The Singapore-listed Chinese shipbuilder reported a third quarter profit of RMB811.1m ($132.5m) a 1% drop compared to RMB820.7bn in the same period in 2013. Revenues for Q3 were up 2% at RMB3.74bn compared RMB3.67bn a year earlier.
Yangzijiang has an orderbook worth $4.6bn for 114 vessels and said its yards would be highly utilised until the end of 2016.
Looking ahead Ren Yuanlin, chairman of Yangzijiang said: “The industry has shown early signs of recovery as the enquiries and new orders started to see some momentum as compared to that of last year.
“The softer oil prices are in a way benefiting the recovery of the shipping industry as well. We feel that overtime this will have a positive trickle-down effect on the shipbuilders as well.”
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