Yangzijiang Shipbuilding has clinched orders for four 8,000 TEU Liquified Natural Gas (LNG) dual-fuel containerships.
In a filing, the company said the orders were placed by repeat customer Pacific International Lines and will be progressively delivered in 2025.
This brings the total new orders secured since January 1 this year to US$990 million for 16 vessels. The vessels are are four units of 1,800 TEU containerships, four units of 8,000 TEU LNG dual-fuel containerships, four units of 66,000 DWT and two units of 63,200 DWT bulk carriers as well as two units of 36,000 CBM Liquefied Ethylene Gas carriers.
As of the announcement date, Yangzijiang has a total order book value of US$8.15 billion for 137 vessels, which is expected to keep its yard facilities at a healthy utilization rate with revenue visibility till mid-2025.
Yangzijiang will endeavor to leverage on its research and development capabilities to attain more order wins, the company said.
Its executive chairman and CEO Ren Letian said the new order win is the first time that Yangzijiang has adopted the GTT Mark II technology for the LNG tanks. “The inclusion of ammonia-ready fuel tanks also provides flexibility to shipowners to switch to ammonia, which will further contribute to green shipping practices.
See also: Kingsmen renews F1 contracts for $53.2 million
“From a technological viewpoint, this signifies the group’s breakthrough into Type ‘C’ tanks which can be applied to build larger LNG carriers. The group will continue to advance its technology in the clean energy sector and is well positioned to expand its footprint in the LNG market.
“Backed by a strong orderbook and R&D, we are confident of capturing new growth opportunities and generating sustainable earnings for our shareholders.” said Ren.
Shares in Yangzijiang closed 0.5 cents higher or 0.54% up at 93 cents on July 6.
