Shipbuilding 5-year drought ends for China's Yangzijiang shipyard
CHINA's Yangzijiang has secured new orders for 17 vessels worth US$871 million for 12 bulk carriers and five containerships of 10,000 TEU for delivery 2015 and 2016.
The order is a new record since fiscal year 2008 when it stood at US$1.38 billion ending a five-year drought on shipbuilding orders.
It holds 28 options worth US$1.36 billion of which 11 are containerships valued at $850 million and 18 bulk carriers worth $510 million, reports Singapore Business Review.
Its current capsize vessels, bulk carriers, has options for two identical units. This sector could see an increase in orders, said the report, due to a recent turnaround to the dry bulk sector shown in the rally of the Baltic Dry Index at 2,000, cited as a bellwether of the global economy.
In the third quarter of 2013, the second-largest listed shipyard and last privately-owned in China, gained a total of 25 shipbuilding contracts worth US$1.085 billion to reach year-to-date contract wins of US$2.1 billion. Its overall orderbook stands at around $4 billion, an increase of 33 per cent year on year.
Seaspan's recent order for five more 10,000 TEUers may be upsized to 14,000 TEU given the market focus on larger ships, added the report.
CHINA's Yangzijiang has secured new orders for 17 vessels worth US$871 million for 12 bulk carriers and five containerships of 10,000 TEU for delivery 2015 and 2016.
The order is a new record since fiscal year 2008 when it stood at US$1.38 billion ending a five-year drought on shipbuilding orders.
It holds 28 options worth US$1.36 billion of which 11 are containerships valued at $850 million and 18 bulk carriers worth $510 million, reports Singapore Business Review.
Its current capsize vessels, bulk carriers, has options for two identical units. This sector could see an increase in orders, said the report, due to a recent turnaround to the dry bulk sector shown in the rally of the Baltic Dry Index at 2,000, cited as a bellwether of the global economy.
In the third quarter of 2013, the second-largest listed shipyard and last privately-owned in China, gained a total of 25 shipbuilding contracts worth US$1.085 billion to reach year-to-date contract wins of US$2.1 billion. Its overall orderbook stands at around $4 billion, an increase of 33 per cent year on year.
Seaspan's recent order for five more 10,000 TEUers may be upsized to 14,000 TEU given the market focus on larger ships, added the report.