Yangzijiang Shipbuilding: record order backlog
Shipbuilding is quietly entering another cycle.
Yangzijiang now has an order backlog of
US$22.4bn,
with shipyards fully booked until 2029.
The order mix is also changing.
About 80% of the orderbook now comes from
clean-energy vessels such as LNG and dual-fuel ships.
The investment story is quite simple:
visibility of earnings
+
5–6% dividend yield.
Among SGX industrial companies,
few have this level of order visibility.
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