Yangzijiang reveals order win for four VLOCs

The order is believed to be for Australia's Fortescue, which had announced earlier that it has contracted the VLOCs at an unnamed Chinese yard.

Singapore-listed Yangzijiang said the newbuildings are expected to be delivered from 2016 to 2017, similar to the delivery period announced by Fortescue.

“The group has observed that shipowners are enhancing their focus on vessels’ operational efficiencies and as a result, the shipbuilding industry is experiencing a rise in demand for larger vessels that provides higher carrying capacity,” said Ren Yuanlin, executive chairman of Yangzijiang.

“The demand uptrend for these cost effective and higher efficiency vessels is in line with the group’s goal to scale the shipbuilding value chain,” Ren added.