Yangzijiang Bags Orders for Six VLOCs

Maritime Activity Reports, Inc.

April 14, 2016

Photo: Yangzijiang Shipbuilding Group

Photo: Yangzijiang Shipbuilding Group

 China’s biggest private shipbuilder Yangzijiang Shipbuilding Holdings Ltd has won orders for six dry bulk carriers worth a combined US$510 million.

The 400,000 DWT very large ore carriers (VLOCs) are the largest dry bulk carriers ever awarded to the group, the shipbuilder announced on Wednesday (April 13).
The six vessels will also be the largest VLOCs that Yangzijiang will be building till date. The VLOCs are scheduled for delivery from 2018 to 2019.
The orders were placed by ICBC Leasing,  "marking a rare case where a state-owned ship owner in China places orders with a private shipyard", the company added. ICBC Leasing is a wholly owned subsidiary of ICBC, China’s biggest state-owned bank.
The orders are part of 30 such vessels placed by major Chinese ship owners, including ICBC Leasing, after a deal with Vale S/A to transport iron from Brazil to China over a period of up to 27 years, Yangzijiang said. The other orders were placed with Chinese state-owned shipbuilders, it added.
Yangzijiang Shipbuilding's segments include shipbuilding segment, investment segment, trading segment and other. The shipbuilding segment is engaged in shipbuilding, offshore marine equipment construction and ship design.
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