CSSC Offshore & Marine Engineering (00317) rose more than 3%, at the time of publication, up 3.05%, at the price of HK$16.2, with a turnover of HK$31.7366 million.
According to the Wisdom News app, CSSC Offshore & Marine Engineering (00317) rose more than 3%, at the time of publication, up 3.05%, at the price of HK$16.2, with a turnover of HK$31.7366 million.
According to the International Ships Network, on June 19, China CSSC's subsidiary, CSSC Huangpu Wenchong Shipbuilding Co., Ltd., successfully delivered a 2,300 TEU feeder container ship named "ITAL WIT" (H2448) and a 1,600 TEU feeder container ship named "CA GUANGZHOU" (H2484) ahead of schedule by 237 days. It is reported that Huangpu Wenchong is a holding subsidiary of the company, with the holding ratio of 54.54%. In 2023, Huangpu Wenchong's operating income was 16.1 billion yuan, a year-on-year increase of 26%; net income was 55.31 million yuan, a year-on-year increase of 13%.
Zhejiang Securities believes that with the upswing of the cyclical prosperity and the increasing demand for orders of multiple ship types, shipyard's profitability will improve. On the supply side, shipyards' capacity is almost saturated, but the number of active shipyards and deliveries has decreased significantly, which is expected to drive continuous upward trend in ship prices due to supply and demand tension. Due to supply contraction, difficulties in expanding production, and environmental protection policies, the tight supply and demand are expected to continue driving ship prices to new highs, and the shipbuilding cycle is expected to fluctuate upward.