Yangzijiang Inks Shipbuilding Contracts

Yangzijiang Shipbuilding (Holdings) Ltd. has managed to secure new shipbuilding orders of four 208,000 DWT bulk carriers with options for two identical vessels.

Furthermore, there are thirteen options consisting of five 82,000 DWT bulk carriers, three 64,000 DWT bulk carriers and five 10,000TEU containerships converted into effective orders in September 2013.

The total contract value of the above mentioned seventeen new contracts is approximately $871 million.

The 17 new effective contracts are scheduled for deliveries from 2015 to 2016, and therefore will not have any significant impact on the earnings of the Group for the financial year ending 31 December 2013.

In 3Q2013, the Group had secured a total of twenty five effective shipbuilding contracts with an aggregate value of $1.085 billion. Year to date, a total of fifty two shipbuilding contracts amounting to $ 2.096 billion have come to effect.

As of the announcement day, the Group has a total of 28 options outstanding worth total of $ 1.36 billion entered into with its respective buyers, of which 11 options are for containerships worth $0.85 billion and 17 options are for multi-purpose bulk carriers worth $0.51 billion.

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Yangzijiang Shipbuilding, October 1, 2013