
nice....if u notice....its not gg down at all....
 
building a base at 94c
cheongsl ( Date: 04-Sep-2013 12:23) Posted:
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darkknight ( Date: 02-Sep-2013 18:16) Posted:
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can provide the URL link to the below information? A bit confused, is this a new Jack up rig order or the  2012 order  with Explorer I that worth only $170M?
samson ( Date: 02-Sep-2013 11:24) Posted:
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Yangtze River will start building's first offshore jack-up drilling platform
 
 
        Recently, the Yangtze River shipping industry announced that its subsidiary Jiangsu Yangtze River Marine Engineering Co., Ltd. (Yangtze marine) is preparing to 350 ft Le Tourneau " super enhanced 116E" -type self-propelled jack-up drilling rigs started cutting steel.
      The jack-up drilling platform of the detailed design of the sea by the Yangtze River and the Explorer 1 Limited co-workers completed the drilling platform is expected to put into operation within two years.
      " Striking steel" in the field of marine equipment engineering and construction means the detailed design phase has been completed, the project is currently in the Marine base in Taicang start building.
      According to the owner introduced, this type of implementation of the most advanced and most stringent international standards for the construction works jackup drilling platform on the market demand, the effective life of 20 years.
      Reportedly, the jack-up drilling platforms Qatar Investment Corporation construction, cost nearly $ 200 million, was received by the Yangtze River shipping industry's first self-elevating drilling platforms orders. The drilling platform in the " LeTourneau Super 116E" on the basis of the design to optimize and strengthen the United States Cameron company provides drilling equipment, the U.S. ship class classification. Operating water depth 350 feet, the maximum drilling depth of 30,000 feet, capacity of 120 people.
Exemption from the Ministry of Transport and shipping enterprises cancellation fees List
Source: China Maritime Service CNSS 2013-08-29 13:58:38   

(From left to right are: Wang Zhiming, Liangxiao An, Zheng Heping)
August 29, the Ministry of Transport held a special press conference to announce a clear specification Water SheQi charges related work situations. According to reports, the total cancellation , shall be exempted from the seven categories of administrative fees charged in the 10 specific projects , to cancel or suspend the collection of four regulatory services fees, and to take measures to regulate the operational and service charges. International and domestic shipping companies to help solve serious out of the current predicament of the important initiatives
Chinese maritime service network compiled a summary of which Ministry of Transport and Water Board, Maritime Bureau specific cancellation and exempt from the toll project .
Which the Ministry of Transport Maritime Bureau canceled and waived fees Project :
1, to cancel the ship out of China's coastal ports escort fees. Maritime authorities decided to cancel the shipping company for the ship escorted out of China's coastal ports and maritime sector by providing escort services.
2, cancel out of the Yangtze River ship escort fees.
3, the cancellation of large LNG ship out of Hong Kong escort fees.
4, eliminating cargo shippers and agents assume unpacking containers carrying dangerous goods inspection process sampling inspection fees.
5, cancellation ship fuel during refueling operations building booms of the cost. Vessels engaged in bulk, liquid, hazardous chemicals for water lightering operations, in accordance with the People's Republic of China " Prevention of Pollution from Ships environmental management regulations" should be laying booms, through research by the oil operations against ships for ways to cancel the maritime sector laying booms costs associated with the column.
6, pause International Ship cleared before the ship left the Chinese port of pollutants prescribed by the ship choose pollutant cleanup port. This measure prevents the ship anchored in international voyages repeated domestic ports in cleanup costs charged pollutants.
7, to suspend the internal transport of coal physical properties testing mandatory. In accordance with domestic routes to transport coal on the implementation of " the International Maritime Solid Bulk Cargoes matters related regulations" requirements, cargo shipper or agent of the need for testing the physical properties of coal. Now cancel enforceable regulations that will reduce testing costs shipping companies.
Ministry of Transport and Water Board canceled and waived fees Project :
1, ship trading service agencies regulate charges . Water Board shall not be required to ship trading profit service organization for the primary purpose principle. Will ship trading service fees associated with shipping price to pay-scale fees, charging methods to solve the high fees and not unified.
2, on the shipping company belongs wholly owned or holding subsidiaries, and between the merger and reorganization of shipping enterprises, involving a change of ownership ship free transactions. For large shipping companies to carry out structural adjustments to facilitate and reduce the burden on enterprises.
3, start sun pilotage work. Pilotage pilotage organizations active disclosure requirements planning, pilotage operations tug assisted standards, pilotage fees content, accept social supervision.
4, to strengthen market supervision and shipping agency. At present, some ports the ship agency mandatory for domestic ship agency, increased the burden on the domestic shipping companies, for which the Department of Transportation requires all incoming administration departments to strengthen supervision and inspection of the ship agency market, according to the law for violations investigated.
Meanwhile, the Ministry of Transport and Water Board and the State Development and Reform Commission is investigating to sort out the port fees relations, regulating port unreasonable charges.
 
China: YZJOE Starts Construction of Le Tourneau Jack-Up Drilling Rig
Posted on Aug 28th, 2013
Creon, the Aim-listed resource and resource infrastructure focused investment company announced that, Jiangsu Yangzijiang Offshore Engineering Co. Ltd. (YZJOE), is ready to â??strike steelâ?? on the construction of its 350ft Le Tourneau â??super enhanced 116eâ?? design self-elevating Mobile Offshore Jack-up Drilling Rig.
This follows seven months of detailed technical engineering work, carried out by YZJOE in conjunction with Explorer 1 Limited (100% owned by Mena Offshore Investments Limited (MENA) and managed by Offshore Logistics (Asia Pacific) Pte Ltd (OLAP)). The rig is expected to be ready for commissioning within two years.
â??Striking steelâ?? in offshore marine construction parlance means that the detailed engineering phase has been successfully completed and execution of the underlying project can now begin at its joint venture yard based in Taicang, outside Shanghai.
Glen Lau, CEO of Creon, stated: â??Self-elevating jack up rigs such as this, built to the most modern and stringent international engineering standards are in short supply and high demand, particularly with the oil majors. They also have the capability to deliver a valid â??working lifeâ?? of up to 20 years.
â??With ever more demanding technical and accommodation specifications, the rig has to be at least semi-automated and have the ability to meet todayâ??s deeper drilling requirements, whilst of course at a highly competitive priceâ??.
Yangtze River shipping industry: Strict process management to preserve the balanced production |
(2013-08-20) Editor Posted: |
        The face of new challenges such as ship concentrate to start building in the first seven months to obtain delivery of the vessel 20, launched 16 ships of the good results.         Since early this year, the overall shipbuilding market is still depressed, then ship owners will is not strong, orders shipping enterprises still difficult to cross the plight of the shipwreck, the Yangtze River shipping industry group also faces new ship to start building focus of new challenges. To this end, the company's various departments to work together, focusing on strengthening production preparation, to ensure segmented supply, improve the integrity of other aspects of the ship into the water to work, " Paul pay shipping, Bao Dai node, security focus ship." In the first seven months, the Yangtze River shipping industry to obtain delivery of the vessel 20, launched 16 ships of the good results, for the realization of the annual plan node has laid a solid foundation.       Take precautions to strengthen the production preparation work       Optimization process to improve the integrity of the water |
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Source: Ta Kung Pao 2011-08-12 09:08:20   
 
Figure: Yangzijiang Shipbuilding will be spending huge sums to improve strength and confidence to the new ship orders
      Singapore-listed China Jiangsu Yangtze River Shipyard chairman Ren Yuanlin said in Singapore yesterday, will be invested in 2013 before four billion yuan (about 623.2 million U.S. dollars), making the shipyard shipbuilding capacity doubled from the current annual amount of 3.5 million truck shipbuilding tonnes to 700 million dwt.         His concerns China to the outside world the problem of excess shipbuilding capacity will, no positive response, but expressed confidence that will receive the new ship orders, because the plant is being designed new ship products, and in capital allocation and utilization on access to bank support.         Ren Yuanlin said the new Yangtze River docks and dock lands and new rich, fully developed in 2013, the shipbuilding capacity will be doubled. All expansion project will be the construction companies cash in bank borrowings. As of the end of June, total orders handheld Yangzijiang is 126, worth $ 5.5 billion.
Yangzijiang Shipbuilding: VLGC orders for Chinese yards?
â?? Potential VLGC orders?
â?? YZJâ??s expertise mainly in other areas
â?? Still weathering the storm well
China building up a VLGC fleet?
According to Platts, a number of Chinese firms are seeking older Very Large Gas Carriers (VLGCs). China does not have a VLGC fleet, but with imports expected to rise along with developments of several propane dehydrogenation plants, China may seek to cut costs by developing its own fleet for longdistance trips. For instance, China Oriental Energy (Donghua Energy) is building a 1.2m mt/year PDH plant for producing propylene at Zhangjiagang and is said to have placed orders for six VLGCs, with up to 16 options at a Chinese yard. Potential orders for YZJ? But could be
early days yet Plattsâ??s sources said that discussions between China Oriental Energy and Yangzijiang Shipbuilding could be restarted, but a final agreement has yet to be reached. Meanwhile, we note that while YZJâ??s Xinfu yard has plans
to build large vessels and has an annual  production capacity of up to 10 Very Large Crude Carriers (VLCCs), the groupâ??s capabilities remain primarily in containerships and bulk carriers. Currently,
Chinaâ??s top VLCC yards are mainly held by China State Shipbuilding (CSSC) and China Shipbuilding Industry Corporation (CSIC), which are state-owned firms. Aiming to be amongst the select few left standing With more than 1,500 yards in China, YZJâ??s CEO expects that more than half of the countryâ??s yards will have to be closed down,
and of the remainder, only 20% are likely to be profitable. In our view, what is imperative for YZJ is to continue its smooth execution, secure orders (albeit at almost breakeven levels), scale up the value chain by building green vessels and developing its offshore capabilities, while waiting for the industry consolidation to run its course. Should it be
one of the few large yards left standing when the dust has settled, YZJ would then find itself in a stronger position than before. Maintain HOLD with S$0.99 fair value
estimate. (Low Pei Han)
. . . . .
OCBC Investment Research
Market Pulse
23 Aug 2013
Adversity Yangtze River shipping industry earnings of the Road
Source: China Ship Online 2013-08-23 13:39:36   

Although the Yangtze River shipping industry in the first half net profit decline, but with most operating at a loss compared to shipbuilding enterprise status, the Yangtze River shipping industry over $ 1.5 billion net profit performance has been really easy.
August 7, one of China's largest private shipbuilding enterprise Yangtze River shipping industry on the Singapore Exchange Limited Interim Report released in 2013. According to reported, Yangtze River shipping industry in the first half net profit of 15.2 billion yuan, down 20%. In this regard, the Yangtze River shipping industry in the mid-year report explained that quarter, primarily due to a decline in the shipbuilding business income excessive actions, but the results for the second quarter has been a noticeable rise.
According to insiders, assessment, despite the Yangtze River shipping industry in the first half net profit decline, but in the whole context of the shipbuilding industry in the doldrums, with the majority of enterprises are operating at a loss compared to shipbuilding, Yangtze River shipping industry over $ 1.5 billion in net income performance has been really difficult .
Yangzijiang chairman Ren Yuanlin Aug. 12 interview that, benefiting from the cost of management control, before the financial crisis as well as the maintenance of high-priced orders ship diversified business of exploration, the company's performance has better performance than the industry status quo. Ren Yuanlin also revealed that, in addition to the future development of shipbuilding industry, the marine business is an important direction for future development of enterprises, and shipping leasing, non-boat manufacturing, financial investments and retrofit of the real estate business will be an important contribution to the part of the corporate profits.
For the recently introduced national shipping industry Deal, Ren Yuanlin said that the New Deal on the torment of private shipbuilding enterprise is certainly a major positive, but this upgrade policy for further details have yet to be introduced in order to play a role.
Ships price and ship financing round towards recovery
Source: International Ship Network 2013-08-23 11:09:48
With the expected recovery of the European economy to the new shipbuilding orders have become increasingly active, there are foreign investors proposed to increase the newbuilding prices.
Korea Investment analyst Kim Hyun said the second quarter of this year, second-hand vessels and newbuilding vessel prices stable towards recovery, and the first half of global ship financing amounted to $ 28.53 billion, an increase of 35.8%. European banks and now in the field of ship financing plays a key role in the United States, Asian banks showing signs of recovery, is the key to recovery shipbuilding market.
Kim Hyun said, " European manufacturing purchasing managers index (PMI) has clearly rebounded, had caught in a quagmire of debt in Greece and Spain are also expected to emerge from the crisis, especially the more positive is that German banks exceeded the domestic financial market ship, trying to change the ship financing of evaluation system. "
For newbuilding prices, the analyst explained, " second-hand boat price growth seems to shift to the new building prices, although there is not a cyclical recovery in the shipbuilding market, but the shipyard has enough orders on hand, and LNG ships and marine equipment market fiery, newbuilding prices to give full confidence. "
Kim said: " LNG demand began to grow, market supply and demand gradually balance the ship, ship finance recovery and other favorable factors, demonstrating newbuilding price rise is expected trend toward a theoretical and practical basis. "
Since the 2008 financial crisis, the shipbuilding market towards the hot from the cold cycle, the current shipbuilding market recovery is expected to increase in the year after the spread Shipyard shares rose.
 
- Potential VLGC orders?
  - YZJ?s expertise mainly in other areas
  - Still weathering  the storm well
 
China building up a VLGC fleet?
According to Platts1, a number of Chinese firms are seeking older Very Large Gas Carriers (VLGCs). China does not have a VLGC fleet, but with imports expected to rise along with developments of several propane dehydrogenation plants, China may seek to cut costs by developing its own fleet for longdistance trips. For instance, China Oriental Energy (Donghua Energy) is building a 1.2m mt/year PDH plant for producing propylene at Zhangjiagang and is said to have placed orders for six VLGCs, with up to 16 options at a Chinese yard.
Potential orders for YZJ? But could be early days yet
Platts?s sources said that discussions between China Oriental Energy and Yangzijiang Shipbuilding could be restarted, but a final agreement has yet to be reached. Meanwhile, we note that while YZJ?s Xinfu yard has plans to build large vessels and has an annual production capacity of up to 10 Very Large Crude Carriers (VLCCs), the group?s capabilities remain primarily in containerships and bulk carriers. Currently, China?s top VLCC yards are mainly held by China State Shipbuilding (CSSC) and China Shipbuilding Industry Corporation (CSIC), which are stateowned firms.
Aiming to be amongst the select few left standing
With more than 1,500 yards in China, YZJ?s CEO expects that more than half of the country?s yards will have to be closed down, and of the remainder, only 20% are likely to be profitable. In our view, what is imperative for YZJ is to continue its smooth execution, secure orders (albeit at almost breakeven levels), scale up the value chain by building green vessels and developing its offshore capabilities, while waiting for the industry consolidation to run its course. Should it be one of the few large yards left standing when the dust has settled, YZJ would then find itself in a stronger position than before. Maintain HOLD with S$0.99 fair value estimate.
1?BW Group orders 4 new VLGCs from South Korea?s Hyundai Heavy Industries?. 14 Aug 2013.
Key financial highlights
HOLD (maintain)
Fair value | S$0.99 |
add: 12m dividend forecast | S$0.04 |
versus: Current price | S$0.935 |
12m total return forecast | 10% |
Analysts
Low Pei Han, CFA (Lead) ● +65 6531 9813 lowph@ocbcresearch.com Wong Teck Ching, Andy ● +65 6531 9817 andywong@ocbcresearch.com
Key information
Market cap. (m) S$3,583 / USD2,797 Avg daily turnover (m) S$10 / USD8 Avg daily vol. (m) 10.6 52wk range (S$) 0.795 1.155 Free float (%) 48.5 Shares o/s. (m) 3,832.1
wow....nice...may even close green ....
Wow! How lucky for those who " hope" the durians this morning at 0.88!!
Excerpts from analyst reports
OSK-DMG ups Yangzijiang Shipbuilding's target from 95 cents to $1.00 Analysts: Lee Yue Jer and Jason Saw ![]() Confidence in winning more orders. YZJ has a net orderbook of USD3.24bn comprising 29 container ships and 42 bulk carriers. YTD, it has secured USD1.01bn in new orders for 27 ships, and Management is confident of winning another USD1.0bn-USD1.5bn for 2H13. We think this is achievable as YZJ has 47 options valued at USD2.54bn with various buyers, which we expect will translate into firm orders. Faster recovery but no near-term catalysts in sight. We believe YZJ will recover from the current downturn faster than its peers given its industry-leading capabilities.  However, we are still NEUTRAL on the stock given the lack of catalysts as new orders are likely to fetch lower margins while earnings momentum remains negative.  We believe investors may like to see more proactive capital management on the companyâ??s part before becoming more positive on the stock.   ![]() |