Yangzijiang bags over $900m in new orders

Singapore: Yangzijiang Shipbuilding has bagged over $900m in newbuilding contracts over the last two months. The Chinese shipbuilder said it had entered into 28 shipbuilding contracts since 1 July worth a total of $914m. The contracts comprise eight containerships and 20 bulkers. Yangzijiang said five contracts worth $127.4m had become effective on the receipt of initial deposits, 15 contracts worth $489m were pending the receipt of deposits. The remaining eight newbuilding contracts are options. “We are pleased with the progress of the Group in entering into more new shipbuilding contracts. We are in continuous dialogue with the ship-owners and would do our best to materialize all of these contracts and would work towards the successful and timely delivery of each vessel,” said Ren Yuanlin, executive chairman of Yangzijiang. [31/08/10]