Hold your horses: Why Vard’s new contracts aren’t as exciting as they seem

Big near-term earnings aren’t in the horizon.

Vard Holdings has closed four contracts just in the past week. These include two vessels for the Nordic American Offshore and an offshore construction and anchor handling vessel for Rem Offshore, among others.

These contracts are worth a total of $1.1b, or 8.4b Norwegian Krones.

While this may be exciting news, research firm OSK DMG has cautioned against too much optimism.

“While the order pace is strong, we caution investors that ordering tends to be lumpy and that near-term earnings are not expected to outperform. With the higher visibility of earnings, we raise our TP to SGD1.10 (from SGD1.00) but maintain our neutral call,” noted a report from OSK DMG.

The report further stated, “We caution that 2Q14 earnings may disappoint the raised expectations implicit in Vard’s higher share price, which has recovered 40% from the trough.”

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia