China’s Yangzijiang Shipbuilding has signed contracts for 22 newbuildings, bringing the value of its year-to-date orders to $3.6bn.
The contracts include six ultramax bulk carriers, four handysize bulkers and 12 LNG dual-fuel 16,000-teu container ships. It did not disclose the total value of the 22 newbuildings but shipbuilding sources put it at $2.51bn, according to a regulatory filing.
Yangzijiang said these latest newbuilding contracts lift the total number of vessels ordered so far this year to 40. The company’s newbuilding berths are now booked until mid-2025.
The Jiangsu-based shipyard has built up an orderbook of 156 newbuildings worth $10.27bn. It said the total orderbook value is the highest it has ever been.
Yangzijiang did not disclose the identity of the companies behind the newbuildings, however, shipbuilding sources believe Mediterranean Shipping Co (MSC) is behind the neo-panamax boxship order.
News of MSC ordering the LNG dual-fuelled container ships was first published in TradeWinds last month. Shipbuilding brokers said the liner company will be paying slightly more than $180m per ship, which will be fitted with GTT’s Mark III Flex membrane-type containment system. Yangzijiang is slated to deliver the 12 vessels between the end of 2024 and 2026.
“The stricter environmental regulations in recent years have given rise to a growing demand for green vessels and we are poised to be a beneficiary of this growth,” said Ren Letian, chief executive of Yangzijiang.
Last month, Yangzijiang obtained a licence agreement with engineering group GTT, enabling it to build LNG carriers using the French company’s membrane containment system.
Ren said his company is working hard to secure its maiden type-C LNG carrier, adding that it is also looking to invest in a new production line to meet strong demand and market needs in the long term.
Yangzijiang said it already has delivered 51 vessels this year and is on track to deliver its target of 70 ships for 2022.
