Yangzijiang bags US$135m of LNG vessel orders

Singapore

SGX-LISTED Yangzijiang Shipbuilding (Holdings) has diversified its shipbuilding portfolio to LNG vessels as it seeks to refresh its product strategy. The Chinese company announced this week that it has secured new shipbuilding orders from JHW Engineering & Contracting (JHW) to build two 27,5000CBM LNG carriers for them. JHW is a subsidiary of JACCAR Holdings, which owns Evergas - a transporter of ethylene and ethane gas.

With downpayments duly received, the two LNG vessels worth US$135 million are now effective orders and included in group's order book. The orders are scheduled to be delivered in 2017. "Yangzijiang has entered a relatively mature stage in building bulk carriers and containerships and it has been on the management's agenda to formulate sustainable product strategy," Ren Yuanlin, executive chairman of Yangzijiang, said.