China’s Yangzijiang Shipbuilding has confirmed that it has secured a major order from Graham Porter led Tiger Group for the construction of up to ten dual-fuel 14,000 teu containerships.
The contracts include firm order for two ships and options for another eight. The vessels are scheduled for delivery from mid 2022 and the total value of contracts is up to $1.15bn.
“We appreciate our customer Tiger Group’s trust and support with such a sizeable order with Yangzijiang at a challenging time for both the industry and the world as it tackles the coronavirus outbreak,” said Ren Letian, CEO of Yangzijiang Shipbuilding.
The order will help keep Yangzijiang’s yard capacity utilised for at least the next two years.
While leading Canada’s Seaspan with Gerry Wang, Porter placed a huge number of orders at Yangzijiang, China’s largest private yard. Porter quit Seaspan three years ago and his since focused on a diverse array of investments.