Guangzhou Shipyard International wins order for four 250,000-ton VLOCs from FMG

2014-07-31 09:00

      Guangzhou Shipyard International (Location Comments News) recently signed a contract with Australia's FMG company for the construction of four 250,000-ton ore carriers. This marks the first cooperation between Guangzhou Shipyard International and FMG, a mining giant in Australia, and is FMG's second collaboration with a Chinese shipbuilding company after signing with Yangzijiang Shipbuilding (Location Comments News) Group.

This cooperation represents Guangzhou Shipyard International's first direct collaboration with a global mining giant, laying a solid foundation for a long-term strategic partnership between the two parties. It signifies that the company's business reach has expanded from the traditional shipping industry to the end-customer sector, significantly enhancing Guangzhou Shipyard International's international market position and further increasing the market recognition and influence of CSSC and Guangzhou Shipyard International. Securing this order will have a positive impact on the market, significantly improving the company's market share in large ore carriers and positively promoting and demonstrating the securing of subsequent ore carrier orders.
Last month, Guangzhou Shipyard International finalized all matters with the original shareholders of Longxue Shipbuilding (CSSC, Baosteel Group, and COSCO Group) regarding the payment of the equity price, audit confirmation of interim profits and losses, and settlement payments. This marks the complete acquisition of Longxue Shipbuilding by the company. Therefore, the four 250,000-ton ore carriers from this contract will likely be built at the Longxue Shipbuilding base.