Yangzijiang wins 13 shipbuilding contracts worth US$318m in Q1

A ship under repair at a Yangzijiang shipyard in China.
A ship under repair at a Yangzijiang shipyard in China. PHOTO: YANGZIJIANG

SINGAPORE - Yangzijiang Shipbuilding announced on Monday (April 3) that it has won 13 shipbuilding contracts worth US$318 million (S$443.9 million) in the first quarter of 2017.

The contracts are for five 82,000 dwt (deadweight tonnage) bulk carriers, five 62,000 dwt woodchip carriers, two 1,800 teu (twenty-foot equivalent unit) containerships and one 6,500 dwt ConRo Vessel. A ConRo vessel is a hybrid of a RoRo (roll-on/roll-off vessel) and a container ship. It has a below-deck area used for vehicle storage while stacking containerised freight on the top decks.

The contracts are scheduled for delivery from 2018 to 2020.

Said the company's executive chairman Ren Yuanlin: "While the oversupply in global shipping and shipbuilding industries is still in a rebalancing process, we see signs of recovery in the second-hand vessel market and the bulk carrier market. We remain cautiously optimistic on these developments."