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Business
 

China's Yangzijiang wins large ore ship order from Fortescue

Published on Jun 18, 2014 10:34 AM
 

SINGAPORE (Reuters) - Yangzijiang Shipbuilding Holdings has won an order to build four very large ore carriers for Australian iron ore miner Fortescue Metals Group Ltd, company statements and a source familiar with the situation said.

Yangzijiang did not disclose the value of the contract or the owner of the ships, though earlier in the week Fortescue said it had signed a US$275 million (S$344.4 million) contract with a Chinese yard to build four big iron ore carriers.

A source familiar with the situation confirmed that Fortescue, the world's fourth-largest iron ore miner, has placed the order with Yangzijiang, one of China's top shipbuilders.

It is Yangzijiang's first order for this type of vessel. The four vessels, at 260,000 deadweight tonnes each, are expected to be delivered in 2016 and 2017, Yangzijiang said in a statement.

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