Felicia Tan Published on Wed, Jun 30, 2021

Yangzijiang Shipbuilding has secured another US$871 million ($1.17 billion) worth of new orders just one week after it won US$715 million worth of new orders on June 23.

The new order wins bring Yangzijiang’s year-to-date total to US$5.59 billion, marking the largest number of order wins for the group in history.

Its outstanding order book of US$7.72 billion for 160 vessels is also another record high.

The latest agreement is for the building and delivery of six units of 15,000TEU containerships, three units of 3,300TEU containerships and two units of 82,300DWT bulk carriers.

So far, the Mainboard-listed group has secured contracts totalling 100 vessels for the 1HFY2021.

The 15,000TEU containership orders were placed by the group’s repeat customer, Seaspan Corporation, and will be delivered in the 1HFY2024.

The 3,300TEU containerships were placed by a domestic shipowner and will be delivered between 2HFY2023 to 1HFY2024.

The remaining two 82,300DWT bulk carriers will be delivered in the 1HFY2023.

“Yangzijiang’s vision to emerge as one of best shipyards in the world has anchored the group’s strategic direction and decisions over the years. We have always been committed to increase efficiencies at our yards, strengthen our shipbuilding capabilities and expanding yard capacities appropriately, whilst ensuring that we deliver superior vessels to our customers,” says Ren Letian, executive chairman and CEO of the group.

“I am extremely pleased to see these continuous efforts materializing and leading to various competitive advantages for the group. These were pivotal to Yangzijiang’s achievement of both milestones – largest order wins and a record-high outstanding orderbook.”

“Yangzijiang has proven its ability to deliver profits through various business cycles and we will continue to record consistent profits with the ultimate goal of delivering and maximising shareholders’ value. The group is well-positioned for further growth and I believe that Yangzijiang will continue to achieve greater breakthroughs,” Ren adds.

Shares in Yangzijiang closed flat at $1.41 on June 30.