STX OSV: Could see some positive interests after announcing in an interview that orders may rebound next yr as energy prices rise and credit markets improve. If things normalize banking world, expect demand to be filled, although grp declined to give a forecast for contracts next yr.
Expect to win deals for vessels used to move or supply oil rigs as Petroleo Brasileiro SA, Royal Dutch Shell Plc and other Co’s explore new oilfields after crude jumped about 30% in two yrs. Despite missing orders expectations in 3Q, grp note that the fundamentals in O&G business are strong. Co also expects to firm the long awaited orders for eight LPG gas carriers as early as this week.
Add that earnings in 4Q will be stronger.
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