JES International (EG0.SG) +1.4% at $0.36 in active trade, underpinned by robust 3Q10 results released during midday break.

China-based shipbuilder's net profit at RMB22.5 million vs RMB1.6 million year earlier as revenue more than doubles to RMB641.0 million, aided by commencement of operation at new yard. 

 

As at end-September, orderbook worth US$900 million ($1.16 billion), with vessels due to be delivered over next 2 years. Like bigger peers Cosco (F83.SG), Yangzijiang, order momentum for JES has been picking up with company unveiling slew of contracts since May. 

 

Most recent batch announced in October, with JES to build 8 bulk carriers for customers in Panana, South Korea, China. Immediate resistance at 52-week high of $0.38 set last month.