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Yangzijiang entered into 13 shipbuilding orders in Q4, 2014

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Mainboard-listed Chinese firm Yangzijiang Shipbuilding on Monday announced it had entered into 13 shipbuilding orders in the fourth quarter of 2014, of which nine were effective orders with a total contract value of US$388 million.

MAINBOARD-LISTED Chinese firm Yangzijiang Shipbuilding on Monday announced it had entered into 13 shipbuilding orders in the fourth quarter of 2014, of which nine were effective orders with a total contract value of US$388 million. These include two units of 10,000 twenty-foot equivalent units (TEU) exercised from existing options and seven new shipbuilding contracts consisting of four units of 36,500 deadweight tonnage (dwt) bulk carriers, two units of 2,700 TEU containerships and one unit of 64,000 dwt bulk carrier.

The four remaining orders were new options with an aggregate value of US$122 million for two units of 36,500dwt bulk carriers and two units of 2,700 TEU containerships.

The contracts are scheduled for deliveries starting this year till 2017, and do not have any significant impact on the earnings of the group for the financial year ended Dec 31, 2014.

These new orders bring Yangzijiang's total effective shipbuilding contracts in 2014 to 41, with an aggregate value of S$1.8 billion, and six outstanding options - two units of 10,000 TEU containerships, two units of 36,500dwt bulk carriers and two units of 2,700 TEU containerships - which have been carried forward to this year.