Shipyards

Shipyards: Spore-listed Chinese shipbuilders may get boost as China unveils US$5bn fund to help Greek shipping companies buy Chinese vessels. Move announced over weekend by Chinese Premier Wen Jiabao, seen as a boon for Chinese shipyards such as Cosco, Yangzijiang & JES Int’l as contracts from Europe make up significant part of their orderbooks. All 3 stocks have been attracting increased investor interest lately given rising orders for bulk carriers due to lower prices, overall firmer demand from shipowners in China & any additional wave of orders from Greece should help underpin sentiment.