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Jiangnan Shipyard bags $1bn newbuild contracts
Dr.G.R.Balakrishnan Oct 28 2022 International Ports News

Jiangnan Shipyard bags $1bn newbuild contracts

CSSC Jiangnan Shipyard has inked a batch of letters of intent for the construction of six vessels totaling in $1bn.

The transactions include two 175,000 cu m LNG carriers from a Singapore-based owner which are due for delivery by the end of July 2017, and four 98,000 cu m VLECs from two Hong Kong-based owners.

Two of the VLECs are scheduled for delivery at the end of October 2025 and the other two will be delivered by the end of January 2026.

Performance of the letter of intent will being positive impacts to the company’s future income, which could improve the company’s middle and long-term competitiveness and profitability, according to CSSC Holdings.

Earlier this year, Jiangnan Shipyard and ADNOC Logistics & Services entered into shipbuilding contract for the construction of three 175,000 cu m LNG carriers, strengthening Jiangnan’s position in global LNG carrier construction market.