SembCorp Marine: +0.5% in morning trade. Secures the following upgrading and repair contracts worth $110m - i) $32m Ro-Pax Ferry upgrading project for a Kiwi company due to start Mar ‘11, ii) upgrading of a cruise ship for Carnival Australia due to start Nov ’10, iii) repair contracts for 8 LNG carriers…
Still, orders are small for company, and unlikely to quell concerns about SMM’s depleting order book, which stood at $4.3bn at June vs $5bn in March. All eyes still on outcome of bid for Brazilian oil giant Petrobras' 28-rig tender, result of which now expected only in Nov instead of Aug initially thought.
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