Favorable full-year outlook for Yangzijian Shipbuilding: Barclays
FY2013 will have plenty of opportunity.
The company said that it regards its FY2013 outlook favourably, as it sees an opportunity in cashing out from a combination of policy support for shipyards, bottoming out of the shipbuilding cycle and expansion in the offshore segment.
Policy support is manifest in PRC strategic measures to consolidate 70% of the nations shipbuilding capacity into the top 10 local shipbuilding groups and cash-for-clunkers incentives to scrap and rebuild vessels with over 15 years of age. YZJ will also continue its move into offshore engineering this year, having secured an order for jack up rig in 2012.