Cosco (F83.SG) off 0.7% at $1.53, pausing for breather after five-session winning streak. Selling contained as volume light, stock still +3.4% since beginning July, supported by China-based shipbuilder’s growing orderbook, with most recent contract unveiled earlier this week worth US$130 million ($179 million) to build vessel for installing offshore wind turbines, according to Dow Jones.

Ten-day moving average, last at $1.49, expected as support.

“The company has been reporting more rapid ship deliveries and will have worked its way through some high-priced inventoried components at some point in 2H10,” says Morgan Stanley, but still rates at Underweight with $1.25 target, “Cosco’s medium-term earnings growth story depends on shipbuilding margins rising. Evidence of this has been scant.”