Shares of Yangzijiang Shipbuilding surged after the company secured repeat orders from Norway-based Klaveness Combination Carriers for three vessels. The Singapore-listed company is on track for its largest one-day gain since November, with shares recently up by 5.5% at S$1.35.
According to a Singapore Exchange filing on Sunday, Yangzijiang Shipbuilding has been awarded a contract from KCC to construct three 83,300 deadweight tonnage third-generation ‘CABU’ vessels. The vessels are scheduled for delivery in 2026 and are expected to replace KCC’s older CABU vessels. The contract value has not been disclosed by the company.
The new vessels come with improved fuel-efficient features and enhanced cargo-carrying capacity which can reduce carbon dioxide emissions by about 35%, said Yangzijiang Shipbuilding. This order comes after the company’s successful delivery of eight ‘CLEANBU’ combination carriers to KCC from 2019 to 2021.
Conclusion
This order from Klaveness Combination Carriers is a testament to the trust placed in Yangzijiang Shipbuilding’s manufacturing capabilities. The company’s commitment to sustainability through the construction of more efficient vessels is set to benefit not just KCC but the marine industry as a whole.
