Researchersat Maybank used a briefing in which they downgraded Singapore-listed shares ofYangzijiang Shipbuilding to remind clients that the region still suffers fromexcess shipbuilding capacity.
“TheState Council of China has initiated to accelerate the consolidation of theindustry and restrict growth in capacities through a three-year plan through2015,” analysts said.
“Until wesee the consolidation of these excess capacities, we do not expect to see significantimprovement in prices.”
TheMalaysian
