0450 GMT - Seatrium's order book pipeline remains healthy, Citi Research analyst Luis Hilado writes in a report. He notes that the Singapore-based shipbuilding and repair company disclosed a new contract for BP's Kaskida floating production unit project in the U.S. Gulf of Mexico but didn't share the deal's value. The scope of work could be larger than its current FPU project with Shell, with contracts typically lasting three to four years, Hilado says. Seatrium's continued order wins in major locations provides revenue visibility for the long term, he adds. Citi retains a buy rating with a target price of S$2.10. Shares closed at S$1.96. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
December 23, 2024 23:51 ET (04:51 GMT)
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