Yangzijiang bags new shipbuilding orders worth US$510 million

CHINESE shipbuilder Yangzijiang Shipbuilding (Holdings) has clinched new orders for dry bulk carriers worth US$510 million altogether from a Chinese state-owned enterprise, it said in a Singapore Exchange filing Wednesday morning.

The orders for six 400,000 DWT very large ore carriers (VLOCs) were awarded in April 2016 by ICBC Leasing, a wholly owned subsidiary of ICBC, China's largest state-owned commercial bank, Yangzijiang said.

It said these VLOCs are the largest dry bulk carriers that Yangzijiang has ever gotten orders for, and are scheduled for delivery from 2018 to 2019.

They are part of the 30 VLOC orders "placed by major Chinese ship owners, including ICBC Leasing, after they entered into the contract of affreightment (COA) with mining group Vale to transport iron from Brazil to China over a period of up to 27 years", it added.