KUALA LUMPUR (June 11): Shares in Icon Offshore Bhd rose as much as 11% in active trade this morning after it secured a RM39 million contract to provide anchor handling tugs supply (AHTS) to Sarawak Shell Bhd/ Sabah Shell Petroleum Co Ltd (Shell).

At 9.10am, Icon was up 5.88% or 0.5 sen to 9 sen with 2.56 million shares traded. The stock had earlier risen to a high of 9.5 sen.

The contract was secured on May 3, but it was only allowed to announce it yesterday.

The contract is to last more than two years or 825 days — with two one year extensions in place. The commencement date for the contract and vessel hire date was April 6.