Yangzijiang

Yangzijiang: expectations of more contract wins boosts share price above $1.40 for first time since April. Sentiment in shipbuilding sector underpinned by slew of new orders secured by peers such as Cosco, JES International in past weeks. Transactions in the sale and purchase market have doubled in June on a m-o-m basis, despite dry bulk freight rates having dropped substantially over the last month. OCBC has Buy call with $1.60 target.