Friday, July 2, 2010

YZJ

Samsung Heavy Industries has been awarded a US$1bn shipbuilding order for 10 containerships by Evergreen Marine along with another US$670m contract for 9 tankers from an unspecified customer. The orders has stoked expectations of a pick-up in containership demand with bid requests from owners in S’pore, HK, South America and Greece. Vessel prices also seem t o be rising faster than expected, given firmer freight rates amid ongoing global economic recovery.

Container vessels account for the bulk fo YZJ's orderbook which has remained resilient with no order cancellations. Its recent acquisition of a 51% stake in Jiangsu Changbo Shipyard will add another 400k dwt capacity for it to take on more orders.

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