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About 25p undervalued IMO but why the interest. Bound to be some positive news about the rig and related work - new orders perhaps. Also MGR could be a massive earner as operational gearing will work in its favour
well below net asset value, results due end of May, latest rig update - good luck all
Indeed, our JV partner YZJ is looking to have an increasingly more positive, brighter future, with increased orders, diversify and continue to grow, and take on challenges, as that first quarter 2018 link suggests, The Finals due in a month or so, will demonstrate similarly progress for AMED and I'm convinced the offshore yard, will be involved in a major development later this year[possibly LNG related]. We should hear in the Finals, news on the rig and MGR Resources continued growth too.
https://splash247.com/yangzijiang-shipbuilding-acquires-major-stake-domestic-bulker-owner/
results due May - will give update to rig sale
http://seanews.co.uk/project-forward-inks-pact-with-jiangsu-yangzijiang-shipbuilding-group/
�So for these reasons, when it comes to investing for a couple of decades into a fleet, then definitely LNG is THE fuel of choice,� https://worldmaritimenews.com/archives/247762/what-will-be-the-marine-fuel-of-the-future/
I came across this recent article, could be very significant for our offshore yard sometime in the future. Our JV partner YZJ's Chairman Ren Yuanlin & CFO Liu Hua give insight on developing tie-ups & LNG fuel stations (which I believe will involve our offshore yard) It's been mentioned before in previous years by the Chairman, Clean Energy Vessels/LNG will be part of our offshore yard's future but this article, dated earlier this month, gives the greatest detail & would appear to be only a matter of time. From the below link, it states 'We are looking into investing in LNG fuel stations along the shorelines of our shipyards as demand for LNG is becoming more widespread. With the rising importance of environmental protection, there is a huge demand for infrastructure in the resource sector. Our shipbuilding value chain is a huge platform for such opportunistic ventures'. Plus they mention 'We are in talks with foreign players with advanced technology to possibly collaborate in high-end LNG carrier vessels. It will be difficult for the Group to maintain high margins if we build only containerships and bulk carriers'. https://www.nextinsight.biz/story-archive-mainmenu-60/940-2018/12056-yangzijiang-fy2017-net-profit-surges-67-to-rmb2-9b-cautions-on-risk-of-margin-erosion
Email and ask.. zafirkarim@leginvest.com
Though it will be come good.. small freefloat.. trading well below nav.. updates will come soon.. else there is the AGM..
Email Zafir and he is very rude.. doesn’t reply!
More latest news on Singapore's Maritime industry's future hxxp://splash247.com/singapores-innovation-drive/
This news today, looks positive & encouraging for our overall area's future growth hxxps://worldmaritimenews.com/archives/246683/singapore-invests-more-in-future-maritime-industry/
Take a look at page 16 of the Q4 report:- http://infopub.sgx.com/FileOpen/Yangzijiang%20-%20PPT%204Q%202017%20final.ashx?App=Announcement&FileID=490937 This shows the revenue trend from 2012-17. Interestingly, jack-up revenue is detailed as follows:- (RMB Millions) FY2014 - 642 FY2015 - 215 Note, this will be the revenue attributable to Yangzijiang. AMED have a 19% interest in the jv, as we know. So if part/all of the physical build costs have already been paid, as one would expect, it places the jv in a strong position when the rig is finally sold. Indeed, if you take Keppel as an example, where they have resold ships/rigs, the total revenue derived from upfront payments plus a resale to a third party, is sometimes greater than the original order value. But let's wait for the detail in the Finals. I suspect negotiations are ongoing. As for today's sales, I note the 31k sale was a purchase from the 27/2.
They more than likely have potential buyers for the rig - just holding out for best price.. 'Out of the 9 terminated contracts, 6 of them had been constructed, the Group had secured new buyers for the 5 commercial vessels, and is actively seeking the best resale price for the jack-up rig.'
Back in the Summer i posted that i thought they'd likely have to sell the rig to an another client. I'm ok with that. As myself & howdlep has posted a number of times over the past months, the offshore, rig market is very much in recovery mode. Ours is one if the most highly spec' rigs built & consequently in demand. However, it needs to be at the right premium price. It won't be sold cheaply. As previous RNS's have mentioned there has been credible interest but i guess they are seeking the best price. It's my opinion that the original client can't raise the required funds; they've had well over a year now since that December 2016 news. But last September's Interims news is puzzling re delivery. DYOR The first trade likely a buy. You can sell hefty amounts at 11.55p. To buy now 13.37p
told ya to sell when I bought (I always buy near the top these days no matter how down the share is! :D).
31 Dec 2017 update.. As a result of terminations of shipbuilding contracts during the year including the group�s construction contract of the jack up drilling rig, inventory at the end of FY2017 increased to RMB2,628 million from RMB2,032 million at end of last year. The group had found new buyers for all of the terminated commercial vessels except for the jack up drilling rig, and is actively seeking for potential buyers for the jack up rig.
Total buys 100k including the 10k at 14.5p. Sells total 70k. No surprise really!
https://www.theedgesingapore.com/yangzijiang-shipbuilding-posts-121-rise-4q-earnings-1417-mil