By Ronnie Harui
Yangzijiang Shipbuilding’s shares rose sharply Monday morning after the Singapore-listed company secured repeat orders from Norway-based Klaveness Combination Carriers for three vessels.
Shares were recently 5.5% higher at S$1.35 ($1.00), on track for its largest one-day gain since November.
The shipbuilding and marine engineering manufacturing company has been awarded a contract from KCC to construct three 83,300 deadweight tonnage third-generation ‘CABU’ vessels, slated for delivery in 2026, it said in a Singapore Exchange filing on Sunday. The contract value was not disclosed by the company.
The new vessels are poised to replace KCC’s older CABU vessels and are expected to reduce carbon dioxide emissions by roughly 35% owing to better fuel-efficient features and improved cargo-carrying capacity, Yangzijiang Shipbuilding said. The order comes after the company delivered eight ‘CLEANBU’ combination carriers to KCC from 2019 to 2021.
Write to Ronnie Harui at ronnie.harui@wsj.com
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