Singapore Stock Market News
VARD - Bourbon Places Newbuild Order
StockFanatic
Publish date: Mon, 10 Feb 2014, 10:11 AM
StockFanatic
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VARD announced last Friday that it has won an order for an Arctic anchor handling tug and supply (AHTS) vessel from Bourbon (GBB FP, NR) - the second newbuild order announced so far this year. The vessel, based on VARD's own design, is expected to be ready by 2Q16.
We estimate the company has won NOK1.75bn worth of new orders YTD. This makes up 15% of our FY14 estimate. Maintain NEUTRAL, with a SGD0.85 TP.
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