Published:
Offshore & marine sector net earnings to rise 23% in 1Q 2011
Cosco will lead the pack, generating growth of 88% on higher offshore and shipbuilding sales, said DBS Vickers.
According to their report, 1Q 2011 ended with a big bang for te offshore yards. Total orders secured in three months in 2011 amounted to $6.2 billion, or almost 2010's order wins of $6.3 billion.
The slew of contract wins was led by Keppel Corp with $4.7 billion.
Earnings upside potential will come from higher order wins, better than expected margins achieved, and faster than expected recognition of projects secured in 4Q 2010.
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