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CoscoCorp

China's COSCO (Guangdon) Shipyard Co., Ltd. is to build up to ten Rolls-Royce design UT 771 CDL Platform Supply Vessels for an as yet unnamed " American shipowner."

March 22, 2012

Any idea why unnamed ????

 

Good to short Cosco ...way down...

 

Cosco says 4 shipbuilding contracts worth $133m made effective from Mar 15

Cosco Corporation (Singapore) says that four shipbuilding contracts signed by unit Cosco (Guangdong) Shipyard Co. with an American ship owner for the construction of four UT 771 CDL Platform Supply Vessels (PSVs) at a value of over US$105 million ($133 million) in total have become effective on March 15, 2012.

Delivery of the above four vessels is expected to start in early 2014. In addition, from March 15, the ship owner has the option to declare up to another six contracts for the construction of the same UT 771 CDL PSVs, which have a value of over US$160 million in total.

http://www.theedgesingapore.com/the-daily-edge/business/36530-cosco-says-4-shipbuilding-contracts-worth-133m-made-effective-from-mar-15.html

 

Today is a day for   " marine and shipping" stocks.  Huat arh.

 

technically, cosco may have chance to return to 1.315 .....

 

Panamax rates boosted by higher grain shipments



The overall index, which gauges the cost of shipping commodities such as iron ore, cement, grain, coal and fertilisers, rose 11 points or 1.3 per cent to 855 points.

The Baltic's panamax index rose 1.29 per cent, with average daily earnings for panamaxes up at US$7,542.

Earnings for panamaxes, which usually transport 60,000 to 70,000 tonne cargoes of coal or grains, have dropped 43 per cent this year.

'The Atlantic started to provide much needed support thanks to re-ignited ECSA market, while the Pacific started ... to trend sideways, mainly due to the slacking demand from China,' George Lazaridis of Intermodal Shipbrokers said.

The Baltic's capesize index fell by 0.2 per cent, with the average daily earnings for capesizes down at US$5,531, a drop of about 80 per cent this year. Capesizes typically transport 150,000 tonne cargoes such as iron ore and coal.

'It does not help that Sanko are seeking restructuring, a new cyclone is building up off Western Australia, and the Atlantic market is still inactive,' said broker firm Fearnleys in its weekly report.

Sanko Steamship, one of Japan's oldest shipping firms, is the latest company to announce it is struggling to make payments amid a severe downturn in the dry bulk, tanker and container markets.

Tropical Cyclone Lua was likely to hurtle towards the Western Australia coast by the next morning, as it strengthened to a Category 2 cyclone, and headed south-east towards the east Pilbara coast, reaching Category 3.

The main index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, is down more than 51 per cent this year.

'With the overcapacity issue having already made its presence felt in the first two months of 2012, it is anticipated that the percentage of orders being delayed or cancelled is likely to accelerate this year, greatly outpacing what was seen in 2011,' Intermodal's Mr Lazaridis said.

Average daily earnings for handysize and supramax ships were up at US$7,432 and US$9,650, respectively. -- Reuters

 

(LONDON) The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, rose for the 15th straight day last Wednesday as grain shipments boosted panamax rates.

 

 

Ya Agreed

KiLrOy      ( Date: 15-Mar-2012 17:30) Posted: Most trading house has a basket of equities in which they provide coverage  (typically its also those equities that they have vested interest) also Kim Eng has an obligation to their clients (who trades with them)~ Just takes  the analysis  as a second opinion lor. Its probably better crafted or more 'creditable' than any of us forumers just yelling to BUY or SELL. :)

 

Most trading house has a basket of equities in which they provide coverage  (typically its also those equities that they have vested interest) also Kim Eng has an obligation to their clients (who trades with them)~

Just takes  the analysis  as a second opinion lor. Its probably better crafted or more 'creditable' than any of us forumers just yelling to BUY or SELL. :)

 

thats because Kim Eng is not a share holder.

Cosco did not pay Kim Eng to write. Anyway Kim Eng analysis is bias from the content.

sgnewbie      ( Date: 15-Mar-2012 09:10) Posted: Kim Eng on Cosco http://sg-shares.blogspot.com/2012/03/cosco-corp.html

 

Kim Eng on Cosco

http://sg-shares.blogspot.com/2012/03/cosco-corp.html 

 

BDI Uptrend, giving more hope on freight increase.

12 March 2012

Baltic Dry Index (BDI)      +13     837
Rates

		BCI	(Cape index)	BPI	(Panamax index)	BSI	(Supramax index)
INDEX		1496	-7	912	+23	882	+18
SPOT 4 TCE AVG	(USD)	5718	-68	7309	+180	9223	+188
YESTERDAY	(USD)	5786		7129		9035
YEAR AGO	(USD)	10845		17070		16034

 

Baltic Dry Index continue uptrend - Cosco will move up (Keep finger crossed)

09 March 2012

Baltic Dry Index (BDI)      +12     824
Rates

		BCI	(Cape index)	BPI	(Panamax index)	BSI	(Supramax index)
INDEX		1503	-3	889	+16	864	+23
SPOT 4 TCE AVG	(USD)	5786	-36	7129	+123	9035	+246
YESTERDAY	(USD)	5822		7006		8789
YEAR AGO	(USD)	11038		17115		15985

Hawkeye      ( Date: 10-Mar-2012 10:59) Posted: COSCO eyes " better box" COSCO chairman Wei Jiafu believes container shipping to fare better in 2012. Wei told the TPM 2012 conference that the global container market would fare better this year because of the consistent growth of US and China economies. However, he warned the market rise would accompanied by fluctuations. With many container lines plunging steeply into the red in 2011 due to low freight rates Wei called on both lines and shippers to restore reasonable freight rate levels. Published : March 9, 2012

 

COSCO eyes " better box"

COSCO chairman Wei Jiafu believes container shipping to fare better in 2012. Wei told the TPM 2012 conference that the global container market would fare better this year because of the consistent growth of US and China economies. However, he warned the market rise would accompanied by fluctuations. With many container lines plunging steeply into the red in 2011 due to low freight rates Wei called on both lines and shippers to restore reasonable freight rate levels. Published : March 9, 2012

 

Cosco looks cheaper, and getting some attention today.

Trading in thight band 1.155-1.16-1.165

colin_twiggs      ( Date: 06-Mar-2012 13:29) Posted: The Cosco correction is testing the band of support between 1.10 and 1.15. Respect would present a buying opportunity -- especially if Twiggs Money Flow holds above zero and 63-day Momentum rises above zero -- while failure of support would indicate a larger-scale correction to test primary support at 0.85.

 

The Cosco correction is testing the band of support between 1.10 and 1.15. Respect would present a buying opportunity -- especially if Twiggs Money Flow holds above zero and 63-day Momentum rises above zero -- while failure of support would indicate a larger-scale correction to test primary support at 0.85.

 

 

Still doesn't go up, seems like  been pushing down..NOL already cheong.. when is cosco turn..

 

Cosco’s new orders to yield low to mid-single digit gross margins

  Excluding the four options, the new contract will lift Cosco’s YTD new orders to US$305m.

  According to DBS, Cosco has secured seven bulk carrier contracts and options worth US$190m in aggregate from two European companies comprising:

  1) One unit of 35k dwt handysize vessel to be delivered in 1Q13.
  2) Two units of 64k dwt handymax vessels and four options for similar vessels with eco-friendly and fuelefficient designs. The two contracts are still pending board’s approval and delivery is scheduled in 1Q-2Q14. The delivery for the vessels under options will be 18 months after the contracts are effective.

  Here’s more from DBS:

Contract pricing in line with market. We estimate contract values for the 35k dwt handysize and 64k dwt handymax vessels at about US$22m and US$28m respectively, largely in line with the market. Based Cosco’s current cost structure and efficiency level, these vessels could probably yield low to mid-single digit gross margins.

YTD wins lifted to US$305m. Excluding the four options, the new contract will lift Cosco’s YTD new orders to US$305m, representing 15% of our assumption. Recall that Cosco secured piplelay vessel contracts from SapuraCrest worth US$227m in Jan.

Maintain FULLY VALUED and TP of 88cents, implying PE of 14.7x on FY12F earnings. Poor earnings visibility and steep learning curve will add pressure to share price performance. Upside risks are potential asset injections from the parent, earnings turnaround, recovery of newbuild prices and orders. 

 

Cosco [F83] potential breakout: Expect short-term support at $1.20 medium-term at $1.10.

 

 

 

Cosco wins six contracts worth more than $238m

Cosco Corporation (Singapore) says its units it has secured contracts for seven bulk carriers worth more than US$190 million ($238 million).

Cosco (Guangdong) Shipyard Co won a contract from a European company to build a bulk carrier of 35,000 dwt to be delivered in the first quarter of 2013.

Cosco (Zhoushan) Shipyard won two contracts with option for four more contracts from another European company to build six units of 64,000 dwt bulk carriers with eco-friendly and fuel-efficient designs.

 

cosco CHeong ahhhhhhhhhhhhhhhh :)