Yangzijiang Shipbuilding Bags Major Contracts Worth $414 Mln

July 4, 2013

Yangzijiang Shipbuilding (Holdings) Ltd., after winning major orders on 26th April 2013, has secured new shipbuilding contracts for the construction of fifteen vessels with an aggregate contract value of US$ 414 million.

The new contracts secured comprise of six units of 82,000 DWT bulk carriers, eight units of 64,000 DWT bulk carriers and one transload vessel of 94,000 DWT; whereby the vessels are scheduled for deliveries in the period from 2015 to 2016.

In 1H2013 , the Group had secured a total of 27 effective shipbuilding contracts with an aggregate value of US$ 1.01 billion. At the announcement date, the Group has a total of 51 options worth US$ 2.64 billion entered with its respective buyers, of which 22 options are for containerships worth US$ 1.56 billion and 29 options are for multi-purpose bulk carriers worth US$ 1.08 billion. With the Baltic Dry Index recently achieving a 52 – week high of 1179 points, the Group is confident that more options will be exercised in 2H2013.

Pertaining to the cessations declared by the Group for its three 2500TEU shipbuilding contracts previously, the Group has sold all of them to the new customer in 2Q 2013 .

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Press Release, July 4, 2013