Yangzijiang to Benefit From Ship Orders: Merrill Lynch

Wednesday, April 18, 2012

Bank of America-Merrill Lynch said that it sees Yangzijiang Shipbuilding Ltd. benefiting from potential orders after a revival of interest from container shipping firms in larger vessels.

The broker’s outlook came after reports that Taiwan's Evergreen, the world's sixth-largest container shipping firm, ordered 10 vessels with a capacity of 13,800 twenty-foot containers (TEU) each.

"Evergreen Marine decided to lease ten 13,800-TEU container ships from Korea Infrastructure Investments Asset Management Co (KIIMA). KIIMA will place new build orders with Hyundai Heavy," the broker said in a report. "We expect the other shipping companies to protect their market shares, and more mega-container ship orders are likely to be given to yards like Yangzijiang from mid-2012."

Merrill has a buy rating on Yangzijiang's stock with a target price of S$2.12.

Last year, the world's largest container shipping company, Maersk Line, ordered 10 18,000 TEU ships and later exercised the option for another 10, sparking others like Singapore's Neptune Orient Lines Ltd to increase their fleet (Reuters).

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Korean Shipbuilders in Red

South Korean shipbuilders are struggling with huge losses stemming from the delivery of low-priced ships and a delay in the construction of offshore facilities such as drill ships.

S. Korea Keeps Top Spot in Shipbuilding Beating China, Japan in Q3

South Korean shipbuilders have ranked first in the world outpacing Chinese and Japanese rivals in terms of new orders in the third quarter of the year, reports

TMS Cardiff Gas Orders First LPG Carriers

TMS Cardiff Gas Ltd. has signed a contract with Hyundai Heavy Industries of Korea for the construction of two 78,700 cbm LPG carriers with the option to build another two.

Container Ships

Debris Appears to Belong to Cargo Ship Missing in Bahamas

Search and rescue teams on Sunday located debris which appeared to belong to the cargo ship El Faro that went missing in the eye of Hurricane Joaquin with 33 mostly American crew members aboard,

Recent Vessel Sales - September 2015

Vessel sales for September 2015 (as of October 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built - (Age) -

MARAD to Fund Study on LNG Conversions

MARAD provides funding to further study LNG as marine fuel for containerships The U.S. Maritime Administration (MARAD) announced it has entered a $900,000 cooperative

Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1850 sec (5 req/sec)