Yangzijiang announces contract wins worth $444.3 mil for 1Q17

Yangzijiang announces contract wins worth $444.3 mil for 1Q17

Michelle Zhu
03/04/17, 08:15 am

SINGAPORE (April 3): Yangzijiang Shipbuilding Holdings says it has secured 13 new shipbuilding contracts totalling US$318 million ($444.3 million) to its order book for the first quarter of 2017.

The contracts comprise five units of 82,000DWT bulk carriers, five units of 62,000DWT woodchip carriers, two units of 1,800TEU containerships and a single unit of 6,500DWT ConRo Vessel.

In a Monday premarket statement, the group says all contracts are scheduled for deliveries from between 2018 and 2020, and ensure optimal usage of Yangzijiang’s yard facilities until 2018-2019.

“We continue to strive hard to bolster our order book and delivery track record, exploring any feasible opportunities where there is demand. While the oversupply in global shipping and shipbuilding industries is still in a rebalancing process, we see signs of recovery in the second hand vessel market and the bulk carrier market,” comments executive chairman Ren Yuanlin, who adds that he remains cautiously optimistic on such developments.  

“Yangzijiang remains resilient and profitable, backed by a strong financial position. We will make our best efforts to deliver quality vessels on schedule and we remain confident that Yangzijiang will endure the headwinds to prevail as one of the strongest shipbuilding entities in China,” he adds.

Shares of Yangzijiang closed flat at $1.13 on Friday.





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