Sembcorp Marine (S51.SG) is trading 3.27% higher at $4.1 after announcing it landed a $130 million contract from Petrobras to carry out pre-conversion work on VLCC to be deployed in Brazil once completed in 2Q11, reported Dow Jones Newswires.
The contract is SembMarine’s first since it announced plans last month to build shipyard in Brazil, one of world’s fastest-growing offshore oil and gas exploration, production markets.
