STX OSV

STX OSV: Secured a contract with repeat customer Island Offshore for the construction of one advanced offshore support vessel. The contract amounts to approximately NOK400m, and delivery is scheduled in 3Q14. Latest order wins bring ytd order wins to ~Nok2.5-2.6b. In its recent interview with The Edge magazine, grp’s CEO note that the co continues to enjoy a superior position over its rivals in the sector and the grp has guidance that it could win up to Nok12b worth of orders this yr, above analysts’ expectations of Nok11b. Cite strong demand for OSCVs which services deepwater engineering and construction works , which could typically cost more then Nok1b to build, while demand for newbuild OSV’s are expected to pick up, citing that Petrobas has been announcing subsea tenders and awarding charters, that should lift demand for PSVs and AHTS in future.