Greater China

Yangzijiang starts operation of new shipyard

Shanghai: Jiangsu Yangzi Xinfu Shipbuilding, a subsidiary shipyard of Yangzijiang Shipbuilding, has officially started operation.

Yangzi Xinfu Shipbuilding is jointly invested in by Yangzijiang Shipbuilding and Jiangsu Xinfu Shipbuilding. Yangzijiang has invested US45m to control 60% of its equity and will make a further investment of RMB3.6bn to develop the facilities of the shipyard.

Yangzijiang Shipbuilding signed an US$2.5bn contract with Canadian owner Seaspan for 7+18 10000teu containerships in 2011, and according to the contract these ships will be built at Jiangsu New Yangzi Shipbuilding and Yangzi Xinfu Shipbuilding. However, Seaspan has delayed its options for 18 containerships in August, and later it went into a renegotiation for the price with Yangzijiang.

Yangzi Xinfu has started construction of the first 10000teu containership at the yard. [12/12/12]

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