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Yangzijiang Shipbuilding bolstered Tiger Group orders worth up to $1.15bn

Chinese private shipbuilder Yangzijiang Shipbuilding (Holdings) inked new orders for up to ten 14,000 teu dual-fuel containerships worth $1.15bn with the Tiger Group, marking an encouraging start for Yangzijiang for 2020 amid the COVID-19 outbreak.

The deal is one of the largest orders in the company’s history, including two firm orders and eight options, which are scheduled to be delivered from mid-2022.

“We appreciate our customer Tiger Group’s trust and support with such a sizable order with Yangzijiang at a challenging time for both the industry and the world as it tackles the coronavirus outbreak. This batch of new orders bears several levels of significance. It is one of the largest orders in contract value in Yangzijiang’s history,” said Ren Letian, ceo of Yangzijiang Shipbuilding.

In addition, New Yangzi Shipbuilding, a unit of Yangzijiang Shipbuilding Group, signed contract with Shanghai Huayuan Shipping for the construction of two 52,000dwt bulk carriers.

The bulk carrier pair is scheduled to start construction in October 2020, and will be deployed for domestic market.

With these orders added to Yangzijiang’s order book, the group will have a stable revenue stream for at least the next two years.

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