CHINESE yard Yangzijiang Shipbuilding has secured 18 new orders to take its newbuild contracts for this year past the US$1 billion mark.

The orders for the 18 new vessels secured in March are worth a total of US$815 million and are in addition to the eight new orders the group announced in February - bringing its year-to-date effective new orders to 26, with a total value of US$1.07 billion.

The new orders the group announced yesterday comprise two 82,000 DWT and one 208,000 DWT bulk carriers, four 10,000 TEU containerships converted from existing options, and 11 new orders for 82,000 DWT bulk carriers.