Singapore-listed Chinese shipbuilder Yangzijiang Shipbuilding (Holdings) Ltd. reported yesterday that subsidiaries Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd.have entered into shipbuilding contracts worth US$0.7 billion with Seaspan Corporation to build seven 10,000 TEU containerships with options for an additional eighteen identical ships. If all eighteen options are exercised, the total estimated value of the twenty-five 10,000 TEU containerships is expected to be $2.5billion.

The initial seven new ships are scheduled for delivery in 2014 and 2015. 

Yangzijiang Shipbuilding says the ships are of a newly developed container vessel type that is fuel-efficient in nature and that  its proprietary designs meet the current demand for larger capacity eco friendly vessels with lower emissions.

June 10, 2011