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Cruising with the ship ..Yangzijiang

Hawkeye
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27-Jul-2013 09:23

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Advantage - open door for PRC Chinese Investor and Traders - They love Yangzijiang. Red Chip.

Disadvantage - most Singaporean do not like to trade in RMB.

Anyway most Singaporean look down on Chinese Counters LOL

Thats my view.

beginners ( Date: 27-Jul-2013 01:37) Posted:

Is there any advantages or disadvantagse with dual currency trade i.e SGD & RBM?

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beginners
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27-Jul-2013 01:37

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Is there any advantages or disadvantagse with dual currency trade i.e SGD & RBM?

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how2win
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27-Jul-2013 00:14

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Scorpio Bulkers Inc. Announces Newbuilding Agreements for Dry Bulk Vessels

MONACO--(Marketwired - July 24, 2013) -

Scorpio Bulkers Inc. (OSLO-OTC: SALT) (or the " Company" ) announced today that it has reached agreements with three yards in China to construct a minimum of 11 and up to 14 newbuilding vessels designed for the carriage of dry bulk commodities.

Bulker Newbuildings

The Company has reached agreements with ChengXi Shipyard CO. Ltd. (" ChengXi" ), Dalian COSCO KHI Ship Engineering Co. Ltd. (" DACKS" ), and Nantong COSCO KHI Ship Engineering Co. Ltd. (" NACKS" ) for the construction of a minimum of 11 and up to 14 dry bulk vessels for approximately $27 million each. The vessels are from 61,000 to 64,000 DWT (" Ultramax" vessels) designed for the carriage of dry bulk commodities. Of the first 11 vessels, 2 will be delivered in the first quarter of 2015, 1 in the second quarter of 2015, 5 in the third quarter of 2015, 2 in the fourth quarter of 2015, and 1 in the first quarter of 2016. The additional vessels, if confirmed, would be delivered 2 in the second quarter of 2016 and 1 in the third quarter of 2016.

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words " believe," " anticipate," " intends," " estimate," " forecast," " project," " plan," " potential," " may," " should," " expect," " pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

Scorpio Bulkers Inc. are a newly established company, listed on the Norwegian OTC, focused on the ownership and operation of a fleet of modern mid-size dry bulk carriers.

Scorpio Bulkers Inc. is incorporated in the Republic of The Marshall Islands and has principal executive offices in Monaco and New York.

www.scorpiobulkers.com

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pasttime
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27-Jul-2013 00:14

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i think, more or less same.

make it more convenient for buyer or seller who is rmb base.

there will be trading in both sgd and rmb,

and price will be difference by rmb/sgd forex rate.

else someone will make the difference to move it back.

there will eventually be a dominate trading currency depending

on the currency base of the big boys. look at hph trust as a similar example.

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WanSiTong
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26-Jul-2013 15:48

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Ooop it's fair !

WanSiTong ( Date: 26-Jul-2013 15:28) Posted:

Come on, I just stated the facts that can all be found in the SGX website !!

To be fare to all Singaporean !!

Hawkeye ( Date: 26-Jul-2013 15:24) Posted:

This is the real world not the one that Singapore School Classroom teach you. You sound so academic.

Why do you think Yangzijiang jump into this Duo Currency trading in such enthusiasm? The Chairman is the most entrepreneur businessman in the world the would not miss this opportunity now that its open. What is not supposed to be for does not mean what it can not be done. Even legally. LO

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Hawkeye
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26-Jul-2013 15:32

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Ya I know and thank you. We are just trying to share our thinking and factual data that we have to help others to invest or trade for those who are new, if our posting worth a cent. and i am using this forum to get whatever news and data that i may miss out and this forum did help.

LOL Thank you. I have Yzj Cosco NOL in my porfolio. :)))

WanSiTong ( Date: 26-Jul-2013 15:28) Posted:

Come on, I just stated the facts that can all be found in the SGX website !!

To be fare to all Singaporean !!

Hawkeye ( Date: 26-Jul-2013 15:24) Posted:

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WanSiTong
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26-Jul-2013 15:28

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Come on, I just stated the facts that can all be found in the SGX website !!

To be fare to all Singaporean !!

Hawkeye ( Date: 26-Jul-2013 15:24) Posted:

WanSiTong ( Date: 26-Jul-2013 15:17) Posted:

anyone understand what he said !!

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Hawkeye
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26-Jul-2013 15:24

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WanSiTong ( Date: 26-Jul-2013 15:17) Posted:

anyone understand what he said !!?

Hawkeye ( Date: 26-Jul-2013 15:14) Posted:

Anyone can circumvent the chinese authority by paying in RMB from China and sell it in Singapore and collect the SGD.

A lot of people already doing it in trades, only now its in Stock Exchange opening the gates legally. Well let the Chinese Authorities worry that.

Who follow rules when money is to be made? Dont be naive. LO

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WanSiTong
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26-Jul-2013 15:17

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anyone understand what he said !!?

Hawkeye ( Date: 26-Jul-2013 15:14) Posted:

WanSiTong ( Date: 26-Jul-2013 15:04) Posted:

In most cases, the traded prices in the two counters (currencies) should theoretically be equivalent or close to each other, taking into consideration the prevailing foreign exchange rate

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Hawkeye
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26-Jul-2013 15:14

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WanSiTong ( Date: 26-Jul-2013 15:04) Posted:

In most cases, the traded prices in the two counters (currencies) should theoretically be equivalent or close to each other, taking into consideration the prevailing foreign exchange rate.

WanSiTong ( Date: 26-Jul-2013 15:01) Posted:

Dual Currency Trading (DCT)

Sorry Hawkeye! I have to clarify this so that members of SJ will not be misled!

Under DCT, Yzj will not bring in/out money from/to China.

Nothing will be changed for Yzj except that their shares can now be traded under dual currency.

There is no new offer of the security as it has already been listed on SGX. Dual currency trading for this security means a secondary trading line in a different currency has been created for this existing security. If the existing security has 1 billion shares in circulation, it will still have 1 billion shares after the addition of a dual currency trading counter. (FAQ 2)

FAQs on Dual Currency Trading

1	What is dual currency trading?
	Dual currency trading is a new functionality that is offered on SGX Securities market. Investors can trade the same security in two currencies and their shares/unit holdings are custodised as a consolidated pool at the depository end.
2	If the security has dual currency trading functionality, does it mean it is listed and offered in two different types of shares with different currency denomination?
	There is no new offer of the security as it has already been listed on SGX. Dual currency trading for this security means a secondary trading line in a different currency has been created for this existing security. If the existing security has 1 billion shares in circulation, it will still have 1 billion shares after the addition of a dual currency trading counter.
3	Currently, when the investor trades a listed security in existing USD counter, he is already able to settle this trade with his broker in SGD (if he buys) or receive proceeds in SGD (if he sell). What is the difference with dual currency trading?
	Citing an example, if the investor wishes to trade a USD-denominated security in Singapore dollars, he can either choose to trade the security with the secondary currency counter (i.e. SGD) on SGX or trade the security with the primary currency counter and settle in SGD with his broker. The difference is that the investor will know the traded price in SGD when he trades, whereas for the latter, he will only know the amount in SGD that he has to pay for, after the settlement of this trade.
4	If the investor buys the units in the SGD counter, can he subsequently sell in the USD counter, or vice versa?
	Yes, the investor can buy from one currency counter and sell in the other currency counter. An investor who does a sell trade must make sure they have sufficient shares in his account. Otherwise, it will be a short-sell and buy-in will apply.
5	If an investor would like to buy or sell the units, which counter is better?
	The investor has the flexibility to trade in either currency counters. He can either trade in the preferred currency counter (say USD) or trade in the alternative currency counter (say SGD) and settle in USD with his broker at the broker’s prevailing exchange rate. The investor can compare these two market equivalent prices and decide the option that will be most suitable for him.
6	If there is a dividend distribution and the investor traded in both currency counters for the listed security, in which currency will the investor receive the distribution?
	For the listed security with dual currency trading, one currency denomination will be the Primary Currency while the second currency denomination will be the Secondary Currency. The Primary Currency is usually the currency denomination in which the listed security is issued in. Dividend distribution will be made in the Primary Currency unless otherwise stated.
7	Does the investor need to open a new account to trade in a security with dual currency trading functionality?
	No new account is required to trade in a dual currency counter. Trading a dual currency security is no different from trading any other listed security. Investors need to have a CDP securities account and a trading account with a broker to trade securities listed on SGX.
8	What currencies are available for dual-currency trading?
	Currently, we offer dual currency trading in SGD, USD, HKD and AUD.
9	What is the cost of trading a security with dual currency trading functionality?
	The usual trading cost (including brokers’ commission, SGX clearing fee and trading fees) applies, similar to any other listed security on SGX.
10	Can the investor do a contra trade between the two counters?
	No, the two currency counters of the listed security are separate trading counters. Contra trade is only possible within the same counter like any other listed security.
11	How will the market value of the dual listed counters be reflected in the investor’s monthly CDP statement?
	The market value of the listed security with dual currency trading functionality will be computed based on the last done price of the Primary Currency counter and the total number of unit holdings of the listed security, regardless of whether the investor purchased the units through the Primary Currency counter or Secondary Currency counter.
12	If the investor is to obtain margin financing from broker on the dual currency counter, how will the valuation be computed?
	Different brokers may have different valuation methodologies to compute the margin requirement. For example, some may use the last done price of the primary currency counter while others may use the traded currency of the counter. Investors are advised to consult their brokers for more information.

http://www.sgx.com/wps/portal/sgxweb/home/trading/securities/dual_currency_trading#

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WanSiTong
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26-Jul-2013 15:04

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In most cases, the traded prices in the two counters (currencies) should theoretically be equivalent or close to each other, taking into consideration the prevailing foreign exchange rate.

WanSiTong ( Date: 26-Jul-2013 15:01) Posted:

Dual Currency Trading (DCT)

Sorry Hawkeye! I have to clarify this so that members of SJ will not be misled!

Under DCT, Yzj will not bring in/out money from/to China.

Nothing will be changed for Yzj except that their shares can now be traded under dual currency.

FAQs on Dual Currency Trading

1	What is dual currency trading?
	Dual currency trading is a new functionality that is offered on SGX Securities market. Investors can trade the same security in two currencies and their shares/unit holdings are custodised as a consolidated pool at the depository end.
2	If the security has dual currency trading functionality, does it mean it is listed and offered in two different types of shares with different currency denomination?
	There is no new offer of the security as it has already been listed on SGX. Dual currency trading for this security means a secondary trading line in a different currency has been created for this existing security. If the existing security has 1 billion shares in circulation, it will still have 1 billion shares after the addition of a dual currency trading counter.
3	Currently, when the investor trades a listed security in existing USD counter, he is already able to settle this trade with his broker in SGD (if he buys) or receive proceeds in SGD (if he sell). What is the difference with dual currency trading?
	Citing an example, if the investor wishes to trade a USD-denominated security in Singapore dollars, he can either choose to trade the security with the secondary currency counter (i.e. SGD) on SGX or trade the security with the primary currency counter and settle in SGD with his broker. The difference is that the investor will know the traded price in SGD when he trades, whereas for the latter, he will only know the amount in SGD that he has to pay for, after the settlement of this trade.
4	If the investor buys the units in the SGD counter, can he subsequently sell in the USD counter, or vice versa?
	Yes, the investor can buy from one currency counter and sell in the other currency counter. An investor who does a sell trade must make sure they have sufficient shares in his account. Otherwise, it will be a short-sell and buy-in will apply.
5	If an investor would like to buy or sell the units, which counter is better?
	The investor has the flexibility to trade in either currency counters. He can either trade in the preferred currency counter (say USD) or trade in the alternative currency counter (say SGD) and settle in USD with his broker at the broker’s prevailing exchange rate. The investor can compare these two market equivalent prices and decide the option that will be most suitable for him.
6	If there is a dividend distribution and the investor traded in both currency counters for the listed security, in which currency will the investor receive the distribution?
	For the listed security with dual currency trading, one currency denomination will be the Primary Currency while the second currency denomination will be the Secondary Currency. The Primary Currency is usually the currency denomination in which the listed security is issued in. Dividend distribution will be made in the Primary Currency unless otherwise stated.
7	Does the investor need to open a new account to trade in a security with dual currency trading functionality?
	No new account is required to trade in a dual currency counter. Trading a dual currency security is no different from trading any other listed security. Investors need to have a CDP securities account and a trading account with a broker to trade securities listed on SGX.
8	What currencies are available for dual-currency trading?
	Currently, we offer dual currency trading in SGD, USD, HKD and AUD.
9	What is the cost of trading a security with dual currency trading functionality?
	The usual trading cost (including brokers’ commission, SGX clearing fee and trading fees) applies, similar to any other listed security on SGX.
10	Can the investor do a contra trade between the two counters?
	No, the two currency counters of the listed security are separate trading counters. Contra trade is only possible within the same counter like any other listed security.
11	How will the market value of the dual listed counters be reflected in the investor’s monthly CDP statement?
	The market value of the listed security with dual currency trading functionality will be computed based on the last done price of the Primary Currency counter and the total number of unit holdings of the listed security, regardless of whether the investor purchased the units through the Primary Currency counter or Secondary Currency counter.
12	If the investor is to obtain margin financing from broker on the dual currency counter, how will the valuation be computed?
	Different brokers may have different valuation methodologies to compute the margin requirement. For example, some may use the last done price of the primary currency counter while others may use the traded currency of the counter. Investors are advised to consult their brokers for more information.

http://www.sgx.com/wps/portal/sgxweb/home/trading/securities/dual_currency_trading#

Topspin70 ( Date: 26-Jul-2013 13:07) Posted:

Thanks for explaining. Didn't realize the implications. So safe to say any further upside potential is curbed by this development then?

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WanSiTong
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26-Jul-2013 15:01

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Dual Currency Trading (DCT)

Sorry Hawkeye! I have to clarify this so that members of SJ will not be misled!

Under DCT, Yzj will not bring in/out money from/to China.

Nothing will be changed for Yzj except that their shares can now be traded under dual currency.

FAQs on Dual Currency Trading

1	What is dual currency trading?
	Dual currency trading is a new functionality that is offered on SGX Securities market. Investors can trade the same security in two currencies and their shares/unit holdings are custodised as a consolidated pool at the depository end.
2	If the security has dual currency trading functionality, does it mean it is listed and offered in two different types of shares with different currency denomination?
	There is no new offer of the security as it has already been listed on SGX. Dual currency trading for this security means a secondary trading line in a different currency has been created for this existing security. If the existing security has 1 billion shares in circulation, it will still have 1 billion shares after the addition of a dual currency trading counter.
3	Currently, when the investor trades a listed security in existing USD counter, he is already able to settle this trade with his broker in SGD (if he buys) or receive proceeds in SGD (if he sell). What is the difference with dual currency trading?
	Citing an example, if the investor wishes to trade a USD-denominated security in Singapore dollars, he can either choose to trade the security with the secondary currency counter (i.e. SGD) on SGX or trade the security with the primary currency counter and settle in SGD with his broker. The difference is that the investor will know the traded price in SGD when he trades, whereas for the latter, he will only know the amount in SGD that he has to pay for, after the settlement of this trade.
4	If the investor buys the units in the SGD counter, can he subsequently sell in the USD counter, or vice versa?
	Yes, the investor can buy from one currency counter and sell in the other currency counter. An investor who does a sell trade must make sure they have sufficient shares in his account. Otherwise, it will be a short-sell and buy-in will apply.
5	If an investor would like to buy or sell the units, which counter is better?
	The investor has the flexibility to trade in either currency counters. He can either trade in the preferred currency counter (say USD) or trade in the alternative currency counter (say SGD) and settle in USD with his broker at the broker’s prevailing exchange rate. The investor can compare these two market equivalent prices and decide the option that will be most suitable for him.
6	If there is a dividend distribution and the investor traded in both currency counters for the listed security, in which currency will the investor receive the distribution?
	For the listed security with dual currency trading, one currency denomination will be the Primary Currency while the second currency denomination will be the Secondary Currency. The Primary Currency is usually the currency denomination in which the listed security is issued in. Dividend distribution will be made in the Primary Currency unless otherwise stated.
7	Does the investor need to open a new account to trade in a security with dual currency trading functionality?
	No new account is required to trade in a dual currency counter. Trading a dual currency security is no different from trading any other listed security. Investors need to have a CDP securities account and a trading account with a broker to trade securities listed on SGX.
8	What currencies are available for dual-currency trading?
	Currently, we offer dual currency trading in SGD, USD, HKD and AUD.
9	What is the cost of trading a security with dual currency trading functionality?
	The usual trading cost (including brokers’ commission, SGX clearing fee and trading fees) applies, similar to any other listed security on SGX.
10	Can the investor do a contra trade between the two counters?
	No, the two currency counters of the listed security are separate trading counters. Contra trade is only possible within the same counter like any other listed security.
11	How will the market value of the dual listed counters be reflected in the investor’s monthly CDP statement?
	The market value of the listed security with dual currency trading functionality will be computed based on the last done price of the Primary Currency counter and the total number of unit holdings of the listed security, regardless of whether the investor purchased the units through the Primary Currency counter or Secondary Currency counter.
12	If the investor is to obtain margin financing from broker on the dual currency counter, how will the valuation be computed?
	Different brokers may have different valuation methodologies to compute the margin requirement. For example, some may use the last done price of the primary currency counter while others may use the traded currency of the counter. Investors are advised to consult their brokers for more information.

http://www.sgx.com/wps/portal/sgxweb/home/trading/securities/dual_currency_trading#

Topspin70 ( Date: 26-Jul-2013 13:07) Posted:

Thanks for explaining. Didn't realize the implications. So safe to say any further upside potential is curbed by this development then?

Hawkeye ( Date: 26-Jul-2013 09:40) Posted:

Yangzijiang with Duo trading in RMB, Yangzijiang can bring money out of China.

Recently Yangzijiang sell 300million warrant to City house with excercise value of $1.5 because YZJ need money to finance it Offshore quest in Singapore.

They buy in RMB and sell in Singapore in SGD.

They can do that, I am not saying that they are doing that

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Hawkeye
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26-Jul-2013 13:21

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If Yangzijiang can bring money out of China then They dont need that money from 300million warrant excercise at SGD1.50. Then should be good development for Yangzijiang Singapore to develope its Offshore unit in Design and Development and commercial.

Performance in Yangzijiang still depend on its ability to get Contract to increase its order book especially its OffShore unit. If I can recall most of Yangzijiang order book is up to 2014 and drying up now. This year if Yangzijiang can get 2.5 billion orders then profitable operation can sustain up to 2015 with profit margin drop from previous high of 20%. However because Yangzijiang do not want to take order with lower profit margin and minimum down payment of 20%, make it harder for Yangzijiang to get orders unless the other Big Ship Yards in China like Cosco and China Ship Building and Rongsheng had taken enough to raise price or raise down payment from current 10% ot 15% (for non SOE) Presently Yangzijiang order come from loyal client like Peter Dohl which Yangzijiang had helped them during pass recession.

With duo listing, I will expect sudden large trade upwards in RMB Yzj and sudden large selling in SGD Yzj. Well this may not happen because China will be watching them too to ensure Capital Control outflow.

Topspin70 ( Date: 26-Jul-2013 13:07) Posted:

Thanks for explaining. Didn't realize the implications. So safe to say any further upside potential is curbed by this development then?

Hawkeye ( Date: 26-Jul-2013 09:40) Posted:

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Topspin70
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26-Jul-2013 13:07

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Thanks for explaining. Didn't realize the implications. So safe to say any further upside potential is curbed by this development then?

Hawkeye ( Date: 26-Jul-2013 09:40) Posted:

Topspin70 ( Date: 26-Jul-2013 09:19) Posted:

How so? The new RMB trading spells bad news for investors

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Hawkeye
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26-Jul-2013 09:40

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Topspin70 ( Date: 26-Jul-2013 09:19) Posted:

How so? The new RMB trading spells bad news for investors?

sharefbb05 ( Date: 25-Jul-2013 17:47) Posted:

Today is really a bad day for us..

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Topspin70
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26-Jul-2013 09:19

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How so? The new RMB trading spells bad news for investors?

sharefbb05 ( Date: 25-Jul-2013 17:47) Posted:

Today is really a bad day for us..

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pasttime
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26-Jul-2013 08:17

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offshore rmb centre status

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Peter_Pan
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26-Jul-2013 07:33

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Has had a really good run-up from recent lows!

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cheongsl
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26-Jul-2013 07:32

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yup Singapore counter drop by 2.6% but TWSE drop by only 0.5% for yangzijiang

sharefbb05 ( Date: 25-Jul-2013 17:47) Posted:

Today is really a bad day for us..

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Hawkeye
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25-Jul-2013 23:29

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Scorpio inks 14 BCs in China

MONACO, July 24, 2013 -- Scorpio Bulkers Inc. (OSLO-OTC: SALT) (or the " Company" ) announced today that it has reached agreements with three yards in China to construct a minimum of 11 and up to 14 newbuilding vessels designed for the carriage of dry bulk commodities.

The Company has reached agreements with ChengXi Shipyard CO. Ltd. (" ChengXi" ), Dalian COSCO KHI Ship Engineering Co. Ltd. (" DACKS" ), and Nantong COSCO KHI Ship Engineering Co. Ltd. (" NACKS" ) for the construction of a minimum of 11 and up to 14 dry bulk vessels for approximately $27 million each.

The vessels are from 61,000 to 64,000 DWT (" Ultramax" vessels) designed for the carriage of dry bulk commodities. Of the first 11 vessels, 2 will be delivered in the first quarter of 2015, 1 in the second quarter of 2015, 5 in the third quarter of 2015, 2 in the fourth quarter of 2015, and 1 in the first quarter of 2016.

The additional vessels, if confirmed, would be delivered 2 in the second quarter of 2016 and 1 in the third quarter of 2016.

Published : July 25, 2013

samson ( Date: 25-Jul-2013 22:30) Posted:

yes .

due to Local Fund manager no interest in china ship , then china fund can come in by using RMB no lose in currency lose in convert by bank , ( This what I things)

Sg fund only help sg company only , they are all control by gov

why they don't use us dollar or other currency for dual trading . ??

example yangzijiang in sg $ 1.00 in Bs6 , then Bs6B will be converts to RMB price will be $RMB 5.00

below is the HPH dual currency in sgx sg$ and US $

us$ 0.76 x 1.2632 to convert to Sg$ = 0.96

	▼	HPH Trust S$D		P7VU		0.960	-0.005	-0.518	709	352	0.955	0.960	31	0.965	0.965	0.955	680,645	TSC
		HPH Trust US$		NS8U		0.760	-	-	12,067	152	0.760	0.765	2,131	0.755

I don't ask you to buy HPH ports they are lose money just for example

good luck

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