JES International (EG0.SG) +4.2% at $0.375 as latest contracts to build 8 bulk carriers supportive, says Dow Jones.

Contract value not disclosed but DBS Vickers, which has Buy call with $0.46 target, estimates China-based shipbuilder’s year-to-date orders at US$602 million, exceeding house’s US$500 million ($658 million) FY10 forecast, “implying upside to our numbers for FY11-12”.

Still, current volume only tiny fraction of yesterday’s robust 119.6 million shares, suggesting momentum easing. Orderbook quotes suggest shares unlikely to test $0.40.

Latest vessels due to be delivered over 2011-2012. Clients include Panama’s Pitiousa Shipping, South Korea’s Sammok Shipping, several Chinese companies.