Yangzijiang Shipbuilding Orders in 2020 Total USD 517 M

Yangzijiang Shipbuilding Orders in 2020 Total USD 517 M

June 23, 2020

Yangzijiang Shipbuilding secures new orders worth USD 102 million, bringing total new orders in 2020 to USD 517 million. The four new orders include two LNG-tank carriers placed by Tiger Gas and two 56,000DWT bulk carriers from Shanghai Ganglu Shipping. 

China-based Yangzijiang Shipbuilding, announces that it secured new shipbuilding orders for four vessels recently worth approximately USD102 million in total. These orders include two LNG-tank carriers and two 56,000DWT bulk carriers. With these orders, the Group has secured a total of USD517 million worth of orders so far in 2020.

The orders for the two 56,000DWT bulkers were in RMB, and the conversion is based on USD/RMB rate of 7.08 as of June 22, 2020

The orders for the LNG-tank carriers were placed by Tiger Gas of Hong Kong, with the options for eight more such vessels. The vessels will be jointly designed by Yangzijiang and Tiger Gas with claims they will have a strong focus on environmental protection and energy efficiency features. The vessels will be fitted with dual-fuel engines, capable of carrying heavy-lift cargo for both Yangzi River and ocean going. The first vessel is scheduled to be delivered in early 2022.

The orders for the two 56,000DWT bulk carriers were placed by Shanghai Ganglu Shipping Co, a Chinese shipowner and a first-time customer of Yangzijiang. These vessels will be utilised in the transportation of domestic trade in China, and will be designed by Shanghai Merchant Ship Design & Research Institute. The vessels are scheduled to be delivered by March 2022 to Shanghai Ganglu.

Yangzijiang Shipbuilding Executive Chairman Ren Letian says the recent order wins reflected the significance of having a good reputation and a strong foothold in the Chinese shipbuilding market, while the economic disruption caused by COVID-19 lingers globally.

“The LNG-tank carriers are the second major orders from Tiger Group, thanks to the confidence and trust of the key shareholder of the customer has in us. The development of this new generation of vessels will also help us grow our R&D capabilities with a focus on ‘green’ features. It is also encouraging to have Shanghai Ganglu as a new customer, whereby expanding the base of our Chinese customers further. We will deliver the vessels of top-notch design and quality to the customers in return for their trust and support. As an operational update, our work divisions have been running on extended shifts where possible, achieving major milestones in the shipbuilding. Yesterday, our inaugural 12,600TEU containership has started its trial voyage in the Yangtze River ahead of its scheduled delivery in July, as the largest trial voyage vessel in the Yangze river this year. I am proud that we have made one technological breakthrough after another, in the pursuit of becoming a top-class shipbuilder in the world.” Measuring 332 meters long and 48 meters wide, the 12,600TEU containership was designed and built with world-leading specifications in terms of reliability and efficiency,” says Letian.

(Ed. Established in 1956, Yangzijiang Shipbuilding is one of the largest private shipbuilding companies in China. The Group listed on SGX Mainboard in April 2007.  With four shipyards in Jiangsu Province, China along the Yangtze River, the Group produces a broad range of commercial vessels including large containerships, bulk carriers and LNG carriers. For more information please click here.) 

Facebooktwitterredditlinkedin

Leave a Reply

Your email address will not be published. Required fields are marked *