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Ren Yuanlin News

11 Oct 2018

Yangzijiang Shipbuilding, Mitsui in Shipbuilding JV

Photo: Mitsui E&S Holdings Co.,Ltd./ Yangzijiang Shipbuilding

A Japanese and a Chinese shipbuilding group have today signed a joint venture, set to start in April 2019, to build and sell merchant ships. Mitsui E&S Shipbuilding Co., Ltd. (Head Office: Tokyo, President and CEO: Tetsuro Koga), in partnership with Yangzijiang Shipbuilding (Holdings), Ltd. (Head Office: Jiangsu Province, Chairman: Ren Yuanlin) and Mitsui & Co., Ltd. (Head Office: Tokyo, President and CEO: Tatsuo Yasunaga), has entered into a shareholders' agreement to establish…

08 Aug 2017

Yangzijiang Shipbuilding Q2 Profit Surges 73%

China’s Yangzijiang Shipbuilding Holdings reported a 73 percent increase in second-quarter net profit, helped by higher revenue from the construction of larger-size vessels,  Reuters reported. The company, which specialises in dry-bulk carriers,  posted a net profit of 719.92 million yuan (S$146 million) for the second quarter ended June 30, 2017. Revenue increased 27 per cent year on year to 3.79 billion yuan in Q2 due to higher contributions across its different businesses. The revenue derived from its shipbuilding business increased 25 per cent mainly due to higher volume of shipbuilding activities with construction of larger-sized vessels.

19 Jan 2016

Chinese Shipyards Sails in Rough Seas

Shipbuilders in China will continue facing rough weather. According to a report in Bloomberg, new orders received by Chinese shipbuilders fell by nearly half last year from 2014, suggesting more consolidation is in order as the country’s appetite for raw materials wanes and shipping rates languish at multiyear lows. Shipyards in China received new orders amounting to 31.3 million deadweight tons last year, a world-leading 34 percent share of the global market. Backlog orders fell 12 percent to 123 million deadweight tons, or 36 percent of global market share. The shipbuilding will lag behind their foreign rivals as cumbersome financing conditions and prolonged excess capacity continue to crimp industry profits and push smaller shipyards out, experts said.

04 Nov 2015

Yangzijiang Secures Two VLGC Orders

The Singapore-listed and China-based shipbuilder Yangzijiang Shipbuilding has secured new orders worth $730m, including two very large gas carriers, between September and October. The  two 84,000 cbm very large gas carriers (VLGCs) were ordered by Shanghai Zhenrong Energy. Yangzijiang had been in talks to secure the two VLGCs since early this year, and the latest order confirmation has reinforced the company’s progress into building higher specification and higher value ships. Apart from the two VLGCs, the orders include four 11,800 TEU container ships ordered by Pacific International Lines (PIL), four 3,800 TEU boxships for Hamburg Sud and two 1,900 TEU ships for Rickmers Group.

01 May 2015

Yangzijiang Shipbuilding in Early Talks on Rongsheng Investment

China's Yangzijiang Shipbuilding Holdings Ltd is considering a possible investment in troubled peer China Huarong Energy Co Ltd , formerly known as China Rongsheng, its executive chairman said on Thursday. Ren Yuanlin said the company was still in early talks with stakeholders, and expected to make a decision on the investment by end-June. "The government, banks, and Rongsheng's major shareholder all hope we can be part of the deal, but whether or not we will get in depends on the asset price," he told reporters at a post-earnings briefing in Singapore, where the company is listed. Yangzijiang, in which Ren owns a 26 percent stake and is the biggest shareholder, is one of China's biggest shipbuilders, and the country's most profitable listed shipyard.

17 Feb 2015

Yangzijiang Diversifies into LNG Vessel Buildiing

Yangzijiang Shipbuilding (Holdings) Limited “Yangzijiang” or “the Group”  one of PRC’s leading and most enterprising shipbuilder listed on the SGX Main Board, is pleased to announce that the Group has secured new shipbuilding orders from JHW Engineering & Contracting Limited, a subsidiary of JACCAR Holdings, the company that owns EVERGAS, a world leader in ethylene and ethane gas transportation, to build two 27,500CBM LNG (Liquefied Natural Gas) carriers. With downpayments duly received, the two LNG vessels worth US$135 million are now effective orders and included in Group’s order book. The orders are schedulded to be delivered in 2017. Commenting on the new LNG order, Mr.

19 Jun 2014

Chinese Leaders Visit Yangzijiang Shipyard

Vice-premier of China’s state council, Ma Kai and Ren Yuanlin

Yangzijiang Shipbuilding Holdings Limited announced that yesterday was a “momentous” for the group, as senior Chinese officials paid visit to Yangzijiang’s shipyard and the group’s chairman received the Outstanding Entrepreneur Award by the Chinese Enterprises Association. On the morning of June 18, Vice-premier of China’s state council, Ma Kai, and Minister of Industry and Information Technology Miao Wei visited the Group’s Jiangsu New Yangzi yard together with national departments, provincial and municipal leaders.

18 Jun 2014

Yangzijiang to Build Huge Ore Carriers for Australia

Hanjin Ami, Yangzijiang’s fourth 10,000TEU delivered June 16

Chinese shipbuilder on the SGX Main Board Yangzijiang Shipbuilding Holdings Limited announced that it has secured a shipbuilding contract for four 260,000DWT very large ore carriers (VLOC). The shipbuilding contract was secured from an Australia based ore company listed on the Australian Securities Exchange and the contract is the first of its kind in Yangzijiang’s orderbook. Yangzijiang’s ability to break into Australia, a new geographical reach, continues to demonstrate shipowners’ growing confidence in Yangzijiang’s shipbuilding competency, the builder said.

27 Feb 2014

Yangzijiang Shipbuilding Eyes Mega Container Ships

Reuters - Yangzijiang Shipbuilding Holdings Ltd, a top Chinese shipbuilder, plans to build more mega container ships for shipowners eager to cut operating costs. Yangzijiang is China's third-largest listed shipbuilder by market capitalisation and has boasted profit margins that dwarf those of domestic and overseas peers. Yangzijiang is ready to hand over its first mega container ship in March, which can move around 10,000 standard twenty-foot (TEU) containers, and is planning to build vessels that can handle up to 18,000 boxes.