Nov7
German shipping company  Hapag-Lloyd  has entered two contracts with Chinese shipyards for a total of 24 new container ships.

Yangzijiang Shipbuilding Group will construct 12 newbuilds, each with a capacity of 16,800 twenty-foot equivalent (TEU).

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Yangzijiang Shipbuilding, or YZJ, is one of the largest non-state-owned shipbuilding companies in China.

The  blue-chip  group owns four shipyards in Jiangsu Province that can produce a broad range of commercial vessels such as large containerships, bulk carriers, and LNG carriers.

YZJ&rsquo s share price recently notched a 52-week high of S$2.76 and is up 68% year-to-date.

The group released an encouraging business update for the third quarter of 2024 (3Q 2024).

Its orderbook has leapt to US$22.14 billion as of 7 November 2024, up sharply from just US$14.48 billion at the end of last year.

Year-to-date, the shipbuilder has snagged US$11.6 billion of order wins, more than double its target of US$4.5 billion.

Management sees a healthy industry demand outlook for each of its vessel types.

Containerships are projected to grow by a 3.1% compound annual growth rate (CAGR) till 2029, driven by fleet renewals and environmental regulatory shifts.

The crude oil tanker and LNG carrier markets should see 2.5% and 3.6% CAGR till 2029, respectively, with the global energy transition being a key factor driving this growth.

LPG carriers should see the strongest growth of all the categories at 5.5% CAGR in line with strong growth in shale production.
 

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