Yangzijiang clinches six shipbuilding contracts worth US$510m

It's the only private yard to win Valemax orders.

Mainboard-listed Yangzijiang Shipbuilding has been awarded shipbuilding orders for six 400,000 DWT Very Large Ore Carriers in April, with a total contract value of USD510 million.

The ships, also known as Valemax vessels, are scheduled for deliveries from 2018 to 2019. The orders were placed by ICBC Leasing, a wholly-owned subsidiary of ICBC, China’s largest state-owned commercial bank.

Yangzijiang said that these are the largest dry bulk carriers ever awarded to the group. Other than Yangzijiang, all other shipbuilders that received these Valemax orders are state-owned companies.

“These will be the largest dry bulk carriers we will build till date, and will bring our product profile to a new level. These orders will be a boost to both our order book, especially in a weak market, as well as to the morale of Yangzijiang's people. We will make our best effort in delivering quality vessels on schedule, while continuing to build up the shipbuilding orders towards our target for the year,” said Ren Yuanlin, Executive Chairman, Yangzijiang.