(Aug 7): A recovery in demand for new bulk carriers has helped Singapore’s worst-performing stock in 2016 become its best this year.

See: Yangzijiang Shipbuilding reports 73% rise in 2Q earnings to $146 mil

Yangzijiang Shipbuilding Holdings, which specialises in dry-bulk carriers, has rallied 79% in 2017 to lead the benchmark Straits Times Index. The Chinese shipbuilding firm has made a comeback after it won 13 contracts worth US$318 million ($432.4 million) in the first quarter, about 40% of its US$823 million worth of orders it won last year.

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