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PR Newswire
18-11-2013, 02:10 PM
Penguin has recently added the following para in its home page.....
http://www.penguin.com.sg/
"Pocket Rocket. In September 2013, Penguin Shipyard International completed a successful sea trial for its debutante Flex-25, which hit speeds in excess of 30 knots while offering a stable and quiet ride throughout. The first two Flex-25 crewboats will be deployed in West Africa, which is fast becoming a Home Away From Home for the Flex."
So we can reasonably expect the 2 new Flex-25 crewboats destined for West Africa will add to revenue and profits in the 4Q or subsequent quarters.
Penguin has also recently added its first new biggest and higher load-capacity Flex-50 crewboat - named "Pelican Victory" - to its growing charter fleet.....
http://www.penguin.com.sg/vessel-specs/
Like all other crewboats and FSIVs (Fast Supply Intervention Vessels) in its charter fleet, the vessels are available for quick sale to customers who have an urgent need for a vessel or can't wait for a new one to be built which would take up to 9 months.
From the recently released 3Q results.....
http://infopub.sgx.com/FileOpen/Penguin_...eID=263089
we can tell that Penguin had another steady quarter, but without booking any sale of vessel from its charter fleet. From the higher Inventories balance of $17.04m (30Jun13: $14.59m) and Other payables and accruals balance of $39.9m (30Jun13: $19.0) (note: this includes advance payments received from customers for sale of vessels built-for-stock) as at 30Sep13, I think we have quite clear indications for a healthy increase in orders backlog in 3Q which have been placed on production, and this should lead to deliveries and again stronger quarterly revenues in the coming quarters.
http://www.penguin.com.sg/
"Pocket Rocket. In September 2013, Penguin Shipyard International completed a successful sea trial for its debutante Flex-25, which hit speeds in excess of 30 knots while offering a stable and quiet ride throughout. The first two Flex-25 crewboats will be deployed in West Africa, which is fast becoming a Home Away From Home for the Flex."
So we can reasonably expect the 2 new Flex-25 crewboats destined for West Africa will add to revenue and profits in the 4Q or subsequent quarters.
Penguin has also recently added its first new biggest and higher load-capacity Flex-50 crewboat - named "Pelican Victory" - to its growing charter fleet.....
http://www.penguin.com.sg/vessel-specs/
Like all other crewboats and FSIVs (Fast Supply Intervention Vessels) in its charter fleet, the vessels are available for quick sale to customers who have an urgent need for a vessel or can't wait for a new one to be built which would take up to 9 months.
From the recently released 3Q results.....
http://infopub.sgx.com/FileOpen/Penguin_...eID=263089
we can tell that Penguin had another steady quarter, but without booking any sale of vessel from its charter fleet. From the higher Inventories balance of $17.04m (30Jun13: $14.59m) and Other payables and accruals balance of $39.9m (30Jun13: $19.0) (note: this includes advance payments received from customers for sale of vessels built-for-stock) as at 30Sep13, I think we have quite clear indications for a healthy increase in orders backlog in 3Q which have been placed on production, and this should lead to deliveries and again stronger quarterly revenues in the coming quarters.