YZJ Shipbldg SGD (BS6.SI) stock is soaring 3.40% during Friday's trading session, building on earlier gains as investors react positively to the company's latest milestone in LNG-powered ship construction. The surge comes as Yangzijiang Shipbuilding, a subsidiary of YZJ Shipbldg SGD, announced the delivery of a new 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 ordered by MSC. Notably, it's the fifth large containership built by Yangzijiang equipped with a wind deflector, a technology aimed at reducing wind resistance during sailing. This delivery is part of a larger order secured in October 2022 for twelve such vessels, highlighting Yangzijiang's growing expertise in constructing eco-friendly ships.
Yangzijiang's order book remains robust, with a total of 56 LNG dual-fuel containerships currently in the pipeline. This includes 28 ships with a capacity of 17,000 TEU and 10 with 9,000 TEU capacity, secured in 2024. The company's strong position in the LNG-powered ship market, coupled with the successful delivery to a major client like MSC, appears to be bolstering investor confidence in YZJ Shipbldg SGD's future prospects, driving the stock's impressive performance.
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