(Yicai) April 24 -- Dajin Heavy Industry's shares jumped after the Chinese supplier of offshore wind turbine foundations said it has secured orders for eight 210,000 deadweight tonnage bulk carriers worth around USD591 million from two European clients, marking its entry into the continent's ocean transport shipbuilding market.

Dajin Heavy [SHE: 002487] rose 4.5 percent to CNY89.04 (USD13.04) a share as of 10.40 a.m. in Shenzhen today.

The vessels will be built by a subsidiary of Dajin Heavy, with one order worth about USD294 million and the other USD297 million, the Beijing-based parent company said in a stock exchange filing late yesterday. Deliveries are scheduled between 2028 and 2029.

One of the clients is a Norwegian firm focused on operating its own fleet, investing in new vessels, second-hand ship trading, long-term leasing, and developing offshore engineering projects, Dajin Heavy said. The other is a Greek company running a modern large container fleet under long-term charter models and a Capesize dry bulk carrier leasing business.

"The two orders signify further recognition of Dajin Heavy's shipbuilding capabilities by international clients and will likely positively impact future operating performance," according to the firm.

Dajin Heavy previously only focused on manufacturing offshore wind power equipment, before entering the shipbuilding sector after its self-invested Panjin base was put into operation in 2023. It signed construction contracts for a heavy-duty deck special carrier for offshore wind projects with a South Korean client and a non-propelled semi-submersible barge serving offshore wind initiatives with a Norwegian customer last year, with the latter being its first shipbuilding collaboration with a European company.

Editor: Martin Kadiev