Yangzijiang Shipbuilding has been buoyed by the surge in newbuilding orders and inked contracts for 15 vessels, totalling $414m. The order comprises six 82,000 dwt and eight 64,000 dwt bulk carriers and one 94,000 dwt transload vessel, all due to be delivered in 2015 and 2016, and follows on from an eight vessel order in April 2013.

The latest contract brings Yangzijiang's total orderbook for the first half of 2013 to 27 ships totalling $1bn, with 51 options outstanding worth up to $2.6bn. The company said in a press release that it is confident that the Baltic Dry Index hitting a 52 week high of 1179 cause more of its bulk carrier options, totalling $1.08bn, to be taken up.

Yangzijiang also announced today that it has bought the remaining 49% of Jiangsu Yangzi Changbo Shipbuilding for RMB110m ($17.9m), 25% directly and 24% through its wholly-owned subsidiary subsidiary Jiangsu Yangzijiang Shipbuilding Co.