Broker’s Take on Yangzijiang Shipbuilding
According to a July 21 report from The Business Times, citing DMG & Partners Research, Yangzijiang Shipbuilding won $234m worth of new contracts in Q2, boosting year-to-date contract wins to $430m, equivalent to 29% of FY2009 revenue. Ten of the new vessels ordered will be delivered before July 2012. At June 30, Yangzijiang had an order book of $5.23b, comprising 124 vessels. This excludes $338m of orders for 20 vessels from 51%-owned Jiangsu Yangzijiang Changbo Shipbuilding. Based on the current order book run-rate, the orders can last for another three years.
(Source: The Business Times)