YZJ clinches 4 ship orders from PIL to bring orders won this year to $1.39 billion

SINGAPORE (THE BUSINESS TIMES) – Yangzijiang Shipbuilding, together with its subsidiaries, has clinched orders for four 8,000 twenty-foot equivalent unit liquefied natural gas dual-fuel containerships from repeat customer Pacific International Lines.

This brings the total number of new orders secured this year to US$990 million (S$1.39 billion), for 16 vessels.

The shipping company said on Wednesday (July 6) that the new ships will be delivered progressively in 2025.

They will also be equipped with ammonia-ready fuel tanks, which Yangzijiang executive chairman and chief executive Ren Letian believes will provide flexibility to ship owners to switch to ammonia and further contribute to green shipping practices.

As at the announcement date, the company has a total order book value of US$8.15 billion for 137 vessels. This is expected to keep its yard facilities at a healthy utilisation rate with revenue visibility till mid-2025, wrote the shipping firm in its press statement.

Shares of Yangzijiang were trading unchanged at 93 cents at 9.41am on Thursday, after the announcement.