Keppel Corp: Secures two contracts from Indonesian customers worth a total of ~ $47m. The first contract is for a Coal Transshipment Barge for repeat customer PT Indo Straits Tbk. The vessel is scheduled for delivery in the 4Q12. The second is for the construction of three tugboats for a new customer, an int’l shipping co. The 3 tugboats, 2 of which are 45 tons and the last 50 tons are expected to be delivered in 3Q12 and 4Q12.
While positive, order size is small hence impact should be minimal.
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