SembMarine

SembMarine: +0.8% at $3.93, likely on small order wins announced over lunch. Secured 2x FPSO contracts worth $75m, namely i) award by BW Offshore, one of the world’s leading FPSO contractors involving major conversion work like repairs and life extension of a 97k dwt tanker into a Floating Production Unit. Expected re-delivery in 4Q11, ii) upgrading of an FPSO from Dutch Bluewater Energy Services, expected to be re-delivered by 2Q11.