SHARES in Cosco Shipping International surged 13 per cent on Friday morning, as fellow Chinese shipbuilder Yangzijiang Shipbuilding (Holdings) gained on better-than-expected third-quarter earnings.

Shares of Yangzijiang Shipbuilding (Holdings) jumped early Friday after the Chinese shipbuilder reported a 208 per cent surge in its third-quarter earnings.

CHINESE shipbuilder Yangzijiang Shipbuilding is looking to raise net proceeds of S$208.8 million by placing out 137 million new shares at S$1.53 each to institutional investors and other investors.