DBS: Cosco likely to bag USD 3bln worth of contracts in 2011

The shipping company could earn USD 1.05bln from LOIs for drilling units with Sevan.

Cosco recently inked LOIs for two drilling units worth USD 525mil each with the marine engineering company with options for up to two additional rigs.

In a statement, DBS Bank said the finalisation of Sevan’s LOIs could potentially raise Cosco’s net order book from USD 6.1bln to USD 6.5bln by April.

The windfall from the anticipated contract would make up 51% of the USD 5.2bln order win assumption the bank forecasted for the company for FY11.

Citing various sources, DBS added Cosco is also estimated to be in the run for contracts worth USD 3bln.

“Cosco stands a good chance of blowing our assumption this year,” the bank said.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

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