Yangzijiang Shipbuilding | Buy (maintained) July 17 close: S$1.50 Target price: S$1.82 DBS Equity Research, July 17

Yangzijiang Shipbuilding has acquired a 55 per cent stake in Odfjell Terminal (Jiangyin) (OTJ) from Norwegian tanker shipping company Odfjell for a consideration of US$46.2 million, funded by internal resources.

Operational since 2007, OTJ owns and operates a tank terminal, which handles various types of petrochemical products and provides complete terminal services for petrochemical distribution in the upstream of the Yangtze River region.