Chinese shipbuilders secure new vessel orders as Beijing pushes for high-margin shift

Chinese shipbuilders have secured a string of new orders for large-scale vessels from domestic and international buyers, building on strong order momentum in the first half of the year, amid China’s push to move the industry up the value chain. Hengli Heavy Industry, a Liaoning-based shipbuilder, has secured construction contracts for six very large ammonia carriers (VLACs) from three international shipowners within one week, its parent company Hengli Group said on Wednesday. Four of the vessels