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Yangzijiang shipyards to remain ‘highly utilised’ until 2016

Yangzijiang Shipbuilding’s shipyards will remain highly utilised until the end of 2016 on the back of outstanding orderbook valued at $5.19bn for 125 vessels.

Lee Hong Liang, Asia Correspondent

May 5, 2014

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Year-to-date, Yangzijiang has clinched newbuilding orders worth $1.07bn for 26 ships, comprising of three 64,000 dwt dry bulk carriers, 14 units of 82,000 dwt bulk carriers, three 208,000 dwt bulkers, two 1,100 teu container vessels, and four 10,000 teu containerships.

The shipbuilder also has four outstanding options to construct 10,000 teu boxships.

“The group will focus on perfecting the construction of 10,000 teu containerships in the near term, and thereafter setting our sights on larger, more sophisticated vessels such as 14,000 teu containerships and LPG vessels,” said Ren Yuanlin, executive chairman of Yangzijiang.

“Similarly, the group hopes that the jack-up rig will establish our capabilities in the offshore segment, and pave the way for future projects,” Ren said.

Construction on Yangzijiang’s first jack-up rig order is progressing according to scheduled for delivery in mid-2015.

Offshore projects represent the group’s move into a more technically challenging sphere necessary for long term progress, the company said.

Meanwhile, the Chinese yard has remained profitable with a net gain of RMB799.19m ($127.91m) in the first quarter of 2014, up 11% year-on-year. Revenue also rose 24% to RMB3.55bn.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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