STX OSV shares marched up Friday after the Singapore-listed shipbuilder snatched two major contracts in the past 24 hours.

Deals from a joint-venture between Solstad and HitecVision and Norwegian owner Troms Offshore a saw more than 5% added to the yard’s market value today.

STX OSV priced the construction vessel, in which Solstad will have a 30% stake, at NOK 1.4bn ($223.88m).

Lee Yue Jer, an analyst at AMFraser estimates the Troms vessel will add a further NOK 450m to STX OSV’s totaliser.

“These bring STX OSV’s order wins to NOK 3.9bn, well ahead of Q1’s NOK 2.3b,” the analyst said.

“Though the Eurozone situation is still uncertain, we believe that vessel orders cannot be delayed for too long given the booming offshore market.

“The drilling rigs have already been ordered in 2010 and 2011—witness Keppel and SembMarine’s rejuvenated order books—and now is about the time to order the necessary supporting vessels.”
 

Shares in STX OSV last changed hands at SGD 1.50 ($1.18) each in the Lion City, a rise of 5.6% today.