SGX Stocks and Warrants

Yangzijiang Shipbuilding: US$450m of New Orders YTD

kimeng
Publish date: Thu, 06 Jul 2017, 09:51 AM
kimeng
0 5,634
Keeping track of stocks and warrants news

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.

Source: OCBC Research - 6 Jul 2017

Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment