China’s privately-owned Yangzijiang Shipbuilding updated that it has landed 13 new shipbuilding contracts worth a total of $318m for the first quarter of 2017.

China’s Yangzijiang Shipbuilding will slash workforce by a further 10% over this year amid the severe industry recession, as it continues to optimise operations with an aim to capture $1.5bn in new orders.

Despite the current hard times, Chinese yards are looking ahead to the future and are focussing on building up their brands to be prepared to take advantage of any upswing that comes.

China’s Yangzijiang Shipbuilding has been hit by three newbuildings cancellation during the third quarter amid adverse conditions in the shipping market, but the yard also clinched three new orders and posted a profit.

China’s privately-owned Yangzijiang Shipbuilding is planning further job cuts of 2,000 in the face of adversity, adding on to the 4,000 job cuts already executed this year, reports said.

Sembcorp Marine is spending around $115.06m to acquire a remaining 15% stake it did not own in PPL Shipyard (PPLS), putting an end to a bitter partnership that arose from this stake.

As the crisis in China’s shipbuilding industry deepens, Beijing is in two minds on whether to continue funding state-owned yards while almost all private enterprises have been wiped out, according to Ren Yuanlin, executive chairman of Yangzijiang...

China’s privately-owned Yangzijiang Shipbuilding has stayed profitable in the first half despite weaker results, a feat that is no longer easily achievable by many shipyards in view of the severe slump of the shipbuilding segment.

Euroseas has made changes to its new shipbuilding deals by commencing arbitration over the cancellation of a new bulker contract and changing a firm order to an option.

Yangzijiang Shipbuilding has dissolved a wholly-owned subsidiary based in Jiangyin city, China to rationalise the group structure.