Yangzijiang Shipbuilding shares soared 14.1% as the US watered down its initial proposal of slapping fees on China-built ships.

The US eased port fees on China-built ships after getting pushback from the industry, it was reported on Apr 18. Yangzijiang had initially tumbled in February after the United States Trade Representative’s office proposed imposing a fee on Chinese-built vessels entering US ports.

Its shares have been on an upward trend since Apr 9, after Reuters reported that the US was considering softening its stance on the fees. Yangzijiang also did a recent spate of share buybacks.

On Apr 15, Yangzijiang Shipbuilding said its proposed final dividend of S$0.12 per ordinary share for the financial year ended Dec 31, 2024, will be subject to shareholders’ approval at its annual general meeting on Apr 29, and paid out on May 13.

On Apr 17, it announced that the record date had been revised from May 5 to May 6 in light of the upcoming public holiday in China from May 1 to May 5 which will affect the settlement of shares denominated in Chinese yuan for the company’s other counter – YZJ Shipbuilding.

The revised record date ensures fair and accurate determination of entitlements across all currency counters, YZJ said.

In a recent report, Pei Hwa Ho from DBS reiterated a Buy rating on Yangzijiang Shipbuilding, with a price target of S$3.80.