Yangzijiang: Deutsche hosted Yangzijiang on a corporate day, where house continues to believe that Yangzijiang will be a key beneficiary of the Chinese shipbuilding industry consolidation due to its experience, product quality and customer recognition.
However, new orders will likely slow given weak ship-chartering rates and subdued customer sentiment, and O&M orders should be negatively affected by low oil prices.
Management sees weakness in the dry bulk market in 1H15 and hopes for a recovery in 2HFY15. Group’s US$4.6b order book comprises 116 vessels (96 bulk carriers at US$3.2b and 20 containerships at US$1.4b). It indicated that its yard capacity should be highly utilized until end-2016.
No comments:
Post a Comment