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Seven billion yuan for two! Yangzijiang ship industry orders exploded to restart the production of s

Published：2021.08.03 News Sources：Qingdao Gute Ship Supplies Co., Ltd. Views：

Seven billion yuan for two! Yangzijiang ship industry orders exploded to restart the production of shipyards

In the first half of the year, Yangzijiang Shipbuilding Group made great efforts to obtain 12 orders for new vessels worth 7 billion yuan. To increase production capacity, Yangzijiang Shipbuilding Group has restarted Yangzi Changbo Shipbuilding, which has been closed for many years, to build container ships.

The company won 12+5 orders, breaking the monopoly of Korean LNG dual fuel ship market

On July 30, Yangzijiang Shipbuilding Group announced that it had signed an order for 12+5 new vessels worth $1.08 billion (about 7 billion yuan) in July, including 10 dual-fuel 7000TEU container ships and two 50,000DWT MR product vessels, and a letter of intent for five dual-fuel 7000TEU container ships. It is expected to take effect in August.

A total of 15 dual-fuel 7,000TEU container ships are being built by Seaspan Corporation, the world's largest independent container ship owner and a regular customer of Yangzijiang Shipping Group, and are scheduled to be delivered from October 2023 to 2024. For this series of ships, Yangzijiang Has gained the trust of the owners through early research and development and agreed to use type B tanks as LNG bunkers. The gas supply system (FGSS) and tank design are completed by Yangzijiang. This is an important achievement for yangzijiang shipowners and clearly demonstrates the shipowners' recognition of Yangzijiang shipowners' ability and technology to jointly design LNG storage tanks.

Seaspan disclosed in early July that it had signed a contract with a major shipyard to build 10 dual-fuel 7,000 TEU container ships for a total price of approximately $1.05 billion, or $105 million per ship. That puts yangzijiang's order for five more dual-fuel container ships, effective next month, at about $525 million.

Seaspan's 10 new ships have been awarded long-term 12-year leases from Star Line (ZIM) with a total contract value of approximately $1.8 billion, according to International Ship Network. Seaspan has teamed up with Star Line to order an LNG-powered container ship, following Samsung Heavy Industries' launch of 10 15,000 TEU dual-fuel container ships in February.

It is worth mentioning that Seaspan chose Yangzijiang Shipbuilding instead of Samsung Heavy Industries, its previous partner, to build a dual-fuel container ship this time. "The winning of this order means that the monopoly of the LNG dual fuel ship market, which was previously dominated by Korean carriers, has ended," yangzijiang said. "This further strengthens the group's leadership position in the LNG market and establishes a solid foundation for continued growth and expansion in the future."

"This order is a milestone for the Group, which designed the gas supply system and tanks for the LNG dual-fuel container ships," said Lotte Ren, Chairman and CEO of Yangzijiang Shipbuilding Group. This significant achievement puts Yangzijiang among the world's shipbuilders capable of building dual-fuel vessels, which can only be achieved through our continued research and development efforts."

"These engines and ships meet or exceed existing regulatory requirements, including the Third phase of the Ship Efficiency Design Index (EEDI). "As the shipping industry moves towards sustainability and carbon neutrality, we believe that more shipowners will choose to build these vessels and we are confident that we will receive additional orders for these dual-fuel vessels."

In the first half of this year, the Yangzijiang shipping industry has already received a record number of orders, totaling $5.59 billion for 100 vessels. With the latest 12 orders, the yangzijiang shipbuilding industry has booked 112 vessels worth $6.67 billion in the first seven months, continuing to set new records.

"With continued good market sentiment, Yangzijiang is confident of receiving more orders," Mr Lim said.

Yangzi Changbo shipbuilding has been restarted with an annual output of 6-7 feeder ships

Faced with the current situation of exploding orders and tight ship positions, Yangzijiang Shipbuilding Group decided to restart the operation of Jiangsu Yangzi Changbo Shipbuilding Co., Ltd. to further release capacity and mainly build feeder container ships.

In the past few years, yangzi Changbo shipbuilding shut down in 2012 because of low orders. To improve operational efficiency, Yangzijiang shipbuilding group has integrated the construction business of Yangzi Changbo Shipbuilding with its other three major shipyards. Since January 2020, due to industrial adjustment, Yangzi Changbo Shipbuilding has ceased its production and operation activities.

This year, with the gradual effect of a batch of new orders, Yangzijiang Shipbuilding Group in 2021 "Ten Goals" clearly put forward to release the shipbuilding capacity of the main industry, and restore the shipbuilding function of yangzi Changbo plant.

On July 30, with the batch operation of 1800TEU container ships, yangzi Changbo Shipbuilding officially resumed production. American bureau of shipping manager in central China ai-min song, a red ocean shipping site manager Mr Feng Xianghong, yangzijiang group deputy general manager Mr Du Chengzhong, yangzi xin fu shipbuilding, deputy general manager Mr Yang Xueyan and yangzi long bo, general manager of the factory Mr Hong-wei geng and other leaders and related personnel witness Yangtze long bo to resume production and 1800 teu container ship went smoothly.

After the restart of Yangzi Changbo Shipbuilding, it is expected to deliver 6-7 branch container ships annually. It is planned to achieve sales of about 1.6 billion yuan in 3 years, profit and tax of more than 100 million yuan, and solve 1600 jobs.

Long Yangtze shipbuilding smoothly restart, marks add powerhouse, yangzijiang shipbuilding group is mainly as a group, the new forces of shipbuilding will be as a new starting point, with a new attitude, enhance the sense of responsibility and mission, firmly establish a sense of anxiety, carries forward the Yang spirit of boat people, each boat building, with high quality and efficiency well organized to owner's satisfaction as the highest pursuit of goals.

According to Clarkson's data, Yangzi Changbo shipbuilding delivered 28 vessels totaling 318,850 DWT between 2008 and 2013, including three bulk carriers, one passenger ship, one refined oil tanker and as many as 23 multipurpose vessels. The largest ships built by Yangzi Changbo Shipbuilding were two 46,974 deadweight ton bulk carriers delivered in 2013, according to the international Ship Network.

Yangzijiang Shipbuilding Group has taken container ships as a key ship type market. More than half of Yangzijiang's new ship orders so far this year have been for container ships, totaling 74. These include Seaspan and China Bank Leasing, which are the world's largest 24000TEU VCCS, respectively. These are the largest container ships in the history of Yangzijiang Shipbuilding, making yangzijiang the first private shipbuilding company in China to build 24000TEU VCCS.

Previously, Yangzijiang Shipbuilding Group mentioned in its 2020 financial report and related documents that the group has a good track record in building container ships, which puts it in a good position to seize the current market opportunities. As shipyards fill up their delivery schedules, the group can be more selective about customers and the types of ships it builds. Given the higher gross margin on container ship bulk orders, yangzijiang's management has made a strategic decision to prioritize such orders, which is expected to help the group maintain profit margins.

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