Cosco Corporation (Singapore) says Cosco (Dalian) Shipyard Co., a subsidiary of the company’s 51% owned Cosco Shipyard Group Co, has delivered a bulk carrier of 57,000 dwt, Christine Star, to its Asian buyer.
The delivery documents were signed by and between Cosco Dalian and the buyer on 5 January 2011.
The bulk carrier measures 190m in length, 32.3m in breadth and 18m in depth.
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COSCO SHP SG
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CoscoCorp
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chris168
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12-Jan-2011 17:07
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The opportunity will knock again. ...... As long as there's no bad news, it is an absolutely beautiful bull to chase in and out. I got it at 2.21 and 2.22 on Mon.
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heavenade
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12-Jan-2011 16:52
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this is one hot bull. regretted selling too early. =( |
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chris168
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12-Jan-2011 16:48
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I felt a bit guilty becos it is so effortless. I bought back some on Mon and sold again just now, contra. Boy! And STI didn't even move much today. Kep Corp, I added another 10 lots ytd, did. YES!! |
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aleoleo
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12-Jan-2011 16:29
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push harder pls ... arh ..... arh ..... | ||||
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aleoleo
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12-Jan-2011 16:10
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will cosco overcome the resistance and reach new peak today ? the recent high is 2.33 ..... push harder please | ||||
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calculus1985
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12-Jan-2011 07:23
Yells: "lollymotion dot com" |
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Cosco move back into overbought region. Where will it go next? read my analysis on Cosco. |
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bsiong
Supreme |
11-Jan-2011 23:29
Yells: "The Greatest Wealth is Health" |
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Cosco Corporation (Singapore) says subsidiaries Cosco (Zhoushan) Shipyard Co. and Cosco (Guangdong) Shipyard Co. have each delivered a 57,000 dwt bulk carrier, theAlmeria and Agria, to their European buyers. The two 57,000 dwt bulk carriers measure 189.99m in length, 32.26m in breadth and 18m in depth. |
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aleoleo
Master |
11-Jan-2011 11:18
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shouldn't fall too much ... support comes | ||||
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xanovax
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06-Jan-2011 17:16
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Wah~ getting YZJ investors to join Cosco for the big push! CLSA says Chinese shipyards’ stellar performance in 2010 will be hard to beat, “and we are cautious into 2011 given the unfavourable bias (relative to the Chinese) towards large containership orders and rising cost inflation.” The house prefers Cosco (F83.SG) over Yangzijiang (BS6.SG) “as Cosco makes further inroads into the offshore sector while YZJ faces delays.” It says more switching from YZJ into Rongsheng (as it comes out of listing blackout) is possible given the valuation gap between the two. It upgrades YZJ to Underperform from Sell and ups the target to
$2.20 from $2.05 after revising up FY11-12F earnings forecast by
14%-24%, reflecting a more gradual decline in margins; but it retains
negative stance “as YZJ needs time to scale the large container learning
curve.”
It says Cosco remains top pick as the company is better positioned
thanks to its SOE parentage and exposure to the less competitive
offshore sector; keeps at Buy and raises the target to $2.60 from $2.25.
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xanovax
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06-Jan-2011 15:39
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this ship is promising! multi-bagger, i like!  |
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aleoleo
Master |
06-Jan-2011 14:21
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Market Focus Cosco Corporation Page 46 www.dbsvickers.com Refer to important disclosures at the end of this reported: MY / sa: YM Bloomberg: COS SP | Reuters: COSC.SI Dark horse • Best performer in 2010, but still way below peak. • Shipbuilding has ample growth potential. • Forerunner in China’s growing offshore market. • TP of S$2.76 offers hefty c.28% upside. A potential multi-bagger blue chip. Cosco was the top performer among shipyards and blue chips under our coverage, gained 80% in 2010. In spite of this, share price is still 75% off its peak achieved in Oct 2007, underperforming peers like KepCorp, SembMarine and Yangzijiang, which are only 5-25% away from peak levels. With the maximization of its 7 yards, Cosco’s share price could potentially climb back to the peak level in the middle term, making it a 2-bagger with: 1) well execution on shipbuilding; 2) more offshore contracts; 3) recovery of repair and conversion business; and 4) rebound of shipping rates to high-peak levels. Ample growth potential for shipbuilding. We believe Cosco has enormous earnings growth potential in the mid-term. While construction lead-time for shipbuilding has shortened over the past one year, it is still at a relatively high 14-16 months compared with <10 months for more efficient yards such as Yangzijiang. Hence, efficiency improvement alone would lift shipbuilding capacity by c.40%. In addition, gross margins for shipbuilding should also grow in tandem with efficiency gains from current 6-8%, to the industry average of c.15%. We have assumed 10-11% gross margin for shipbuilding in FY10-11 and every 1ppt increase in gross margin will add 4% to Cosco’s bottomline. Leading offshore yard in China. Cosco is the first Chinese yard that successfully delivered advanced drilling rig product, SEVAN Driller in late 2009. The Norwegian customer, SEVAN placed its 2nd order of similar cylindrical drilling rig with Cosco in Mar 2010 – a strong vote of confidence. In addition, SEVAN Driller II is the first turnkey project awarded to a Chinese yard, crowning Cosco as the top offshore yard in China. As such, we believe Cosco would be the forerunner in China’s growing offshore market, contributing to 20% of its revenue in 2010, rising to 40% by end 2012 assuming offshore orders of US$2bn next year. Price catalyst – order wins. Current orderbook stands at US$6.1bn with coverage ratio of 2.3x. Our TP of $2.76 offers decent upside of c.28%. Maintain BUY. Key risks to our forecast include execution disappointments, slow contract flow and weak shipping rates. |
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xanovax
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06-Jan-2011 00:15
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BY AM Fraser on 5th Jan Cosco Enters critical historic $2.30-35 resistance marking low end of $2.30-$3 consolidation region prior to 2007 surge and during subsequent crash with next target at $2.57-66 After nearly a year of consolidation in 2009-early 2010 around $1 to $1.30, followed by a steady climb from $1.50 to almost $2, Cosco staged a good year-end rally to $2.14-19 and another breakout this new year taking in to $2.33 today. Its overbought condition – 14-day RSI at 74 today with 3-days at 97 and above upper Bollinger band ($2.24) must be viewed in the context of the stock’s massive crash from adjusted Oct 2007 peak of $7.86 to 59c a year later. Despite the gains made in the past 2 years, the counter has just passed the 23.6% Fibonacci mark of $2.30 and still a long way to go to reach the 38.2% point at $3.37. The $2.30-$3 zone has featured prominently in its chart pattern, having been the minor breakout in first half of 2007 prior to the surge that saw its price more than doubled to $7.86 in Oct that year. When Cosco subsequently crashed, it stopped at $2.80-$3 in first half 2008 before this support broke and then it held on to $2.30 for a while before all hell broke loose and sank to as low as 59c by Oct 2008. The long road to recovery finally brought it back to $2.33 high today, more than 2 years since it bottomed out and the grand show of strength in early 2011, climbing from $2.14 at year-end, should lead to test of higher resistances at around $2.60, and later $2.80-$3. Buying on weakness as stock reacts to overbought conditions and holding the stock for 6-12 months should be a worthwhile investment as the last 2 years had seen 80c and $1 annual movements with quarterly trading ranges of 40c-60c for much of 2010. Daily, weekly and monthly MACDs are bullish with all the 50, 100 and 200 days SMAs likely to continue their firm uptrend. Since mid-2010, the 50 days ($2.07 now) has held up very well, with the share price below it for only a few days throughout this period. The Company's Stock Trading Account is not allowed to buy or sell security contrary to the recommendation in this report for 3 market days from the date of this report, Jan 5 2011. | ||||
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susan66
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05-Jan-2011 23:00
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That is the price I bought but after that drop back. Finally now coming back, the wait is worth it! Start accumulating, it's just starting, more room to go. Cheers! 
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bsiong
Supreme |
05-Jan-2011 22:42
Yells: "The Greatest Wealth is Health" |
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//
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chris168
Senior |
05-Jan-2011 18:31
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Absolutely phenomenal!! It shot up 0.30, >10% in 2 weeks! I sold my last 10 lots today. How not to?!! Like KepCorp, BB love it. And esp DBSV, I read reports upon reports, they always keep it in their radar.
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joseah
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05-Jan-2011 16:24
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can lah....after CNY
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blueheat
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05-Jan-2011 16:09
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wa lao when can i buy this back??? i sold it back in the days of 2.12... cos most people left this counter liao at that time. |
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joseah
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05-Jan-2011 16:07
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Huat ah.... breaching 2.31...... | ||||
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aleoleo
Master |
05-Jan-2011 14:54
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down turn ?? den u juz sit there n watch loh .... lol
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calvinkwoo3000
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05-Jan-2011 11:21
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it look down turn!!??
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