SMM

SMM: says it secured a "favoured customer contract" by Royal Caribbean Cruises (RCC) to repair, revitalise, upgrade and provide related marine services to its ships. RCC operates 41 ships under 5 lines. The contract includes 2 RCC ships undergoing major revitalisation at SMM's yard and a 3rd ship for drydocking and repairs between Jan'12 to 2013, with total est sales ranging $50-70m, depending on scope of repairs and upgrading packages of the ships. SMM now has secured agreements with both RCC and Carnival Corp, which collectively control >70% of global cruise shipping revenue.