Deutsche Bank AG/Hong Kong,
According to a recent article from Upstream, Norwegian state oil company Statoil is in talks with rig owners about ordering some of the largest jackup drilling rigs ever built. These rigs have been labelled Category‐ J rigs and are planned for work on subsea completions. Statoil has requested expressions of interest from jackup owners and are expecting initial responses back in October 2011. If they decide to proceed, tenders could go out by 2012 with potential delivery by 2015. The group indicated that they want to address the problem of the ageing rig fleet in Norway, which ties in with our view that the rapidly ageing global rig fleet will remain a key factor driving the replacement cycle in this sector.
The article highlighted that leading candidates for this program could include Maersk Drilling, Seadrill, and Rowan. Other drillers that may also be interested include Odfjell, Awilco, Noble Drilling, and Ensco. Upstream indicated that Maersk has recently been screening the market for a possible order of the new GustoMSC‐ design jackup, the CJ80. Their most recent orders have been for CJ70 rigs, two of which were placed with Keppel in early 2011 at about US$600m each (approximately US$500m per rig for the yard work) and are the largest jackups built to date. The dollar value for each CJ80 rig should be more than US$600m as these CJ80 rigs have variable deck loads that are higher than the 8000 tonne load of the CJ70 units.
We believe KEP and/or SMM are well positioned for the Category‐ J rigs, with both being clear market leaders for high specification jackups. Of the three leading candidates for the new rigs, Maersk over the past 12 months has ordered 2 jackups with KEP, while Seadrill has ordered 3 jackups withSMM and 1 semisubmersible drilling tender with KEP. In 2007, Rowan ordered 4 jackups with KEP.
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Sembmarine
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adobepie
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16-Oct-2011 11:32
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if no one sells, how to push this counter back to 3.20+??...brothers don't be too greedy, this counter is like NOL...very interesting to long or short |
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krisluke
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15-Oct-2011 22:15
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Temasek selling smm for " profit" ? ?? |
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krisluke
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13-Oct-2011 22:46
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I think the new yard will boost the revenue of the coming years ahead. Smm is playing catch up with Sci, But the analysis report do make some confusion... ... Smm exposure to europe is higher than Sci ? ??? Guess I need some time for " soul searching" on this infos :)) congrats to those bot at $3.1x :) :) |
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krisluke
Supreme |
13-Oct-2011 22:30
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Crude Oil Daily Technical OutlookNymex Crude Oil (CL)Intraday bias in crude oil remains neutral for the moment. Below 81.36 minor support will indicate that rebound from 74.95 is finished and will flip bias back to the downside for retesting this support. On the upside, above 86.64 will bring another rise. But after all, we'd still expect upside to be limited well below 90.52 key resistance and bring resumption of whole fall from 114.83 eventually. In the bigger picture, medium term rebound from 33.2 is treated as the second leg of consolidation pattern from 147.24 and should have finished at 114.83 already. Current decline should target next key cluster support at 64.23 (61.8% retracement of 33.2 to 114.83 at 64.38) next. Sustained break will pave the way to retest 33.2 low. On the upside, break of 90.52 resistance is needed to invalidate this view or we'll stay bearish in crude oil now. Nymex Crude Oil Continuous Contract 4 Hours Chart
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krisluke
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13-Oct-2011 22:29
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Comex Gold (GC)No change in gold's outlook. We'd maintain that break of 1705.4 double top neckline is needed to indicate near term trend reversal. Otherwise, fall from 1923.7 is still expected to continue. On the downside, below 1585 minor support will flip bias to the downside for 1535 and break there will target 1500 psychological level next. Though, break of 1705.4 will argue that fall from 1923.7 might be over and will bring stronger rise towards this high. In the bigger picture, current development indicates that gold has made a medium term top at 1923.7, ahead of long term projection level of 161.8% projection of 253 to 1033.9 from 681 at 1945.6 and 2000 psychological level. While the fall from 1923.7 is steep and deep, gold is still holding inside long term rising channel from 681 and above 55 weeks EMA at 1513.3. Hence, we're not too bearish in gold yet. Strong support is anticipated at 1478.3/1577.4 support zone to contained downside, at least initially, and bring rebound. However, note that sustained break of 1478.3 will strongly suggest that the long term up trend has already reversed. Comex Gold Continuous Contract 4 Hours Chart
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warrenbegger
Elite |
13-Oct-2011 19:57
Yells: "Anyhow Buy Anyhow Die ^_^" |
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This is my best counter of the year!!! Load at 3.15 when everyone don't want. Sold all today at 3.85 when everyone hungry for it, LOL! Too bad i buy 10 lots only, i should had whack more when i confidence of what i doing, nvm la. Wish U all continue to earn, i had to leave first when i know it enough for me during this cycle. Cheers :) Sorry to some that PM me, i can't always disclose my holding for some counter. Cause i don't know who U r... |
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risktaker
Supreme |
13-Oct-2011 09:35
Yells: "Sometimes you think you know, but in fact you dont" |
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Haha huat ah sembmar so strong :) | ||||||||||||||||||||||||||||||||||||||||
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Salute
Master |
12-Oct-2011 19:13
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ya, the " cyndicate" (intend by funds or whatever grp of people) tried to short to the most till people gave up and then reverse it up. By the way, what is the 19/10 and 29/10 things? today Europe's early drop, was it something to do with the Slovakia's " no vote" so votatile that things always changed at last minute or moment.
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PinkPunter
Senior |
12-Oct-2011 17:11
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Impressive....up 11cts in just 1 hour 
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Andrew
Master |
12-Oct-2011 00:20
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This stock is very volatile in recent time. I bought mine at 3.3 just to see it fall to something like 307 in 2days. Lucky to run up to 366 today....... Anyway, TP 5.70......by MFT. This Oct is going to be very volatile........the usual Oct 19 & 29 thing + Greek + the Slow EU decision making (I called it the 17 Heads Dragon). May just become 16 heads Dragon in Nov......... Only enter if you get a value buy.
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adobepie
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11-Oct-2011 22:39
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thank u all.... beri, beri mud...lup u all | ||||||||||||||||||||||||||||||||||||||||
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krisluke
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11-Oct-2011 21:44
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Update on supports and resistances.
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EdwardLiu
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11-Oct-2011 14:25
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Tuesday, 11 October 2011 |
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risktaker
Supreme |
11-Oct-2011 13:16
Yells: "Sometimes you think you know, but in fact you dont" |
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Donno which idiot try to block sembmar don't worry. We will clear them :) | ||||||||||||||||||||||||||||||||||||||||
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Tropical
Senior |
11-Oct-2011 12:34
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Hi...any sifus here can advise what price to enter for this counter? | ||||||||||||||||||||||||||||||||||||||||
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risktaker
Supreme |
11-Oct-2011 12:22
Yells: "Sometimes you think you know, but in fact you dont" |
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Ai lia Liao. Hoot hor Yi Kee . Huat ah | ||||||||||||||||||||||||||||||||||||||||
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risktaker
Supreme |
11-Oct-2011 11:42
Yells: "Sometimes you think you know, but in fact you dont" |
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This baby so under value. Time to buy more :) | ||||||||||||||||||||||||||||||||||||||||
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Farmer
Master |
11-Oct-2011 10:09
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Had sold my holdings and take profits... can't be greedy. ~20% profits within 1 wk, who dare says short is better than long?
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krisluke
Supreme |
10-Oct-2011 22:23
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oic. thank you very much
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adobepie
Member |
10-Oct-2011 21:56
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wah!!!...tomoro must let go to recover...lucky got people buy...thank you beri much | ||||||||||||||||||||||||||||||||||||||||
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I read the news that keppelcorp just has one options exercise yesterday ... ...
