Yangzijiang emerges as builder of Fortescue VLOCs

JUNE 18, 2014 — Mystery solved. The "undisclosed" Chinese shipyard that will build the four 260,000 dwt very large ore carriers just ordered by Australia's Fortescue Metals Group Ltd (see earlier story) is Singapore-listed Yangzijiang Shipbuilding.

It said today that it has secured a shipbuilding contract for four 260,000 DWT very large ore carriers "from an Australia based ore company listed on the Australian Securities Exchange."

Commenting on the contract win, Executive Chairman Mr. Ren Yuanlin said: "Yangzijiang is emboldened to have secured its first ever 260,000DWT VLOCs order. The Group has observed that shipowners are enhancing their focus on vessels' operational efficiencies and as a result, the shipbuilding industry is experiencing a rise in demand for larger vessels that provide higher carrying capacity. The demand uptrend for these cost effective and higher efficiency vessels is in line with the Group's goal to scale the shipbuilding value chain."