Mainboard-listed, China-based shipbuilding group Yangzijiang Shipbuilding (YZJ) has secured new orders for the building and delivery of twelve 1,800TEU containerships from SITC International Holdings Co (SITC).

The agreement, which was signed on August 30, is worth a total of US$252 million ($342.2 million).

Out of the orders for the 12 vessels, six are firm orders worth US$126 million. These are accompanied by six option orders for identical vessels, to be exercised in three stages, two options each.

The six firm orders will be delivered between 2Q22 and 1Q23.

Adding to the new order update, YZJ has also secured orders for two 82,000DWT dry bulkers.

This brings the group’s new orders to 23 vessels year-to-date. The orders for the vessels are worth approximately US$700 million (not considering the value of the option orders).

“This is the fourth batch of orders that SITC placed with Yangzijiang, and it is an endorsement from SITC on the quality of our vessels and customer service. These orders signified the precious bond and trusted partnership between SITC and Yangzijiang, as we tackle the challenges shoulder to shoulder in the COVID-19- induced economic downturn,” says Ren Letian, executive chairman and CEO of the group.

“Over the past decade, Yangzijiang has established a rich portfolio of containership products, from the smaller ones to 10,000TEU, 11,800TEU and 12,690TEU containerships for some of the major shipowners in the world. With outstanding loading capacity, energy efficiency and reliable performance, these vessels have earned very positive feedback for Yangzijiang,” Ren adds.

Shares in YZJ closed 0.5 cent higher, or 0.5% up, at 91.5 cents on August 31.