800 TEU containerships worth $342.18m (US$252m) in total, according to an SGX filing.

Six vessels are firm orders worth about $171.1m (US$126m) in total, to be delivered between Q2 2022 and Q1 2023. The remaining six will be option orders for identical vessels, to be exercised in three stages.

Since its latest results announced in 5 August, Yangzijiang has also secured orders for two 82,000DWT dry bulkers. With these latest orders, the group has so far secured new orders for 23 vessels worth approximately $950.5m (US$700m) in 2020.

SITC has been a customer of Yangzijiang for four years. It is the 17th largest container shipping companies globally in terms of shipping capacity, according to data from Alphaliner. Currently, the company operates 82 containerships currently, 57 of which are self-owned.

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