Yangzijiang wins shipbuild order for seven vessels

21 February 2012 (Last Updated February 21st, 2012 18:30)

Singapore-based Yangzijiang Shipbuilding has received shipbuilding contracts worth $206.2m for seven vessels this year.

Singapore-based Yangzijiang Shipbuilding has received shipbuild contracts worth $206.2m for seven vessels this year.

The order includes four 82,000-dwt bulkers, a pair of 92,000-dwt post-panamaxes and one 47,500-dwt bulk carrier.

According to the company, the delivery of the vessels, which are scheduled from 2013 to 2015, will not have any impact on the earnings of the firm for the financial year ending 31 December 2012.

The company, however, has not disclosed the ship owner who has signed the deal for the newbuilds.

Yangzijiang Shipbuilding had won a total of 21 shipbuilding contracts with an aggregate value of $1.2bn in 2011.

Last month the company, through its subsidiary SEAVI Advent Asia Investments (SEAVI), entered into a joint venture (JV) agreement with Döhle (IOM) (PD) to establish four single ship-owning companies.

The companies include MV TW Hamburg Shipping , MV TW Manila Shipping, MV TW Beijing Shipping, and MV TW Jiangsu Shipping.

Each ship-owning firm will become the owner of one of the four units of 92,500 dwt post-panamax bulk carriers, which are being built at its Jiangsu New Yangzi Shipbuilding (JNYS), scheduled for delivery in the first quarter of 2012.

As per the JV, the four single-ship owning firms (each a SPV, together, the SPVs) shall be established on the Isle of Man.

Yangzijiang currently covers an area of 2.2 million m2 and a wharf line of 3,000m, and employs over 10,000 people.

Equipped with one large dry dock and five large- and medium-sized slipways, the company boasts the shipbuilding capacity of over 1 million dwt per year in terms of ship tonnage.

The main stream products of the company range from large- and medium-sized containerships, large bulk carriers to, medium multi-purpose ships.