Yangzijiang Seals Additional New Orders for 22 Vessels

SINGAPORE – 6 October 2022 – Yangzijiang Shipbuilding (Holdings) Ltd., a world-leading shipbuilding group based in China, and a Straits Times Index component company listed on the SGX Main Board, announced that it has secured new orders for 22 vessels, further to the 18 new orders announced on 7 August 2022, achieving the highest ever total orderbook value of USD10.27 billion and extending its revenue visibility to mid-2025.

 

Out of the orders for the 22 vessels, six (6) are 66,000DWT bulk carriers, four (4) are 32,000DWT bulk carriers, and another twelve (12) are 16,000TEU LNG dual-fuel containerships. With these latest order wins, year-to-date, the Group has secured new orders for 40 vessels worth approximately USD3.6 billion, exceeding its FY2022 target of USD2.0 billion.

 

With 16 vessels delivered in 3Q2022, the Group has delivered 51 vessels in total as of 30 September 2022 and is on track to achieve its FY2022 delivery target of 70 vessels.

 

Mr. Ren Letian, Executive Chairman and CEO of the Group, commented on the order wins, “These new order wins take us well past our FY2022 orderbook target of USD2 billion and showcase the strong demand for our new vessels, particularly green vessels. 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. As such, given Yangzijiang's solid track record in vessel quality and timely delivery, we are confident in maintaining our order win momentum and in delivering stable and sustainable returns to our shareholders.

 

Here at Yangzijiang, we are committed to building greener vessels. Further to the GTT knowhow, we are witnessing a strong market sentiment in this space. While we are working even harder to secure our maiden type C LNG carrier, we are also looking to invest in a new production line to meet the strong demand and the market needs in the long term.”

 

Source: Yangzijiang Shipbuilding

 

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.