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Good job Mr Yang
| China chases Korea |
 
Amid strong activity in large containership market continuing year to date, post-panamax containership exceeding 8,000 teu (VLPP) accounted for 21% (in cgt terms) among global new orders placed in the year to August. With 21 vessels placed only in August, Chinese shipbuilding industry is showing remarkable performance in VLPP market.
According to Clarkson Research, over 80% of VLPP orders have been placed at Korean and Chinese yards since 2006 and Korean builders have won all 16 of the ultra large 18,000 teu containerships ordered in this year to August.
While Korean builders remain dominant in the VLPP market with overwhelming market share, Chinese have showed a difference in vessel size amid fierce newbuilding competition.
Chinese builders have mainly won 8,000-11,000 teu ship orders. However China State Shipbuilding Corporation (CSSC) awarded three 16,000 teu boxships at compatriot shipbuilders, Shanghai Waigaoqiao Shipbuilding (SWS) and Jiangnan Changxing Shipyard, through its affiliated CSSC Shipping (Hong Kong) in August, which is the largest scale of containership ever penned in China.
Moreover, China is showing favorable status in VLPP market, for example, five Chinese yards have succeeded in winning their first VLPP ship orders in the year to date and so on.
So far this year, 8,000+ teu ship orders already exceeded 100 units and, of which, Chinese yards have taken 37 ship orders. China recorded its historic high in VLPP market with 30% share, however still falling behind Korea?s 54%.
Korea has secured compelling share of 80-100% in VLPP market since 2006 till 2011 however declined to 54% y-t-d following last year?s 70% level.
With strong condition in 8,000+ teu sector, VLPP ship orders account for 5.3% of global newbuilding orderbook in numerical terms and so on. In this situation, there is growing attention towards Chinese shipbuilders amid Korea?s having dominant position in VLPP market.
Published : September 25, 2013
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FROM : DBS
Beating the odds
ï?·ï? Launching the first 10k TEU containership on
schedule
ï?·ï? Raise FY14F earnings on better margins and
order wins FY15F earnings to benefit from
property income
ï?·ï? Investment segment is well managed
ï?·ï? Best proxy to shipbuilding recovery in China
maintain BUY on higher TP of S$1.32
First 10k TEU containership on track. Yangzijiang is
hosting a yard visit on 25 Sept in conjunction with the
launching ceremony of its first 10k TEU containership.
Launching is the most important stage of construction,
marking the birth of a new ship. All the blocks are mounted
and joined, and the vessel should be ready to " float" at this
stage. The on-track construction progress of Yangzijiang's
first large containership is a confidence booster.
Raising the bar. The first batch of seven 10k TEU
containership orders will likely yield better gross margins of
15-20% vs earlier expectation of low teens, in the light of
favourable steel cost and forex as well as smooth execution.
As such, we are lifting FY14F shipbuilding gross margins by
2ppts to 18%. We are also raising order win assumption for
FY14 to US$2.5bn (from US$2bn), on the back of active
shipbuilding enquiries and the sizeable US$2.87bn worth of
options that could be exercised in the coming quarters.
Taking these into account, our FY14F net profit is raised by
6.3% to Rmb2.2 bn. We have also introduced FY15 earnings
and have incorporated property income from FY15.
Maintain BUY SOTP-based TP raised to S$1.32. We
have changed our valuation methodology from price to
book, to SOTP, to better reflect valuation for the various
segments of shipbuilding, investment and property. While
some investors have concerns regarding Yangzijiang's
investment segment, it is a supplementary business for
Yangzijiang and its weighting should fall as the shipbuilding
segment recovers. Bad debts have been minimal with proper
AFTER LUNCH MY BOSS CALL ME FOR ME
I have see the web site post Yangzijiang win 6 10,000 TEU containership for 82 millions.
but yangzijiang report in sgx more , 11 10,000 TEU containership for us$0.7billion.
Yangzijiang launched Chinaâ??s first ever 10,000 TEU containership
ï?§ First ever Chinese yard to have secured ordecontainerships
ï?§ As at current date, Group has 11 of such vessels on the order book and also there are options for 14 more
ï?§ Reiterates the Groupâ??s ability to scale up the value chain with securing orders and building higher capacity eco-friendly vessels
SINGAPORE â?? 25 September 2013 â?? Yangzijiang Shipbuilding (Holdings) Limited (â??Yangzijiangâ?? or â??the Groupâ?? or â??æ?¬å?æ±?è?¹ä¸?æ?§è?¡æ??é??å?¬å?¸â??), one of PRCâ??s leading and most enterprising shipbuilder listed on the SGX Main Board, is pleased to announce that today, the Group has launched its first ever 10,000 TEU containership from its Jiangsu New Yangzi Shipbuilding Co., Ltd. (â??New Yangzi Yardâ??). This is also the first time ever any Chinese shipyard has built and launched a 10,000 TEU containership.
Till date, the Group has in total 11 of the 10,000 TEU vessels on its order book with options outstanding to get a further 14 more of such vessels. The 11 vessels on the order book came about (1) as the Group through its subsidiaries, New Yangzi Yard and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. (â??Xinfu Yardâ??) entered into shipbuilding contracts worth US$0.7 billion with Seaspan Corporation on 8 June 2011 to build seven units of 10,000 TEU containerships with options for additional eighteen units of identical vessels to be built and (2) as Seaspan Corporation exercised the options on 24 January 2013 to build additional four units of the 10,000 TEU containerships with New Yangzirs for the 10,000 TEU
http://infopub.sgx.com/FileOpen/PressRelease_Launch_of_10000TEU_Eng.ashx?App=Announcement& FileID=257499
Good Luck to all friends
BDI seem showing ahead of economy just like stock market ...from what i see from china after being here for 17 years.. Real economy is not that strong though is improving somewhat. Europe n US might be the contribution factors...
good luck friend n YZJ
ascend88 ( Date: 25-Sep-2013 21:15) Posted:
| Btw BDI just up another 107 to 2127 ! |
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Btw BDI just up another 107 to 2127 !
Good news wait for announcement, anyway they are already in private banking with their extra cash, this will make them more regulated n potentially to spring off another listed company in long run.
ascend88 ( Date: 25-Sep-2013 20:50) Posted:
Wow .. Tomr see if cheong .. We will know.. I see it as +ve
shadow ( Date: 25-Sep-2013 20:15) Posted:
News
Yangzijiang applies to enter private banking sector
a picture goes here
Shanghai:
As China has loosened the regulations on private banking sector and relevant policies are about to be introduced, many private companies are planning to enter the sector.
According to Jiangsu Provincial Government, it has received applications from six local private companies including Shagang Group and Yangzijiang Shipbuilding to set up their own banks.
Yangzijiang Shipbuilding reported a net profit of RMB1.52bn in the first half of this year. [25/09/13]
YZJ going to set up own banks ??????????????????!!!!!!!!!!!!!!!!!!!! Good????
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Yangzijiang partner given buy call
Creon Resources (LON:CRO)
Creon Resources has called for a General Meeting on 17th October 2013. As per the announcement, the company seeks approval of its shareholders on certain issues. First, Creon wishes to change its name to Amedeo Resources. Second, Crean wants to sanction equity-based incentive schemes for the directors in order to align their interests to the long-term performance of the company. Third, it desires to seek approval for the recent appointment of Mr Philippe Petitpierre and Mr Zafar Karim as directors of the company. Besides, Creon has also sought the authority to make market purchases of ordinary shares in the company on the London Stock Exchange.
Our view: The purchase of its own shares by Creon Resources would increase the returns for the shareholders through contraction of shareholder base. The incentive schemes for the directors could provide further motivation. Besides, the company seems to be progressing well on the operational front. The first rig order worth US$170m is on track for delivery. Creon?s partnership with Yangzijiang Shipbuilding has enhanced its ability to source significant contracts resulting in a strong order book, besides the benefits from the use of Yangzijiang?s state of the art yard and infrastructure. The returns from the acquired 49% stake in MGR Resources, a ferrous metal and ore trader, are expected to begin flowing soon. Given the potentially positive outcomes of the resolutions at the general meeting and a sound progress at the Le Tourneau rig, the stock could showcase a major upside in revenue going forward. We retain a Speculative Buy for the stock
Wow .. Tomr see if cheong .. We will know.. I see it as +ve
shadow ( Date: 25-Sep-2013 20:15) Posted:
News
Yangzijiang applies to enter private banking sector
a picture goes here
Shanghai:
As China has loosened the regulations on private banking sector and relevant policies are about to be introduced, many private companies are planning to enter the sector.
According to Jiangsu Provincial Government, it has received applications from six local private companies including Shagang Group and Yangzijiang Shipbuilding to set up their own banks.
Yangzijiang Shipbuilding reported a net profit of RMB1.52bn in the first half of this year. [25/09/13]
YZJ going to set up own banks ??????????????????!!!!!!!!!!!!!!!!!!!! Good????
|
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News
Yangzijiang applies to enter private banking sector
a picture goes here
Shanghai:
As China has loosened the regulations on private banking sector and relevant policies are about to be introduced, many private companies are planning to enter the sector.
According to Jiangsu Provincial Government, it has received applications from six local private companies including Shagang Group and Yangzijiang Shipbuilding to set up their own banks.
Yangzijiang Shipbuilding reported a net profit of RMB1.52bn in the first half of this year. [25/09/13]
YZJ going to set up own banks ??????????????????!!!!!!!!!!!!!!!!!!!! Good????
Indeed ... Cheong ah .. So many options ..
heavenknow ( Date: 25-Sep-2013 18:42) Posted:
http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content&B=AnnouncementToday&F=1011610#.UkK2R8sZ7qA
Bigger ships more choices for customers |
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http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content&B=AnnouncementToday&F=1011610#.UkK2R8sZ7qA
Bigger ships more choices for customers
Rolling stone gather no moist... Keep into save till next dividend. Endure the fluctuation...
ascend88 ( Date: 25-Sep-2013 16:05) Posted:
I am with u bro .. No point in out too often .. Besides.. Downside limited .. Earn a few cents ... Coms eat up most of it .. And upside is just started ...I am holding tight tight till dividend
oldflyingfox ( Date: 25-Sep-2013 14:33) Posted:
In my view, if you are mid to long term players, you should continue to hold on it. If you still remember the private placement of warrants issued to Citigroup, the conversion price is around S$1.56. Therefore, in order for them to market and sell it out, the share price should be trading above 1.3 to look attractive for the warranty.
So I am bullish in this counter for the next few months. |
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closed 1.12...higher than yester....
not too bad....
I am with u bro .. No point in out too often .. Besides.. Downside limited .. Earn a few cents ... Coms eat up most of it .. And upside is just started ...I am holding tight tight till dividend
oldflyingfox ( Date: 25-Sep-2013 14:33) Posted:
In my view, if you are mid to long term players, you should continue to hold on it. If you still remember the private placement of warrants issued to Citigroup, the conversion price is around S$1.56. Therefore, in order for them to market and sell it out, the share price should be trading above 1.3 to look attractive for the warranty.
So I am bullish in this counter for the next few months. |
|
In my view, if you are mid to long term players, you should continue to hold on it. If you still remember the private placement of warrants issued to Citigroup, the conversion price is around S$1.56. Therefore, in order for them to market and sell it out, the share price should be trading above 1.3 to look attractive for the warranty.
So I am bullish in this counter for the next few months.
some big fish are one days trade
buy and push then block and sell off , happy hours
when the music stop , some you had to hold the baby.
Thought got momentum after yesterday's surge..........on report........today.......rest day...:)
Long voyage Phoenix " Shipbuilding movement" officially came to an end
Source: International Ship Web 25 Sep 2013
To be " laid off" thousands
September 24, the long voyage Phoenix secretaries Gemini Li revealed that more than 6,000 people last year less knitting, the company plans once again through the " negotiation terminate the labor contract labor" approach, to reduce 1000 employees. But it said, " lifting of the labor contract is voluntary, if unwilling to lift, you can not accept, remain with the company, that is, it is a mandatory requirement, it does not belong to layoffs."
If the implementation of the scheme, up to about 10,000 employees * ST Phoenix will be reduced to about 2,000 people.
It is understood that if an employee voluntarily terminate the labor contract, the company continues to work according to an annual 3,800 yuan × age criteria to be payment. " This standard is the same as last year's, and these funds paid by the same group." Gemini Li said that while the present, the company basically working lives of employees in about 20 years.
On this basis, already highly indebted enterprises Sinotrans CSC Group estimates the need once again to pay 80 million yuan or so.
In addition, after years of layoffs, the long voyage Phoenix has a total workforce of more than 2010 people down to the end of 3500 than this year, the long voyage Phoenix will work with nearly a thousand employees " negotiated labor contracts."
New ship " longevity sea" round% off sale
Shipbuilding due to their inability to pay the balance, the long voyage Phoenix shareholders' meeting held yesterday, the company disposed of new ship " longevity sea" wheel motion: " Longevity sea" would go round all the shipbuilding side, the company shelled out 40 million this white Yuan shipbuilding money.
June 2011, the long voyage Phoenix branches and subsidiaries of Cheung Kong post ZHEJIANG CHANGHONG signed a " longevity sea" tankers. Under the contract, the ship 28,000 tons-class coastal cargo ship cost of 94.7 million yuan. As of now, " longevity sea" wheel has basically completed the construction, while the long voyage Phoenix paid only its 40 million yuan shipbuilding money, unable to pay the remaining arrears.
Phoenix CSC previously disclosed data show that as of August this year, " longevity sea" round carrying value of 54.96 million yuan (including the host ( Product Buying supplies ) as well as construction supervision costs).
To solve the problem of arrears, the Yangtze River Branch has agreed to pay for the " longevity sea" wheel of their rights in order to compensate for the price of 54.7 million yuan ZHEJIANG CHANGHONG, wiped out the ship under full construction contract disputes.
Thus, the new ship " longevity sea" will be owned shipbuilding square all round, while the long voyage Phoenix then this white shelled out 40 million yuan shipbuilding money.
Announcement shows that this disposal of assets is expected to generate a loss of approximately 52.14 million yuan, the company credited to profit or loss.
Five vessels involved in shipping unsold
In addition to sale of new vessels, the long voyage Phoenix another five large vessels enforced by a court auction.
Public information, because China Exim Bank loan principal and interest owed about 368 million yuan, Shanghai Pudong Development Bank Wuhan Branch owed to loan principal and interest of about 650 million yuan, Wuhan Maritime Court had ruled that the auction * ST Phoenix 2 45,000 t level, 3 ship 57,300 tons class ships, in order to repay the debt involved in the case against its corresponding.
In fact, this month on the 10th, the 12th, Wuhan Maritime Court has legally batches of these five vessels fulfill the auction process, but has yet to find a buyer.
This year, the shipping industry downturn, BDI freight index up weak, the market demand for large second-hand vessels is not expected. Gemini Li says that the auction is not successful, it may be because the auction side feel upset too. Allegedly, the court may also conduct a second round of auctions.
An insider, the long voyage Phoenix mortgaged ship far more than five, at least 35 vessels are facing mortgage auction risks. However, as long as the right to dispose of these vessels, settlement, it will not affect the company's daily operations.
" Shipbuilding movement" officially came to an end
In addition to reduction in staff size on the outside, the long voyage Phoenix " shipbuilding movement" has officially ended.
In the context of the reform of state-owned assets, after the reorganization of the scale of the long voyage Phoenix started the shipbuilding business. It has built a ship, including nine 58,000 dwt bulk carrier ( ship yard sale ), six 45,000 dwt bulk carrier and a 28,000 t-class bulk carriers and two coastal Yangtze River and the Three Gorges Reservoir District 4000-ton bulk carrier and so on.
Build these huge vessels, the long voyage Phoenix originally planned to invest 7.0 billion, Since then, an additional investment of 20 billion yuan, this " ship" campaign was known as the cost of nearly billion.
However, untimely, the financial crisis, the shipping industry downturn, the long voyage Phoenix pulled into the trough, all vessels have been pledged and gradually be auctioned.
After a series of asset disposal, the long voyage Phoenix team left in the current capacity of more than 100 vessels, the capacity of 100 tons, a total volume of nearly 80 million tons, " All these ships have also been pledged out." Gemini Li expressed Currently,
as long as these vessels are not for disposal, delivery, etc., will not affect the normal operation of the company,
and so far, the company is still in the normal operation, the company's large customer orders like normal, freight rates remain unchanged.
From : AmFraser
Genting
Group - Go Genting! | OVERWEIGHT
- We take stock of our calls on the Genting Group names. We leave
our estimates, calls and TPs unchanged. Genting Malaysia (GENM) is
still our top pick thanks to its aggressive expansions plans at Resorts
World Genting.
- Genting Singapore (GENS) is still a HOLD due to its muted earnings
outlook. While GENS may eventually venture into Japan, positive news
flow is unlikely to materialise until late next year at earliest.
- We like Genting Berhad (GENT), GENM and GENS? largest shareholder.
GENT stands to raise MYR7.4b from the exercise of its warrants, paving
the way for it to embark on M& As on its own rather than via its
