YZJ Shipbldg SGD: Previously terminated four shipbuilding contracts signed with a specific buyer

YZJ Shipbldg SGD announced that three of its subsidiaries, namely Jiangsu YZJ Shipbldg Group Co., Ltd., Jiangsu Xinyangzi Shipbuilding Co., Ltd., and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd., have terminated four previously signed shipbuilding contracts with a specific buyer, involving four 50,000-ton MR-type oil tankers, with a total contract amount of approximately USD 180 million. The delivery of the four oil tankers was originally planned for the period from 2026 to 2027. Although the subsidiaries had previously conducted comprehensive due diligence on the buyer and its shareholders, the subsidiaries decided to terminate the contracts in light of certain key information disclosed by the buyer recently