Chinese shipbuilding companies sign large contract with Canadian corporation

Chinese shipbuilding companies on Friday signed a contract in Shanghai with Canada's Seaspan Corporation, the world's largest independent container ship lessor, for the construction of six 13,600 TEU large container vessels.

The contract was signed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd., China Shipbuilding Trading Co., Ltd., and Seaspan Corporation. The contract is the largest shipbuilding order settled in RMB in China this year.

The 13,600 TEU large container vessel in the contract is a green and environmentally friendly container vessel developed and designed independently by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.

With a total length of around 336 meters and a width of 51 meters, it can accommodate a maximum of 14,132 standard containers and offer 2,000 reefer container slots.

The order is the third batch of a total of 15 large container vessels that Hudong-Zhonghua Shipbuilding (Group) Co., Ltd has undertaken this year. It is the first time that the contract is settled in China's currency, the renminbi (RMB), and it is also the largest single shipbuilding order that is settled in RMB for container vessels in China this year, marking a significant step towards advancing the internationalization of RMB.

The construction of the vessels are scheduled to be completed and delivered between 2026 and 2028.

Chinese shipbuilding companies sign large contract with Canadian corporation

Tokyo stocks ended higher on Thursday, with the benchmark Nikkei stock index jumping more than 4 percent and closing at a fresh record high on gains in artificial intelligence- and semiconductor-related shares.

The 225-issue Nikkei Stock Average ended up 3,191.37 points, or 4.61 percent, from Wednesday at 72,366.34.

The broader Topix index, meanwhile, finished 52.71 points, or 1.33 percent, higher at 4,016.47.

On the top-tier Prime Market, electric appliances, information and communication, and glass and ceramics product issues were notable gainers.

The Nikkei stock index surged back above 72,000, reversing a two-day losing streak, as investors chased further gains following U.S. tech giant Micron Technology's strong earnings driven by robust demand for memory chips tied to AI applications, analysts said.

The index held firm throughout the session as investors continued buying heavyweight technology shares, with Advantest and Tokyo Electron among the standout gainers.

Analysts said buybacks and fear of missing out were fueling the rally. The overnight decline in benchmark West Texas Intermediate crude oil futures provided additional momentum.

Japan's Nikkei ends at record high on AI, tech gains