On May 6, Bestway Marine & Energy Technology Co., Ltd. issued an announcement stating that it intends to provide counter-guarantees for the external issuance of letters of guarantee on behalf of its wholly-owned subsidiary, Jiangsu Dajin Heavy Industry, and further intends to provide direct guarantees to Jiangsu Dajin Heavy Industry. These undertakings relate to three 64,500 DWT bulk carriers and two anchor handling tug supply (AHTS) vessels currently under construction by Dajin Heavy Industry.
According to the announcement, Dajin Heavy Industry has signed a construction contract for a project involving three 64,500 DWT bulk carriers, along with the corresponding Ship Export Cooperation Agreement (hereinafter referred to as the “Main Contract”), with Anhui Guomao Haichang Trading Co., Ltd. (Guomao Haichang). Bestway Marine & Energy Technology intends to provide Dajin Heavy Industry with counter-guarantees totaling no more than US$50.25 million regarding the bank guarantee matters involved in the Main Contract; the total value of these guarantees is estimated to be approximately RMB 344 million. Furthermore, Bestway Marine & Energy Technology will sign a Guarantee (Suretyship) Contract with Guomao Haichang. The effectiveness of these counter-guarantees shall be determined on a case-by-case basis, contingent upon the actual effective dates of the respective bank guarantees.
The hull numbers for this batch of bulk carriers are DJHC6601, DJHC6602, and DJHC6603. Construction is expected to begin in May, August, and December 2027, with delivery scheduled for May, August, and November 2028.
Dajin Heavy Industry has secured shipbuilding projects for two 65-meter, 90-ton AHTS vessels and has signed two shipbuilding contracts with the shipowner, NAM CHEONG DOCKYARD SDN. BHD. Bestway Marine & Energy Technology intends to provide guarantees to Dajin Heavy Industry in connection with these two contracts, with the aggregate guarantee amount not exceeding US$15.6 million, and will issue two Corporate Letters of Guarantee. The effectiveness of said guarantees shall be triggered on a case-by-case basis in accordance with the actual payment circumstances.
The hull numbers for this batch of AHTS vessels are SK 927 and SK 928, respectively.
Dajin Heavy Industry is wholly owned by Bestway Marine & Energy Technology, and its core business consists of the design and construction of vessels and offshore engineering structures. In 2025, Dajin Heavy Industry generated operating revenue of RMB 4.05 billion (approximately US$594 million) and a profit of RMB 270 million.