In March, Yangfan group got 10 Refund Guarantee from the Bank. It not only shows that the brand of Yangfan has been
highly recognized by the banking industry, but also reflects the strong confidence to boost the shipbuilding industry with mutual benefit between banks and yard.
After the 10 new ship orders entry into force, the total number of effective orders of Yangfan Group is up to 75, and the total value of the orderbook reach to 10 billion yuan. The schedule of new building vessels for steel cutting are fully occupied by end of 2015.
The ship export guarantee is issued to guarantee the refund of advance payment received by the applicant under a contract due to the applicant’s non-performance of the contractual obligations. The Refund Guarantee whether be issued in due time are huge influenced by following facts: Shipyard performance liability, vessels’ design and construction maturity, the power and credibility of the shipowner, and the strength and reputation of classification society and the control & use of funds.
In recent years, due to the continuing downturn of shipping market, the shipbuilding enterprises fall into those trouble situation: "difficult to delivery vessel, hard to get shipbuilding orders and financing difficulty". Furthermore, many domestic and foreign financial institutions list shipbuilding industry as the high risk or warning industry, they even tighten or close the financing gate. As one of the largest shipbuilding groups and shipbuilding industry exporting
enterprises in Zhejiang Province, Yangfan group enjoys high growing
development against the trend with increasing investment to develop green shipbuilding technology by saving energy, lowering carbon emission, and protecting environment. In order to enhence brand value and accelerate the upgrading of enterprise restructuring, Yangfan group continues to deepen the business strategy to mass production of orders and professionalization of production, and make efforts to develop new ship mode with much higher added value. Therefore, Yangfan group receives strong support from the banking industry.