Yangzijiang secures US$450 worth of new orders YTD

It is from 19 shipbuilding contracts.

Yangzijiang Shipbuilding announced that it has nabbed six effective orders in the second quarter of the year with a total contract value of US$133m, bringing year-to-date orders to a value of US$450.

Three of the recent contracts were exercised from existing options, while the remaining three 82,000 DWT bulk carriers were new shipbuilding orders. 

The six contracts are scheduled for deliveries from 2018-2020.

According to OCBC Investment Research, the group has secured a total of 19 effective shipbuilding contracts year-to-date. The group also has nine outstanding options as well.

"At the last results briefing, management reiterated its target for US$1.5b new orders this year. For reference, YZJ won new orders of US$820m in FY16 and US$2.25b in FY15," analyst Low Pei Han said.