YZJ Shipbldg SGD (BS6.SI) stock is soaring 3.40% in intraday trading, building on its earlier gains. The surge comes on the heels of news that the company's subsidiary, Jiangsu Yangzi Xinfu Shipbuilding, has successfully delivered another LNG dual-fuel containership to Switzerland-based MSC.
The delivered vessel, MSC Savannah, is the eighth in a series of 16,000 TEU LNG dual-fuel containerships for MSC. Notably, it's the fifth large containership built by Yangzijiang equipped with a wind deflector, a technology that reduces wind resistance during sailing, potentially improving fuel efficiency and environmental performance.
Investors appear to be reacting positively to Yangzijiang's strong order book and its leading position in building eco-friendly ships. The company has secured orders for 38 LNG dual-fuel and 23 methanol dual-fuel containerships in 2024, with a total of 56 LNG dual-fuel containerships currently in its order book. This robust pipeline suggests steady future revenue streams and underscores the company's competitive edge in the rapidly evolving, environmentally conscious shipping industry.
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