SINGAPORE (May 28): Mainboard-listed Yangzijiang Shipbuilding has secured a new shipbuilding contract for four 1,000TEU container feeders worth a total of RMB392 million (S$77.6 million) on Thursday.
The order was placed by Zhejiang Seaport Shipping Company Ltd, a unit of Zhejiang Seaport Group & Ningbo Zhoushan Port Group of China.
Each 1,000TEU container feeder which has a maximum loading capacity of 15,000 tons, will significantly reduce fuel consumption per unit.
The design of these feeders is said to give priority to loading capacity over speed, and will be built in consideration of the water and shape conditions of several major ports in the Zhejiang province.
“This batch of orders will expand our customer base of China SOE customers. The feeder market is a unique niche market where the demand in China is relatively more resilient. I am confident that we will deliver the vessels of top-notch design and quality to the customer, in return for their trust and support,” says Yangzijiang CEO Ren Letian.
Shares in Yangzijiang Shipbuilding closed 1 cent lower, or 1.1% down, at 93.5 cents on Thursday.
