YZJ

YZJ: Shipping news agencies have reported 6 newbuilds ordered by Lomar to be built by Yangzijiang. The 1100 TEU capacity vessels are to have improved fuel consumption and ability to carry up to 220 reefer containers. These are scheduled for delivery from May 2014 onwards and take Lomar's fleet to over 50 vessels. No amount was mentioned. The contract pales in comparison to the prev twenty-five 10k TEU containerships contract for Seaspan at US$2.5b. This contract is for six 1100 TEU vessels. YZJ has not announced this contract yet on SGX but has a history of disclosing order wins periodically Co has an outstanding orderbook of US$4.5b as at 31 Mar 2012 and currently trades at P/B of 1.4x