Hot stock: Yangzijiang sees heavy trading following foray into large LNG vessels via GTT agreement

SHARES of Yangzijiang Shipbuilding (YZJ Shipbuilding) gained as much as 3.9 per cent during early trade on Friday (Sep 9) after the shipbuilder announced on Thursday a new licence agreement that would allow it to start constructing large liquified natural gas (LNG) vessels.

The index stock was the top-traded counter by volume at Friday’s opening bell, with more than 22.2 million shares changing hands. The counter reached an intraday high of S$0.945 before easing slightly to S$0.93 as at 9.53 am. It last traded near such levels in August. No married deals were recorded, according to ShareInvestor data.

YZJ Shipbuilding said in a bourse filing that it has obtained a GTT licence for the construction of vessels using GTT Mark III membrane technologies. GTT membranes have been widely chosen as the cargo containment and insulation system for the large LNG carriers, onshore and offshore applications.