YZJ clinches 4 new ship orders from PIL, brings this year’s new orders to US$990m
Add BT as a preferred source
Yong Hui Ting
DeeperDive is a beta AI feature. Refer to full articles for the facts.
YANGZIJIANG Shipbuilding (YZJ Shipbuilding), together with its subsidiaries, has clinched orders for 4 units of 8,000 TEU Liquefied Natural Gas dual-fuel containerships from repeat customer Pacific International Lines (PIL). This brings the total number of new orders secured this year to US$990 million, for 16 vessels.
The shipping company said on Wednesday (Jul 6) that the new ships will be delivered progressively in 2025.
The new products will also be equipped with ammonia-ready fuel tanks, which YZJ Shipbuilding executive chairman and chief executive Ren Letian believes will provide flexibility to shipowners to switch to ammonia and further contribute to green shipping practices.
As of the announcement date, the company has a total orderbook value of USD$8.15 billion for 137 vessels. This is expected to keep its yard facilities at a healthy utilisation rate with revenue visibility till mid-2025, wrote the shipping firm in its press statement.
Shares of YZJ closed up 0.5 per cent or S$0.005 at S$0.93 on Wednesday before the announcement.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Singaporeans can now buy record amount of yen per Singdollar
