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Yangzijiang inks US$396m deal to build ten 3,500-TEU box ships

SINGAPORE-LISTED Yangzijian Shipbuilding of China has received a firm order for five 3,500 TEU newbuilds worth US$198 million from an undisclosed Japanese shipowner, who is a repeat customer at the yard

12 November 2020 - 19:00
SINGAPORE-LISTED Yangzijian Shipbuilding of China has received a firm order for five 3,500 TEU newbuilds worth US$198 million from an undisclosed Japanese shipowner, who is a repeat customer at the yard.

There are also options for five more identical vessels which would bring the total order value to $396 million, reports Colchester's Seatrade Maritime News.



The five firm vessels will be built at its New Yangzi yard and delivered from November 2022.



'The trade tension in recent years and the Covid-19 pandemic gave rise to increased demand for intra-regional and more expedited shipping services, and smaller, energy-efficient vessels are good fits for such demand. This batch of orders will extend our track record of building a rich portfolio of containerships with supreme features,' said Ren Letian, executive chairman and CEO of Yangzijiang.



Excluding options Yangzijiang has secured $1.03 billion in new orders this year. 'This was a remarkable achievement especially considering that the global new shipbuilding orders declined by about 50 per cent in the first nine months of 2020 in a depressed market,' Mr Ren said.


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