China’s Yangzijiang Shipbuilding Shares Hit Six-Year High as Q2 Profit Jumps

SINGAPORE, Aug 8 (Reuters) - China's Yangzijiang Shipbuilding Holdings Ltd reported a 73 percent increase in second-quarter net profit, helped by higher revenue from the construction of larger-size vessels, sending its shares to their highest in more than six years. Yangzijiang posted a net profit 719.9 million yuan ($107.12 million) for the quarter ended June, boosted by … [Read more...]

From Worst to Best: A Shipbuilder’s Fortunes Turn Around

By Krystal Chia and Livia Yap (Bloomberg) -- A recovery in demand for new bulk carriers has helped Singapore’s worst-performing stock in 2016 become its best this year. Yangzijiang Shipbuilding Holdings Ltd., which specializes in dry-bulk carriers, has rallied 83 percent in 2017 to lead the benchmark Straits Times Index. The Chinese shipbuilding firm has made a comeback … [Read more...]

Singapore’s Stock Rally Looks to Be Floating on Foam

By Christopher Langner (Bloomberg Gadfly) -- Read the shipping and offshore oil industry news in Singapore and you'd be forgiven for imagining the country's stock market must also be in the doldrums. A string of restructuring and bankruptcy proceedings was capped last week with reports that distress at oil-services company Ezra Holdings Ltd. has deepened. Ezion Holdings … [Read more...]

Yangzijiang Shipbuilding Reports Record Earnings

Yangzijiang Shipbuilding (YZJ) reports today record earnings of RMB 1.24 billion in their second quarter. As the third largest shipyard in China by market cap, Yangzijiang is one of the few publicly-listed yards located in China that is prospering amid a shipbuilding down turn that has devastated others in the sector. The company's USD $5.02 billion order book currently … [Read more...]

Paragon Orders Kamsarmax Bulk Carriers from Yangzijiang

PRESS RELEASE - ATHENS, Greece (March 5, 2014) - Paragon Shipping Inc. (NASDAQ: PRGN) ("Paragon Shipping" or the "Company"), a global shipping transportation company specializing in drybulk cargoes, announced today that it has signed shipbuilding contracts for three eco-design Kamsarmax drybulk carriers. These eco-design Kamsarmax newbuildings have a carrying capacity of 81,800 … [Read more...]