New Dayang Shipbuilding Lining Up Orders Post-Restructuring

New Dayang Shipbuilding has reportedly inked a Letter of Intent (LoI) with China Development Bank Leasing for the construction of a dozen of bulkers, according to Asiasis.
The LoI was allegedly signed at the company’s inauguration ceremony on November 20 and covers the construction of 12, 63,500 dwt Ultramaxes.
The rebranded Chinese yard has risen from the ashes like a Phoenix, following a comprehensive restructuring process from the Yangzhou Dayang Shipbuilding’s bankruptcy in 2017.
Formerly private Dayang Shipbuilding has been restored as a state-operated shipbuilder, which has set sights on achieving profits in its first three years of relaunched operations.
The yard is said to have collected over 20 orders so far, including eight bulkers from CATIC International Leasing.
Based on the data from VesselsValue, the shipyard has five newbuildings under construction including three Ultramaxes for Avic Leasing, one Ultramax for Bekkers J and one Panamax under construction for an unknown Chinese owner.