On July 24, Bestway Marine & Energy Technology Co., Ltd. announced that, to meet operational needs, it would provide a guarantee—in the form of a corporate letter of guarantee—for its wholly-owned subsidiary, Jiangsu Dajin Heavy Industry Co., Ltd., in connection with the latter’s application for comprehensive bank credit facilities related to two shipbuilding contracts.
According to the announcement, Dajin Heavy Industry has signed a construction contract for five 1,064 TEU container ships and a corresponding “Ship Export Cooperation Agreement” with China Shipbuilding Trading (Shanghai) Co., Ltd. (CSTC Shanghai). Tianhai Defense has agreed to provide a counter-guarantee to CSTC Shanghai totaling no more than €90 million (approximately RMB 700 million) and has signed a “Guarantee Contract.” The counter-guarantee will take effect on a per-transaction basis, contingent upon the actual effective dates of the respective letters of guarantee.
Dajin Heavy Industry has signed a contract with Jiangsu Xinyangchuan Maritime Development Co., Ltd. (Xinyangchuan Maritime) for the construction of two 6,600 DWT multi-purpose dry cargo vessels, along with all related agreements and corresponding contracts to be executed prior to vessel delivery. Bestway Marine & Energy Technology has agreed to provide Xinyangchuan Maritime with a counter-guarantee totaling no more than US$12.938 million (approximately RMB 87.8568 million) and has signed the corresponding “Guarantee Contract.” The counter-guarantee will take effect on a case-by-case basis, contingent upon the actual effective dates of the respective letters of guarantee.
According to the announcement, the five 1,064 TEU container ships—bearing hull numbers DJHC6337, DJHC6338, DJHC6339, DJHC6341, and DJHC6342—will begin construction successively starting in the second half of 2026, with deliveries continuing through June 2029.
Construction of the two 6,600 DWT multi-purpose dry cargo vessels—bearing hull numbers DJHC6167 and DJHC6168—will commence in August 2026, with a final delivery deadline of January 2029.
According to available information, Dajin Heavy Industry was established in 2012 and is now a wholly-owned subsidiary of Bestway Marine & Energy Technology; it is capable of constructing 30,000 DWT class bulk carriers, container ships, product tankers, chemical tankers, multi-purpose vessels, and wind turbine installation platforms, among others.