Yangzijiang Shipbuilding garners 22 contracts, order book at record high of US$10.27b

MAINBOARD-LISTED Chinese firm Yangzijiang Shipbuilding has secured new orders for another 22 vessels, raising its total order book value to date to a record high of US$10.27 billion and extending its top line visibility to mid-2025.

In a statement updating on its contracts on Thursday (Oct 6), the Straits Times Index component shipbuilder said the 22 new orders would bring total orders it secured year to date to 40 vessels with a total value of US$3.6 billion, exceeding its FY2022 target of US$2 billion.

The orders clinched recently comprise four 32,000 deadweight tonnage (DWT) bulk carriers, six 66,000 DWT bulk carriers and twelve 16,000 twenty-foot equivalent unit (TEU) liquefied natural gas dual-fuel containerships.

Ren Letian, CEO of Yangzijiang Shipbuilding, said: “The stricter environmental regulations in recent years have given rise to a growing demand for green vessels and we are poised to be a beneficiary of this growth.”

Yangzijiang Shipbuilding noted that it has delivered 51 vessels in total as of end-September, It is therefore on track to achieve its FY2022 delivery target of 70 vessels.

The counter closed 5.8 per cent higher at S$1.10.