Singapore-listed Chinese shipbuilders outperforming rest of market on hopes for increased orders following China’s plan for U$5 billion ($6.6 billion) fund to help Greek shipping companies buy Chinese vessels, says Dow Jones.

Cosco (F83.SG) +3.3% at $1.87, JES International (EG0.SG) +7.1% at $0.375, Yangzijiang (BS6.SG) +1.7% at $1.81 vs STI +0.8%.

Fund announced over weekend by Chinese Premier Wen Jiabao.

While details scant, move deemed beneficial for these companies as contracts from Greece, Europe account for significant part of their orderbooks.

“This can extend the earnings visibility of these companies by several years if the orders materialise. It’s another booster for the shipbuilding industry, where orders have already started to pick up,” dealer says.