Yangzijiang Shipbuilding (Holdings) Ltd. announced that it clinched orders for four (4) 8,000 TEU Liquefied Natural Gas ("LNG") dual-fuel containerships on July 05, 2022. The orders were placed by repeat customer Pacific International Lines and will be progressively delivered in 2025. With demand for green vessels growing, these vessels will be equipped with GTT Mark III membrane containment tank system which is ammonia ready.

The technology, which has been co-developed in-house, demonstrates the Group's focus in moving up the value chain to more complex LNG vessels and lays out a solid foundation for its further business expansion. These orders bring the total new orders secured since 1 January 2022 to USD 990 million for 16 vessels. The 16 vessels are: 4 units of 1,800TEU containerships, 4 units of 8,000 TEU LNG dual-fuel containerships, 4 units of 66,000DWT and 2 units of 63,200DWT bulk carriers, and 2 units of 36,000 CBM Liquefied Ethylene Gas ("LEG") carriers.

The recent order wins for the 2 units of 36,000CBM LEG carriers also showcase the Group's growing expertise in the LNG market. As environmental regulations tighten due to the Paris Agreement, which has a target to reduce harmful emissions by 45% by 2030, the Group envisions a greater demand for clean energy vessels. The Group has dedicated resources to capture a larger market share in this segment.

As of the announcement date, Yangzijiang has a total orderbook value of USD 8.15 billion for 137 vessels, which is expected to keep its yard facilities at a healthy utilization rate with revenue visibility till mid-2025. Yangzijiang will endeavor to leverage on its research and development capabilities to attain more order wins.