Street Calls of the Week
HONG KONG - Luda Technology Group Limited (NYSE:LUD), whose stock has surged 33% in the past week and is trading near its 52-week high of $13.20, has signed strategic cooperation agreements with several Chinese shipbuilding companies to develop specialty-material components for ammonia-fueled vessels, according to a press release statement issued Tuesday. According to InvestingPro data, the company’s strong momentum is reflected in multiple technical indicators.
The company’s subsidiary, Luda (Taian) Industrial Company Limited, which contributes to the parent company’s annual revenue of $44.86 million, will collaborate with China State Shipbuilding Corporation, Haiting (Nantong) Shipbuilding Company, and COSCO Shipping Heavy Industry Company on research and manufacturing of flanges and pipe fittings designed to withstand the corrosive properties of ammonia fuel.
Under the agreements, Luda Taian will supply certified products for various vessel types including LNG carriers, container ships, chemical tankers, and cruise ships. The companies will establish joint technical R&D teams focused on new materials, process development, and supply chain management.
The partnership addresses growing demand for components suitable for alternative fuel vessels as the shipping industry responds to environmental regulations from the International Maritime Organization.
Luda Taian has been testing ammonia-resistant materials including high-nickel alloys and special stainless steels to meet the technical challenges posed by ammonia’s corrosiveness and hydrogen embrittlement risks.
"Green-powered vessels pose revolutionary requirements for critical components," said Sun Yanru, R&D Director of Luda Taian, in the press release.
Luda Technology, headquartered in Hong Kong with production facilities in Shandong Province, manufactures and trades stainless steel and carbon steel flanges and pipe fittings. The company, currently valued at $92.93 million in market capitalization, serves customers across multiple continents in industries including chemical, petrochemical, maritime, and manufacturing. InvestingPro subscribers can access 10+ additional insights about Luda’s financial health and market position.
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