Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Yangzijiang Advances on Order Outlook: Singapore Mover

Yangzijiang Shipbuilding Holdings Ltd., China’s No. 2 private shipyard, jumped by the most since October 2011 as Credit Suisse Group AG and DBS Group Holdings Ltd. raised their ratings on optimism orders will rise.

Yangzijiang climbed 6.1 percent to S$1.04 at the close in Singapore. More than 54 million shares changed hands, six times the average trading volume in the past three months, according to data compiled by Bloomberg.

“With its strong financial position and low production cost, we expect Yangzijiang to benefit disproportionately from a recovery in newbuild orders,” Credit Suisse analysts Gerald Wong and Louis Chua wrote in a report today. The brokerage raised its rating to outperform from neutral and lifted its share-price forecast to S$1.30 from S$1.10.

Yangzijiang won $1.2 billion of orders so far this year and will likely reach $2 billion by year-end, according to the report. The company may win another $2.5 billion of contracts in 2014, it said.

Orderflow Momentum

The orderflow is gaining momentum due to the low price for new vessels and increasing freight rates, DBS analyst Ho Pei Hwa wrote in a report today. The Baltic Dry Index, which measures the cost of shipping commodities from copper to corn, climbed 4.3 percent yesterday in London to the highest since January 2012.

“This will likely sustain in the coming three to six months given the current strong enquiry levels and optimism of shipping recovery,” Ho said. “A series of shipyard closures and/or capacity cuts in China is deemed positive.”

DBS raised its rating on Yangzijiang to buy from hold and increased its share-price forecast to S$1.22 from S$1.02.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.