YZJ Shipbuilding secures new orders, reports 17% fall in Q3 net profit

Singapore

YANGZIJIANG Shipbuilding (YZJ) announced on Thursday that it has entered into an agreement with a Japanese shipowner for the building and delivery of 10 3,500 twenty-foot equivalent unit (TEU) container ships.

Of the 10 vessels, five are firm orders, worth approximately US$198 million in total, the China-based shipbuilding group said in an exchange filing. The other five are option orders for identical vessels. Should all the options be exercised, this batch of orders will be worth US$396 million in total.