(Yicai) Sept. 3 -- China CSSC Holdings, the listed arm of the country's largest shipbuilding conglomerate

China State Shipbuilding Corporation, said it has received an order for 10 8,200 car equivalent unit dual-fuel pure car and truck carriers worth more than USD1 billion, its second big deal in less than a week.

The 10 vessels, designed to use liquefied natural gas, will be built by Guangzhou Shipyard International for a well-known shipowner, China CSSC announced late yesterday. Deliveries are scheduled between 2029 and 2031, with payments expected in US dollars, it noted, without disclosing further details about the deal or the client.

The project is conducive to fully utilizing Guangzhou Shipyard’s core advantages in the design, research and development, final assembly and construction, and quality control of large roll-on-roll-off ships, China CSSC noted, adding that it will enhance its brand influence in the PCTC market and positively impact future performance.

On Aug. 29, China CSSC announced that its subsidiary Shanghai Waigaoqiao Shipbuilding had landed a USD2.7 billion deal to build 12 21,700 twenty-foot equivalent LNG dual-fuel container vessels for the ship asset investment unit of container transportation giant COSCO Shipping Holdings.

In a separate announcement late yesterday, China CSSC said a temporary arbitration tribunal in London recently made a final ruling rejecting all arbitration requests from a subsidiary of Singapore’s ESSM for Waigaoqiao Shipbuilding to return the USD18.1 million advance payment and interest paid for a previous deal.

ESSM committed to becoming a marine drilling equipment lessee and signed a construction contract for a self-elevating drilling platform with Waigaoqiao Shipbuilding in 2013. But the project's special purpose vehicle decided to terminate the deal in June 2016 and submitted an arbitration request in 2017 for Waigaoqiao Shipbuilding to return the USD18.1 million advance payment and interest. The defendant won the preliminary arbitration in April 2019.

The latest ruling is expected to bring an additional profit of about CNY98.9 million (USD14.7 million) this year, with the final amount subject to annual audit results, China CSSC pointed out.

Shares of China CSSC [SHA: 600150] rose 1.2 percent to CNY34.35 (USD5.11) apiece as of 1.30 p.m. in Shanghai today, after earlier jumping by as much as 3.3 percent.

Editor: Martin Kadiev