China: Jiangsu Yangzi Xinfu Shipbuilding Officially Commences Operation

Jiangsu Yangzi Xinfu Shipbuilding, operating as a subsidiary of Jiangsu New Yangzi Shipbuilding Co., Ltd., has officially commenced operation with the launching of construction of the first 10000teu container ship, SinoShip informs.

The company, based in China, is a joint investment of Yangzijiang Shipbuilding Holdings Ltd (USD 45 million) with 60% stake in the yard and  and Jiangsu Xinfu Shipbuilding.

The vessel under construction forms part of seven-ship order placed by Hong Kong-based Seaspan Corporation  in June last year which are slated for delivery in 2014 and 2015.

The contract is valued at  USD 700 million and it includes an option for building of another 18 additional vessels, which could increase the deal’s overall value to USD 2.5 billion.

[mappress]
Shipbuilding tribune Staff, December 14, 2012