SINGAPORE (May 12): Shipbuilder Vard was up as much as 13.6% to 17.6 cents at 11.57am after announcing a contract win.

The company says in a statement it has won a contract worth US$300 million from Topaz Energy and Marine to build 15 module carrier vessels.

The stock recovers sharply from Wednesday's close, which was its lowest level since late February.

Read more about contract win at here; Vard results at here