Singapore-listed shares of offshore vessel builder STX OSV (STXO.SI) rose as much as 4.2% on Tuesday after it announced strong fourth quarter earnings and a new order for the design and construction of a platform supply vessel.
At 9:50 a.m., STX OSV shares were up 2.5% at $1.22 on a volume of 5.7 million shares.
 
STX OSV said its net profit for the quarter ended Dec 31, 2010, rose 121% year-on-year to NOK294 million ($64.6 million). Total order intake for the fourth quarter was NOK2.8 billion.
The firm said that with the latest order it secured, it now has 19 contracts for delivery in 2012. The value of the contract and the name of the customer were however not disclosed. 
“The results were well above expectations, and we believe the market will react positively,” said Goldman Sachs in a report, adding that its new order forecast for 2011 is NOK12.9 billion.
The firm said that with the latest order it secured, it now has 19 contracts for delivery in 2012. The value of the contract and the name of the customer were however not disclosed. 
“The results were well above expectations, and we believe the market will react positively,” said Goldman Sachs in a report, adding that its new order forecast for 2011 is NOK12.9 billion.