Wednesday, November 28, 2012

[Marine] Year-end Turnaround

Year-end Turnaround

Korean shipbuilders are prospected to see a rally in stocks as newbuilding commercial-ship contracting is expected to turn around by the end of this year.

Analyst Choi Kwang-Sik of LIG Investment & Securities said "During Lehman Shock, stock prices declined for 10 months after technical rally and current ten-month falling will be completed by the next month."

Shipyards saw their prices declined for over the ten months amid newbuilding cancellation and postponement of delivery in 2009. However, in December of the same year, shipbuilders' share prices continued to increase for 17 months to double the previous prices, due to recoveries of macro economy and newbuilding investment.

Choi said "Fundamental should be based for the prices to turn around" and forecasted "If investment for newbuilding boxship, LNG carrier, etc., grows by the end of this year or early next year, market will see the similar situation as in the end of 2009."



Published : November 27, 2012


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