Yangzijiang bags US$1b worth of new deals in Q3

CHINESE shipyard Yangzijiang Shipbuilding, having secured 25 new contracts since the start of September, is well on its way to meeting a higher volume of orders in order to maintain its profit levels.

The Singapore-listed shipbuilder announced eight contracts worth US$214 million early last month, and followed it up this week with another 17 deals worth US$871 million; these jobs have taken its total orders won to US$1.085 billion in the third quarter alone.

OCBC Investment Research said that the latest lot of 17 contracts, for vessels to be delivered between 2015 and 2016, provide a much-anticipated repl…