Jaya

Jaya: Announced long-term charters for three of its four Platform Supply Vessels (PSV) worth US$60m in aggregate. The three PSVs are currently still in construction, with the first to be delivered at end Jul 2013, and be immediately chartered for up to three years in South East Asia. The other two vessels will be delivered in 1H14, and be chartered for three years to a new client operating in Latin America. Jaya has an additional two large anchor handlers delivering from its Singapore yard in the next 12 months, and three specialised subsea and accommodation workboats delivering from its Batam yard. At last close, Jaya trades at 6.8x trailing P/E and 0.7x P/B.