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Yangzijiang Shipbuilding bags US$102m worth of new orders

YANGZIJIANG Shipbuilding on Tuesday said it has obtained new orders for four vessels worth around US$102 million, bringing the total for new orders to US$517 million in 2020 to date.

The four new orders include two liquefied natural gas-tank (LNG) carriers placed by Hong Kong's Tiger Gas, and two 56,000 deadweight ton bulk carriers placed by Shanghai Ganglu Shipping Co.

The orders for the LNG-tank carriers placed by Tiger Gas come with options for eight more such vessels, Yangzijiang said in a regulatory update. The first vessel is slated for delivery in early 2022.

These vessels will be jointly designed by Yangjiziang and Tiger Gas with a "strong focus" on environmental protection and energy efficiency features. The vessels will be fitted with dual-fuel engines capable of carrying heavy-lift cargo across the Yangtze River and the ocean.

Yangjiziang executive chairman and chief executive officer Ren Letian said: "The LNG-tank carriers are the second major orders from Tiger Group, thanks to the confidence and trust that the key shareholder of the customer have in us."

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He added the new generation of vessels will allow Yangzijiang to grow its research and development capabilities with a focus on "green" features.

Shanghai Ganglu is a first-time customer of Yangzijiang. The Chinese shipowner will use the vessels in the transportation of domestic trade in China. The vessels will be designed by the Shanghai Merchant Ship Design & Research Institute, and are slated for delivery by March 2022 to Shanghai Ganglu.

Mr Ren further updated that operationally, the company's work divisions have been running on extended shifts where possible. This has helped the group achieve major milestones in shipbuilding.

On Monday, Yangzijiang's inaugural 12,600 twenty-foot equivalent unit containership started its trial voyage in the Yangtze River ahead of its scheduled delivery in July. It is also the largest trial-voyage vessel in the Yangtze River this year.

Shares of Yangzijiang were trading 0.5 Singapore cent or 0.5 per cent lower to 96.5 cents as at 1.44pm on Tuesday.

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