Yangzijiang Boasts Newbuild Contracts

1 September 2010 (Last Updated September 1st, 2010 18:30)

Yangzijiang Shipbuilding secured 28 newbuild contracts worth $915m between 1 July and 30 August. The Chinese shipbuilder said the orders include eight container ships and 20 dry bulk carriers, which are scheduled for delivery between 2011 and 2013. The company said five cont

Yangzijiang Shipbuilding secured 28 newbuild contracts worth $915m between 1 July and 30 August.

The Chinese shipbuilder said the orders include eight container ships and 20 dry bulk carriers, which are scheduled for delivery between 2011 and 2013.

The company said five contracts of $127m have been factored into its order book after receiving initial deposits, while 15 orders worth $490m will be effective upon receiving initial deposits from the shipowners.

The remaining eight newbuild orders, worth $298m, are optional contracts to be exercised by the shipowners.

The shipbuilder had a backlog of 124 ships worth $5.2bn at the close of Q2 2010.