************* Pacific Radiance: LIVE call triggered and sent to CLIENTS LIVE YESTERDAY when it was 1.08. Currently at 1.11...

Email to enquiry@firstratebrokers.com to Open a "FREE" TRADING account now to Enjoy LIVE EMAILS AND SMS NOW like our clients.

 

Sent: Tuesday, April 01, 2014 1:34 PM
Subject: ************** Pacific Radiance: Uptrend intact, further breakout above 1.10 possible ! 1.08 NOW, LET'S SEE !

Pacific Radiance has manage to stay above the 1.00 resistance level which it broke above 2 weeks ago. It has since consolidated briefly from 1.05 to 1.10… Uptrend still intact as long as 1.00 support holds. Likely to trade within this range till a further breakout above 1.10 seen. Can consider locking in some long positions in view of this breakout and averaging up on the break. Huge sellers stack at 1.10 currently but after that, its free to go, with target to 1.20 in the near term. Might need to hold for more than a week in wait of breakout so not for contra, put in watchlist !

Stop loss at 1.08 for breakout plays.

 

News -  1^st APRIL 2014

*Pacific Radiance: Bagged a contract worth up to US$100m for its latest maintenance work vessel (MWV) - the first of 14 newbuilds scheduled for delivery in FY14. The vessel will be chartered to an international oil major for up to seven years, including extensions, and should contribute earnings from 2QFY14.

 

DBS – 1^ST APRIL 2014 –

Pacific Radiance - Wins US$100m long-term charter

contract; maintain BUY, target price S$1.20

Pacific Radiance has secured a charter contract worth up to

US$100m for its latest Maintenance Work Vessel (MWV),

which is the first of the 14 new vessels scheduled to enter its

fleet in FY14. The contract with an international oil major is for

a term of up to 7 years, including extensions, and will be

deployed to provide maintenance services for a project in SE

Asia starting from 2Q14. The implied daily charter rate for the

contract works out to be about US$39,000 per day, which is

higher than our existing assumption of US$30,000 per day, and

signals the strength of the offshore accommodation and

inspection, repair, maintenance market in Asia. Our utilisation

assumptions for the accommodation work boat/ maintenance

work vessel segment is also conservative at 60% in FY14/15,

and thus, this contract demonstrates that Pacific Radiance can

still execute better than our forecasts. Maintain BUY with

target price of S$1.20.

 

DMG – 1^ST APRIL 2014

Scoop of the Day: Pacific Radiance (PACRA SP, BUY, TP: SGD1.30)

announced a charter contract for its latest maintenance work vessel (MWV) worth

up to USD100m. The MWV will be chartered to an international oil major for up to

seven years and will be deployed from 2Q2014 onwards, starting with a project in

South East Asia. The vessel is the first newbuild to be added to Pacific

Radiance’s fleet in FY14 and there are 13 more vessels to be added this year.

The contract win was within expectations and we keep our EPF estimates

unchanged. Maintain BUY with a TP of SGD1.30 based on 12x FY14F P/E.