Yangzijiang Shipbuilding wins 22 contracts, order book at record high of $14.67 billion

Yangzijiang Shipbuilding noted that it has delivered 51 vessels in total as of end-September. PHOTO: YZJSHIP.COM

SINGAPORE - 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 (S$14.67 billion) and extending its top-line visibility to mid-2025.

In a statement update on its contracts on Thursday, the Straits Times Index component shipbuilder said the 22 new orders would bring total orders secured in the year to date to 40 vessels, with a total value of US$3.6 billion, exceeding its financial year 2022 target of US$2 billion.

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

Mr Ren Letian, chief executive 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 at end-September, It is therefore on track to achieve its financial year 2022 delivery target of 70 vessels.

The counter closed 5.8 per cent higher at $1.10 on Thursday. THE BUSINESS TIMES

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