Pursuant to my write-up on Swiber on 24 Dec 2010 where I mentioned that Swiber is likely to announce some contracts during the seasonal award season from Dec to Mar, Swiber finally started to announce some contracts since 10 Mar 2011.
Table 1: Contract announcements since 10 Mar 2011
S/No | Contract Announcement Date | Contract size (US$m) | Remarks |
1 | 22 Mar 11 | US$27m | |
2 | 11 Mar 11 | US$125m | This was the bid whereby Swiber has contention with |
3 | 10 Mar 11 | US$34m |
Source: Ernest’s compilations
Due to the market weakness and lack of contract wins between 20 May 2010 to 10 Mar 2011, Swiber’s share price weakened from $0.995 on 24 Dec 2010 to $0.805 on 23 Mar 2011. Nevertheless, according to Chart 1, it is likely that Swiber is in the midst ...
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