China: Yangzijiang Shipbuilding Secures USD 206.2 Mln in Shipbuilding Contracts

Yangzijiang Shipbuilding (Holdings) Ltd has secured shipbuilding contracts for seven vessels with an aggregate contract value of USD 206.2 million since the beginning of the year 2012.

The new contracts secured comprise four (4) units of 82,000 DWT bulk carriers, two (2) units of 95,000 DWT bulk carriers and one (1) unit of 47,500 DWT bulk carrier; whereby such vessels are scheduled for deliveries in the period from 2013 to 2015 and therefore will not have any significant impact on the earnings of the Group for the financial year ending 31 December 2012.

As for year 2011, the Group had in total secured twenty-one (21) effective shipbuilding contracts with an aggregate value of US$ 1,212 million.

Yangzijiang Shipbuilding (Holdings) Ltd. is a large shipbuilding enterprise in China with Jiangsu Yangzijiang Shipbuilding Ltd. and Jiangsu New Yangzi Shipbuilding Ltd. as a core companies. With a history stretching back as to 1956 in shipbuilding, the company is the first shipbuilding enterprise in China that entered he stock market in Singapore, becoming one of the Straits Times index stocks in the Singapore Exchange. The Company covers area of 2.2 million square meters and a wharf line of 3,000m, and employs over 10,000 staff and workers. Equipped with one large dry dock and five large and medium-sized slipways, the Company boasts the shipbuilding capacity over 1 million DWT annually in terms of ship tonnage. The main stream products of the Company range from large and medium-sized containerships, large bulk carriers to, medium multi-purpose ships.

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Shipbuilding Tribune Staff, February 20, 2012; Image: yzjship