Photo: Illustration; Image courtesy: Navingo

Yangzijiang bags $1.58 billion order for up to 17 ships

China’s shipbuilder Yangzijiang Shipbuilding has secured contracts for up to 17 newbuildings from Seaspan Corporation worth $1.58 billion in total.

The shipyard received orders for 10 liquified natural gas (LNG) dual-fuel 7,000 TEU containerships and two 50,000 dwt MR tankers  for a total contract value of $1.08 billion.

Furthermore, the company signed a letter of intent for another five units of dual-fuel 7,000 TEU containerships in July and is expected to turn effective in August 2021.

The dual-fuel containerships will be fitted with “Type B” LNG fuel tank, and Yangzijiang had participated in the design of the LNG fuel storage, supply system and LNG tanks as part of its research and development (R&D) efforts.

The dual-fuel containerships are slated for delivery between 2023 and 2024.

“These engines and vessels are in compliant with and even exceed the already underway regulations including Energy Efficiency Design Index (EEDI) “Phase 3” initiated by the IMO. As the shipping industry moves towards sustainable development and pivots to carbon-neutrality, we are confident that more shipowners will opt for such vessels to ensure functionality and relevance of new built vessels,” Ren Letian, Executive Chairman and CEO of the Group, commented.

As of the announcement date, Yangzijiang’s existing orderbook of $8.74 billion for 170 vessels remains a record-high, according to the company.

Last month Seaspan announced the order of ten 7,000 TEU, LNG dual-fuel containership newbuilds for charter to ZIM.

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