YANGZIJIANG SHIPBLDG HLDGS LTD
BS6.SI
Yangzijiang Shipbuilding - US$450m Of New Orders YTD
- Yangzijiang Shipbuilding (YZJ) recently announced that it has secured six effective orders in 2Q17 with a total contract value of US$133m, of which three 1,800 TEU were exercised from existing options, while the remaining three 82,000 DWT bulk carriers were new shipbuilding orders. The six contracts are scheduled for deliveries from 2018-2020.
- YTD, the group has secured a total of 19 effective shipbuilding contracts worth US$450m, and there are nine outstanding options as well.
- At the last results briefing, management reiterated its target for US$1.5b new orders this year. For reference, YZJ won new orders of US$820m in FY16 and US$2.25b in FY15.
- Maintain HOLD with S$1.18 fair value estimate on YZJ.
Low Pei Han CFA
OCBC Investment
|
http://www.ocbcresearch.com/
2017-07-06
OCBC Investment
SGX Stock
Analyst Report
1.180
Same
1.180
