Yangzijiang Shipbuilding (Holdings) has recently signed agreements for the building and delivery of 10 units of dual-fuel 7,000TEU containerships and two units of 50,000DWT MR tankers for a total contract value of US$1.08 billion ($1.46 billion).

 

In addition, the group signed a letter of intent (LOI) for another five units of dual-fuel 7,000TEU containerships in July. The LOI is expected to turn effective in August.

Orders for 15 units of dual-fuel 7,000TEU containerships were placed by Yangzijiang&rsquo s repeat customer, Seaspan Corporation. They will be delivered progressively between 2023 to 2024.

 

The containerships will be fitted with Type &lsquo B&rsquo LNG Fuel Tank, where Yangzijiang took part in the design of the LNG fuel storage.

 

The orders mark an accomplishment for the group and represents the shipowner&rsquo s recognition in the capabilities and technology towards the LNG tanks jointly designed by the group.

 

Yangzijiang&rsquo s clinching of the orders for these dual-fuel containerships also signified the end of a monopoly for LNG dual-fuel engine vessels previously dominated largely by the Korean shipyards, says the group.

 

To date, Yangzijiang&rsquo s existing orderbook of US$8.74 billion remains a record-high in the group&rsquo s history.

 

The group says it remains confident in securing more order wins amid continued favourable market sentiments.

 

The Mainboard-listed group, on June 23, announced its largest order wins as well as a record-high outstanding orderbook.

 

&ldquo The clinching of contract for LNG dual-fueled vessels&hellip is a history-making moment for the Group. This momentous achievement has placed Yangzijiang amongst the playing field of other shipyards that were known to enjoy monopoly over the construction of dual-fuel engine vessels, and this was only possible through our continuous R& D efforts,&rdquo says Ren Letian, executive chairman and CEO of the group.

 

&ldquo These engines and vessels are in compliant with and even exceed the already underway regulations including Energy Efficiency Design Index (EEDI) " Phase 3" initiated by the IMO. As the shipping industry move towards sustainable development and pivots to carbon-neutrality, we are confident that more shipowners will opt for such vessels to ensure functionality and relevance of new built vessels and we are optimistic in clinching more of such orders,&rdquo he adds.