China’s Yangzijiang Shipbuilding has collected RMB210m ($33.8m) from the disposal of non-core businesses as it seeks to redirect attention to its core shipbuilding business.

Yangzijiang Shipbuilding plans to embark on building containerships of up to 18,000 teu capacity as it believes that large vessels will be the trend going forward in the boxship market.

Following its latest round of newbuilding orders Seaspan Corp is lining up fundraising through a public share and bond issue.

Yangzijiang Shipbuilding is set to be the first company to trade its shares on the Singapore Exchange (SGX) in RMB.

Yangzijiang Shipbuilding has been buoyed by the surge in newbuilding orders and inked contracts for 15 vessels, totalling $414m.