STX OSV: 3 new contracts awarded

STX OSV has just been awarded 3 new contracts:
1) Design and construction of one Offshore Subsea Construction Vessel (“OSCV”) for DOF Subsea.

2) Design and construction of one Offshore Subsea Construction Vessel (“OSCV”) for DOF Subsea.

3) Design and construction of one Offshore Subsea Construction Vessel (“OSCV”) for Solstad Offshore.

See annoucements here:
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_5E3DC01171077A6348257B12005557D4/$file/STX_OSV_secures_contract_for_OSCV_for_DOF_Subsea.pdf?openelement

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_F4110E71B30A568D48257B12005170BF/$file/STX_OSV_secures_contract_for_OSCV_for_Farstad.pdf?openelement

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_E1E295E4CAE9CA4548257B120002879A/$file/STX_OSV_secures_contract_for_OSCV_for_Solstad.pdf?openelement

I initiated a buy today at 1.26.

The price is currently suppressed partly to the unfavorable unconditional offer of 1.22 by Fincantieri. This value should be the short term support level. On a longer term view, I would expect it to return to range of 1.4 within the next 12 months.