Yangzijiang Q3 Profits Soar

31 October 2010 (Last Updated October 31st, 2010 18:30)

Yangzijiang Shipbuilding reported a profit of CNY730m ($110m) during the third quarter of 2010, a 32% increase on the corresponding quarter in 2009. The Chinese shipyard's third-quarter revenue increased by 19% to CNY3bn ($463m) compared with the same time a year ago.

Yangzijiang Shipbuilding reported a profit of CNY730m ($110m) during the third quarter of 2010, a 32% increase on the corresponding quarter in 2009.

The Chinese shipyard’s third-quarter revenue increased by 19% to CNY3bn ($463m) compared with the same time a year ago.

The Yangzijiang yard reported Q3 new orders for 28 ships worth $915m, of which five were confirmed contracts, and 14 vessels were delivered on schedule compared with seven vessels during the same time last year.

Yangzijiang Shipbuilding has an order backlog of 128 vessels worth $5.3bn, according to todayonline.com.