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Chinese Shipbuilding Making a Comeback

Yangzijiang Shipbuilding Wins Contracts Worth $871 Million

By MarEx 2013-10-01 08:00:00

Photo: Container Ship Constructed by Yangzijiang.

Yangzijiang Shipbuilding (Holdings) Ltd, China's second-largest listed shipyard, said it had won shipbuilding contracts worth about $871 million since early September.

The company received new orders for four bulk carriers, each of 208,000 deadweight tonnes, with options for two identical vessels. In addition, options for 13 vessels, including eight bulk carriers and five container ships, were converted into effective orders, the company said in a statement.

The company did not reveal the firms signing the deals.

Yangzijiang, China's most profitable yard, said it secured 25 effective shipbuilding contracts with a total value of $1.085 billion in the third quarter, lifting its year-to-date contract wins to $2.1 billion.

The large orders accompanied a rebound in shipbuilding contracts at Chinese shipyards this year. Total orders won have exceeded those for all of 2012, although only a few big yards, including Yangzijiang, have benefited.

Reporting by Rujun Shen; Editing by Clarence Fernandez (C) Reuters 2013.