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YZJ Shipbldg SGD
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The Only Shipbuilding Blue Chip in SGX!
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BinderyT
Master |
17-Sep-2024 14:57
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Interesting. I bought more batches at 2.55 and 2.56 just for trading.
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kepoh88
Senior |
17-Sep-2024 13:30
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Kaka hoot ah !! | ||
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Login20
Veteran |
17-Sep-2024 10:14
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Further sharing with all, with the work up on these contract sum to YZJSB cost estimates US$1.217 billion in 3Q24 not including the 10 Vessels with Maserk, and the 34% stake with Tsuneishi Shipbuilding.
DYODD for the above projection and assumptions. Yangzi Mitsui JV with YZJSB hold 51%, if in order. The ONE contract cost US$170 millions per 13000 TEU methanol dual fuel vessel as per the link information.
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Winnertakeall
Master |
16-Sep-2024 20:23
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Date: 16 September 2024 Broker Name: UOB Kay Hian Private Limited Yangzijiang Shipbuilding (YZJSGD) is showing a bullish outlook, supported by favorable technical analysis indicators. The stock is currently trading at S$2.56, and analysts recommend a Trading Buy with an entry price range of S$2.54 to S$2.55. The upside target price is set at S$2.90. Technical IndicatorsThe stock price has rebounded from a thick cloud of support, keeping the uptrend intact. A bullish crossover has occurred between the conversion and base lines, which signals further upward momentum. The MACD indicator is also bullish, and another bullish crossover is likely, further increasing the chances of the stock price moving higher in the near term.Investment OutlookThe potential upside target for YZJSGD is S$2.90, with a recommended stop-loss at S$2.40 to manage downside risks. The recommended timeframe for this trade is 1-2 weeks, and the trading idea should be initiated if the stock hits the entry price range within three trading days.Institutional research provides a fundamentalBUY rating with a higher target price of S$3.40, further solidifying confidence in the stock upward trajectory. The technical and fundamental outlooks for Yangzijiang Shipbuilding both suggest continued positive momentum. |
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Login20
Veteran |
14-Sep-2024 23:41
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Just found up these few contracts with the links below, supposingly not included in 1H24 contract wins that amount to that US$8.48 billions new order, as they are contracts dated after June 24, which seem not highlighted in this thread before, while that 10 new vessels with Maserk was. DYODD. iMarine News Dated 23 July 24, On July 22, Nissen Kaiun, a diversified Japanese shipowner, announced on its official website that it has signed a contract for the construction of four 88,000 m³ Very Large Liquid Ammonia Carriers (VLACs) with Yangzi Mitsui Shipbuilding, a joint-venture shipyard of Yangzijiang Shipbuilding. The new VLACs, powered by liquefied petroleum gas (LPG) dual fuel, are expected to be delivered between the second quarter of 2028 and the first quarter of 2029. They will then be operated by Dubai-based energy trader BGN. As shipowners and shipyards have not yet revealed the price of the order, as a reference, the South Korean shipbuilder HD Korea Shipbuilding & Offshore Engineering (HD KSOE) announced on July 4 that the cost of a single VLAC is about $119 million, if this is estimated, the total value of the order for Yangzi Mitsui Shipbuilding&rsquo s four VLACs is about $476 million (about RMB 3.462 billion). Yangzijiang Shipbuilding Receives Order for 4 VLACs - iMarine (imarinenews.com) iMarine News Dated 2 Sept 24, On July 8, Greek shipping company Danaos Corporation announced on its official website that it has signed contracts with two Chinese shipbuilders for the construction of five medium-sized containerships, with a total order value of $509 million (about RMB 3.702 billion). The five newbuilding orders comprise of one additional 8,258 container vessel to be built at Yangzijiang shipbuilding in China expected to be delivered in 2027 and four 9,200 TEU container vessels to be built at Dalian Shipbuilding Industry Corporation (DSIC) in China, three of which have expected deliveries in 2027 and one vessel in 2028. Danaos Corporation orders five containerships in China - iMarine (imarinenews.com) iMarine News Dated 18 July 24, ONE orders 10 methanol dual-fuel containerships from Jiangnan Shipbuilding and Yangzijiang Shipbuilding As the world&rsquo s major containership owners have recently shifted to liquefied natural gas (LNG) fuel, Oceanic NetLink Shipping (ONE) is still choosing to bet on methanol fuel and has announced the ordering of an additional 10 methanol dual-fuel powered large containerships. According to Trade Winds, ONE has returned to Yangzijiang Shipbuilding and Jiangnan Shipbuilding to place orders for a total of 10 additional 13,000 TEU methanol dual-fuel powered containerships, with both yards to build five units each. ONE orders 10 methanol dual-fuel containerships from Jiangnan Shipbuilding and Yangzijiang Shipbuilding - iMarine (imarinenews.com) iMarine News Dated 18 July 24, TEN has signed contracts with two Chinese shipyards for the construction of a total of five 75,000 dwt LR1 product tankers, with a total order value of about $275 million (RMB 1.996 billion), sources have revealed. Specifically, New Times Shipbuilding is building 2+2 units, which are expected to be delivered from 2027 to 2028, and Yangzijiang Shipbuilding is building 1 unit, which is expected to be delivered in 2027. Greece' s TEN orders five LR1 product tankers from two Chinese shipyards - iMarine (imarinenews.com) |
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Login20
Veteran |
14-Sep-2024 23:16
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Happen to see this link again regarding the 2 LNG carrier contract being cancelled, therefore once again share here for a recap, indicating their delivery time. Yangzijiang opts to build its first LNG carrier duo speculatively as buyer evaporates | TradeWinds (tradewindsnews.com) Yangzijiang opts to build its first LNG carrier duo speculatively as buyer evaporatesBut brokers warn that buying interest in LNG resales has changed 14 August 2024 7:53 GMT Updated 14 August 2024 15:06 GMT By Lucy Hine and Irene Ang in London and Singapore
China&rsquo s Yangzijiang Shipbuilding is constructing its first two LNG carriers on speculation after shipping interests linked to the vessels opted not to move forward with the ships. TradeWinds has been told that payment instalments on Hull Nos YZJ2022-1475 and YZJ2022-1476 have not been made and the yard is opting to continue with their construction for its own account. |
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leroy55
Veteran |
14-Sep-2024 14:29
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PANDA look at this !!! Focus here not Dyna Mac strategic expansion and positive financial prospects justify strong buy rating for Yzj shipping Analyst Lim Siew Khee from CGS-CIMB reiterated a Buy rating on Yangzijiang Shipbuilding (Holdings) (YSHLF &ndash Research Report) and increased the price target to S$3.20 from S$2.50. Lim Siew Khee&rsquo s rating is based on several strategic and financial factors that indicate positive prospects for Yangzijiang Shipbuilding (Holdings). The acquisition of a 34% stake in Tsuneishi Group (Zhoushan) Shipbuilding Co. Ltd. (TZS) for RMB 833 million at approximately 1x FY23 Price-to-Book Value reflects an expansion strategy that is likely to fortify the company&rsquo s order book significantly. TZS&rsquo s existing order book, valued at around US$2 billion with 50 vessels, including bulk carriers and containerships, suggests a robust pipeline of future revenue. Moreover, there is potential for improved margins and earnings through collaboration between YZJSB and TZS, particularly in supply chain management. Reiterating the Add rating and a target price of S$3.20, Lim underscores key catalysts for the stock, such as the completion of a feasibility study and approval for yard expansion, which could generate additional orders of US$850 million to US$1 billion per annum. The forecasted order win rates for the next few fiscal years are quite substantial, bolstering the optimistic outlook. Additionally, the stock is trading at a forward P/E ratio significantly lower than its regional peers, suggesting it is undervalued. While there are risks, such as rising steel costs and potential order cancellations, the overall assessment leans towards a strong buy recommendation, supported by the possibility of stronger-than-expected margin expansion. YSHLF&rsquo s price has also changed moderately for the past six months &ndash from $1.355 to $1.880, which is a 38.75% increase |
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Login20
Veteran |
14-Sep-2024 13:32
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After some thinking into the analyst report on Tsuneishi Group (Zhoushan) Shipbuilding order book to date of estimated US$2bn, new order win for YZJSB 9M24 from this aquirement should be at least US$680 millions being 34% of US$2 bn instead of 34% from the mere US$264 millions eariler stated in my message. Unless if YZJSB does not consider expanding order book via investment as contract win in 9M24. With YZJSB 1H24 order win at US$8.48 bn + estimated US$2 bn (said) from the 10 vessels from Maesrk as reported by Tradewind recently + this US$680 millions, equal total US$11.16 bn for YZJSB 9M24 contract win, 248% acheived versus US$4.5 bn target 2024 contract win. This is base on assumption from available readings. DYODD. Hopefully the above work up sound logical to happen, or better with any other quiet wins. 4Q24 has yet another quarter to acheive anymore contract win. Looking forward for 3Q24 update in usual early or mid November 24 as per last few years schedule. Happy Weekend.
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Login20
Veteran |
14-Sep-2024 11:54
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download (cgsi.com) Yangzijiang Shipbuilding Expanding orderbook via investment ■ YZJSB has acquired 34% of Tsuneishi Group (Zhoushan) Shipbuilding Co., Ltd. (TZS) for Rmb833m on c.1x FY23 P/BV. ■ TZS has 50 vessels in its orderbook - 46 bulk carriers and 4 containerships - with an orderbook amount of US$2bn based on market value of vessels. ■ YZJSB&rsquo s relationship with TZS started in 2022 when the latter acquired Mitsui E& S Shipbuilding which holds 44% in YAMIC. ■ We think there is room for collaboration to improve TZS&rsquo s gross margins and earnings contribution to YZJSB. Reiterate Add and TP of S$3.20. Why buy this? ● YZJSB has acquired 34% of Tsuneishi Group (Zhoushan) Shipbuilding Co., Ltd. (TZS) for Rmb833m. TZS' s FY12/23 NAV stood at Rmb2.45bn. This implies a valuation of 1x FY23 P/BV. Upon completion of the share allotment, TZS will become an associated company of YZJSB. ● We understand from YZJSB management that TZS would like to collaborate with YZJSB to improve its overall supply chain management and margins. ● According to Shipping Intelligence Network, TZS has 50 vessels in its orderbook comprising 46 bulk carriers and 4 containerships. We estimate the orderbook to be about US$2bn based on the market value of vessel prices. ● Major customers for TZS are mainly from Japan and Greece which complements YZJSB&rsquo s. ● Based on the orderbook and assuming a revenue run rate p.a. of Rmb5bn and net margin of 10%, we estimate TZS&rsquo s net profit p.a. could be Rmb500m and c.Rmb170m attributable to YZJSB. Reiterate Add and TP of S$3.20 buy on weakness ● Key catalysts include the conclusion of the feasibility study and obtaining approval from the local government for its yard expansion at Xinqiao Park in the Jingjiang Economic and Technological Development Zone by end-2024. ● In our note dated 15 Jul 2024, we estimated that the new yard will deliver 5-6 vessels p.a., equivalent to US$850m-1bn in orders p.a. Our order win expectations for FY24F/FY25F/FY26F are US$11.3bn/US$5.2bn/US$5.2bn. ● Stronger-than-expected margin expansion is also another catalyst for the stock. YZJSB trades at an undemanding c.8.3x CY25F P/E, vs. Chinese and Korean yards at c.22x and c.15x, respectively. ● Our TP is based on CY26F P/E of 11x, in line with regional peers. Key downside risks: surge in steel costs affecting margins, order cancellations, unfavourable outcome of US investigation into China&rsquo s shipbuilding industry impacting its new order wins |
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Login20
Veteran |
14-Sep-2024 11:39
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Just has this thought this morning, theoretically buying of 34% shares of Tsuneishi Group (Zhoushan) Shipbuilding, also mean buying their order book? If is so, in 1H24, Tsuneishi Group (Zhoushan) Shipbuilding has a total estimated of US$264 millions secured contract as reported in the link, excluding from order book as on FY23 for Tsuneishi Group (Zhoushan) Shipbuilding which is a question mark currently, if the above is in order. Investing with spare cash of US$117 millions for partnerships, technology and slightly more order book besides other sygnery is a positive thing to happen. Just an opinion to share, DYODD. 舟 山 常 石 造 船 -龙 de船 人 (imarine.cn) |
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Winnertakeall
Master |
14-Sep-2024 08:19
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China strengthens grip on global shipbuildinghttps://splash247.com/china-strengthens-grip-on-global-shipbuilding/ |
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s100125
Elite |
13-Sep-2024 16:17
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Here is the link https://thefinance.sg/2024/09/13/3-dividend-paying-blue-chips-pushing-singapores-sti-to-a-6-year-high/
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Winnertakeall
Master |
13-Sep-2024 15:01
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Three Dividend Paying Blue Chips Pushing Singapore STI to a 6 Year High1) SATS (SGX: S58)2) Singapore Telecommunications (SGX: Z74)3) Yangzijiang Shipbuilding (SGX: BS6)Yangzijiang Shipbuilding, or YZJ, has been a standout performer with shares rising 61% year to date. The Chinese shipbuilder owns four shipyards in the Jiangsu province along the Yangtze River, producing a range of commercial vessels including large containerships, bulk carriers and liquefied natural gas carriers (LNG) carriers. For the first half of 2024 (1H24), YZJ revenue rose 15.3% year on year to around RMB 23.1 billion. Gross profit leapt 65.1% year on year to RMB 3.5 billion due to favourable exchange rates and pricing while net profit soared by over 77% year on year to more than RMB 3 billion. Higher profits led the Chinese firm to generate free cash flow (FCF) of RMB 6.6 billion for 1H& rsquo 24, more than three times 1H23 FCF figure of RMB 2.2 billion. No interim dividend was declared for 1H24. However, for 2023, the shipbuilder declared a final dividend of S$0.065, 30% higher than the S$0.05 paid out in the previous year. At S$2.48, shares offer a 2.6% dividend yield. YZJ is poised to grow further, based on its rising order book. For 1H24, the company secured a massive 79 new orders valued at US$8.5 billion, with clean energy vessels driving 79% of the demand. At the end of 1H24, the Chinese shipbuilder said it had a record outstanding order book of US$20.2 billion for 224 vessels, providing earnings visibility to mid-2028. To support its growth, YZJ will be spending around RMB 3 billion over the next two years to expand its Yangzi Xinfu Yard for clean energy ship manufacturing. The Chinese firm will also invest another RMB 1 billion into converting its chemical terminal along the Yangtze river to a LNG terminal. The move will position YZJ as a comprehensive LNG hub with storage and distribution capabilities |
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Panda8
Veteran |
13-Sep-2024 12:43
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The bigger the company expand, the chance of share price to go up is definitely higher. It may be only these few years having up cycle in shipbuilding industry?
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Login20
Veteran |
13-Sep-2024 12:43
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扬 子 江 船 业 1260TEU甲 醇 双 燃 料 集 装 箱 船 &ldquo ECO ZEPHYR&rdquo 轮 交 付 离 厂 -龙 de船 人 (imarine.cn) 扬 子 江 船 业 第 三 艘 1260TEU甲 醇 双 燃 料 集 装 箱 船 &ldquo ECO PONENTE&rdquo 轮 交 付 离 厂 -龙 de船 人 (imarine.cn) 8.33亿 元 ！ 扬 子 江 船 业 收 购 舟 山 常 石 造 船 34%股 权 -龙 de船 人 (imarine.cn) 扬 子 江 船 业 第 10艘 7000TEU集 装 箱 &ldquo 新 扬 子 439&rdquo 轮 出 江 试 航 -龙 de船 人 (imarine.cn) |
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Joelton
Supreme |
13-Sep-2024 11:20
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Yangzijiang Shipbuilding to buy 34% stake in Japanese shipbuilder&rsquo s unit for 833.1 million yuan
The deal will be made through a private share allotment
MAINBOARD-LISTED Yangzijiang Shipbuilding is acquiring a 34 per cent stake in a wholly owned subsidiary of Japanese shipyard Tsuneishi Group for a consideration of 833.1 million yuan (S$158.3 million).
Announcing the joint venture agreement on Thursday (Sep 12), the Chinese shipbuilding group said that it will purchase the stake in Tsuneishi Group (Zhoushan) Shipbuilding through a private share allotment.
Tsuneishi Group, which was founded in 1903, is primarily in the shipbuilding business. Its business includes the construction of new ships, particularly bulk carriers, and it has the largest repair network in Japan.
Its Chinese subsidiary, Tsuneishi Group (Zhoushan) Shipbuilding, is headquartered in China&rsquo s Zhejiang province and focuses on building bulk carriers, container carriers, product tankers, and tugboats.
The consideration for the acquisition, which is based on a willing-seller, willing-buyer agreement, reflects Tsuneishi Group (Zhoushan) Shipbuilding&rsquo s audited net asset value of 2.5 billion yuan as at Dec 31, 2023. No external valuation was commissioned, said Yangzijiang in its press release on Thursday.
The consideration will be paid in cash and will be funded from Yangzijiang&rsquo s internal resources. Upon completion of the share allotment, Tsuneishi Group (Zhoushan) Shipbuilding will become an associated company of Yangzijiang.
The joint venture agreement is a &ldquo significant &rdquo step in strengthening the relationship between both shipbuilding companies, said Yangzijiang.
&ldquo This new joint venture will bring together our strengths in research and development, shipbuilding, and supply chains. By combining our expertise, we&rsquo ll advance the latest shipbuilding technologies, enhance efficiency, and achieve great results together,&rdquo said Ren Letian, the executive chairman and chief executive officer of Yangzijiang.
The two companies have previously collaborated in various areas of shipbuilding through their joint venture in Jiangsu Yangzi-Mitsui Shipbuilding. Yangzijiang said that the latest joint venture is expected to further deepen their partnership.
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Winnertakeall
Master |
13-Sep-2024 10:56
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There are limitations to what the current yards to bulid more vessels and getting new contracts. Acquiring new yards take times (1-2 yrs) to contruct. CEO Ren is forward looking to go into joint ventures with other yards to increase productivity and revenues. More good years to come. Happy investing |
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s100125
Elite |
13-Sep-2024 08:34
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TSUNEISHI Group is ranked 14 in the world among major shipyards according to the 2023 global shipbuilding and marine industry revenue rankings by Kaiji Press. Can expect more contracts coming in and revenues grow for YZJSB.
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Winnertakeall
Master |
13-Sep-2024 07:59
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Yangzijiang Shipbuilding enters JV to buy 34% stake in Tsuneishi Group shipbuilding unit for RMB833.1 milMainboard-listed Yangzijiang Shipbuilding has entered into a joint venture agreement with Japanese conglomerate Tsuneishi Holdings to acquire a 34% equity stake in Tsuneishi Group (Zhoushan) Shipbuilding (TZS) through a private share allotment.Currently, TZS is a wholly owned subsidiary of Tsuneishi Holdings with a paid-up capital of US$73.4 million ($95.8 million). The acquisition has a purchase consideration set at RMB833.1 million ($152.7 million), based on a willing-seller, willing-buyer agreement. The purchase consideration reflects TZS audited net asset value of RMB2.5 billion as at Dec 31, 2023. No external valuation was commissioned. The consideration is set to be wholly satisfied in cash and will be funded from the group internal resources. Upon completion of the share allotment, TZS will become an associated company of Yangzijiang Shipbuilding. In a Sept 12 bourse filing, the group says the joint venture agreement marks a significant step in strengthening the relationship between Yangzijiang Shipbuilding and TZS, through a shared commitment to sustainable growth and a focus on private-sector shipbuilding. Ren Letian, executive chairman and CEO of Yangzijiang Shipbuilding, says: This new joint venture will bring together our strengths in research and development, shipbuilding, and supply chains. By combining our expertise, we&rsquo ll advance the latest shipbuilding technologies, enhance efficiency, and achieve great results together. Shares in Yangzijiang Shipbuilding closed at 3 cents higher, or up 1.22%, at $2.48 on Sept 11. |
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emailpeter
Veteran |
12-Sep-2024 20:49
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Very interesting times.
Let's see if any rise and shortcovering happens over last few days of hammering down. |
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