Singapore-listed Yangzijiang said the 13 newbuilding deals would ensure optimal use of yard facilities until 2019, as deliveries are scheduled until 2020.
The 13 shipbuilding contracts comprise of five 82,000 dwt bulk carriers, five 62,000 dwt woodchip carriers, two 1,800 teu container vessels and one 6,500 dwt con-ro vessel.
“While the oversupply in global shipping and shipbuilding industries is still in a rebalancing process, we see signs of recovery in the secondhand vessel market and the bulk carrier market. We remain cautiously optimistic on these developments,” said Ren Yuanlin, executive chairman of Yangzijiang.
“Yangzijiang remains resilient and profitable, backed by a strong financial position,” Ren added.
In 2016, Yangzijiang recorded a profit of RMB1.85bn ($269m), down 25% year-on-year.
Ren said earlier that the group will cut workforce by 10% over 2017 amid the severe industry slump, downsizing its workforce to around 18,000 by end of this year.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
