Yangzijiang Shipbuilding made a profit of 585 million yuan in Q3, and received another order of 10 container ships worth 396 million US dollars. The number of orders received by Yangzijiang has exceeded the total of last year.

On November 4, Yangzijiang Shipbuilding released its 2020 third quarter financial results and related announcements.

In the third quarter of 2020, 9 ships were delivered. Although the decrease in unit price and number of ships put pressure on revenue, gross profit in the third quarter of 2020 still reached 1.3 billion yuan, a year-on-year increase of 19%.

In the third quarter, the net profit attributable to shareholders of Yangzijiang Shipbuilding was 585 million yuan, a decrease of 17% from 702 million yuan in the same period last year.

Just this morning (November 5), Yangzijiang announced that it has signed an order with a Japanese shipowner to build up to 10 3500TEU feeder container ships.

This order includes 5+5 3500TEU container ships, of which the first 5 confirmed ship orders with a total value of approximately US$198 million will be built by New Yangzi Shipbuilding and will be delivered successively from January 2022. If all alternative orders are confirmed and effective, the total value of the entire order will reach 396 million US dollars.

Source: Sarah Yu, XINDE MARINE NEWS

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