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COSCO SHP SG
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handon trading
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watchlist
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12-Jul-2009 23:42
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Again the delay in delivery would cause a damper. The price has reflect this growing cancellation and orders still not coming in and the only way is down. Looking at short term $1. | ||
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guppy724
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09-Jul-2009 11:54
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Thanks Starlene , for the report. 
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starlene
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07-Jul-2009 10:35
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Tue Jul 07, 2009 9:12 am Post subject: COSCO's drilling rig wins praise -------------------------------------------------------------------------------- A fast-growing shipyard in China has built the world's first "round" deepwater drilling rig, which can pump out oil even from freezing seawaters. The $600-million rig was delivered last week to Norwegian oilfield services group Sevan Marine, which has contracted the rig to Petrobras, Brazil's state-owned oil company. A shipyard company of China Ocean Shipping (Group) Co, or COSCO, built the hi-tech rig at its Nantong factory in Jiangsu province. COSCO Shipyard called the project's success "a milestone for the company" because of the cutting-edge technologies used to build the unit. COSCO Shipyard just started building offshore rigs in 2007, and industry insiders said the shipyard's early success would pave the way for more foreign and domestic orders. According to technical reports, the new rig, named the Sevan Driller, can sink wells 12,500 meters deep and can store 150,000 barrels of crude oil. With a diameter of 84 meters, the rig can accommodate 150 workers and technicians and work even when temperatures dip 20 degrees Celsius below zero. "Such indicators have shown our competitiveness. The rig is round and can stand steady, even when strong sea waves and storms hit," said Wang Xingru, general manager of COSCO Shipyard, during an exclusive interview with China Business Weekly. "As far as I know, this rig performs better than any others in the world regarding the depth of drilling," Wang added. Although COSCO Shipyard currently produces most of its rigs for balmier Brazil, the fact that the newest rig can weather freezing waters could create new customers among oil-rich countries in colder, high-latitude regions. China earlier this year agreed to lend $10 billion to Brazil's state-owned Petrobras in exchange for guaranteed oil supplies for the next decade. Petrobras and Sinopec, China's largest refiner, agreed that the former would supply 150,000 barrels of crude oil a day to China this year and 200,000 barrels per day for nine years beginning in 2010. The two oil companies also signed a formal memorandum of understanding on oil exploration that will allow China to explore for oil in two regions of Brazil. Meanwhile, Petrobras has discovered massive oil reserves deep beneath the ocean floor off Brazil's southern coast. "All these bilateral agreements have brought opportunities for our company because oil-rich Brazil depends on deep-sea oil exploration," Wang said. He added that more orders are expected to soon arrive from the South American country. Singapore and South Korea are leading countries building offshore rigs, but China, a relative newcomer, already is winning accolades. Norway's Det Norske Veritas, or DNV, one of the world's leading risk  "The company completed the demanding task within two years, and it proves that the shipyard can compete with global competitors," said Joerg Beiler, DNV's area chair and regional maritime manager for Greater China. Wang said a domestic oil company already has shown interest in buying a COSCO Shipyard offshore rig. Fu Chengyu, president of CNOOC, attended the delivery ceremony for the COSCO Shipyard-made round rig at the end of June at the Nantong shipyard's factory in Jiangsu province. CNOOC, China's third-largest oil producer, specializes in offshore oil exploration. "We organized fruitful negotiations with CNOOC, and they have shown great interest," Wang said. Earlier media reports said that CNOOC would invest 200 billion yuan ($29.26 billion) in oil and gas exploration in the South China Sea during the next 10 to 20 years. The goal is to build up a production capacity with an annual output of 50 million tons, equivalent to that of China's biggest oil field, the Daqing Oil Field. "That means a huge market opportunity for us," COSCO Shipyard's Wang said. Currently, only two or three shipyards in China have invested in rig building. Before moving to rig and shipbuilding, COSCO Shipyard was the country's leader in ship conversion and maintenance. Wang said he was relieved the company diversified into shipbuilding and rigs before the financial crisis hit the world's markets this year. "We have enough orders on hand, and we should work at full sail at least until 2012," Wang said. With many companies also shedding workers in this economic recession, Wang's shipyard is the exception, he said. "We hired more than 1,000 graduates this year," Wang said. "We need more qualified hands to deliver those orders." More orders to come? 
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CWQuah
Master |
02-Jul-2009 10:46
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If it can clear 1.29 positively... tgt 1.35. | ||
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guppy724
Member |
02-Jul-2009 09:35
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Yes.it's ticking now....can cross the 1.30c zone???
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CWQuah
Master |
01-Jul-2009 18:04
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This stock will be interesting. | ||
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guppy724
Member |
30-Jun-2009 16:23
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Read in "EDGE" paper,dated June 15, that Cosco is schedule to deliver its Sevan 650 round rig at end June 09.Any news of that? | ||
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hotstock
Veteran |
29-Jun-2009 13:58
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Not logically. When Cosco shipyards are quite, why start with new operations. Every day is a running costs..... Do not mislead | ||
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aleoleo
Master |
28-Jun-2009 21:41
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cosco new shipyard should be in operation soon, get new contract announcement also ...dunno when they will release news ... should be very the soon ...
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dealer0168
Elite |
28-Jun-2009 21:26
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But BDI index is falling recently, collect it later will be better. 
(My opinion) |
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handon
Master |
28-Jun-2009 20:59
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my boss called to collect this for a good reason... dun tell u..... dun tell u.... hehe..... |
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erictkw
Veteran |
19-Jun-2009 16:18
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DJ MARKET TALK: S-Share Fundamentals See Some Improvement - DBS 0324 GMT [Dow Jones] Singapore-listed China companies, or S-shares, are seeing some improvement in their fundamentals, says DBS Vickers. Broker scores S-shares for industry and earnings outlook, balance sheet and cash flow position, other issues such as corporate governance; says improvement in companies scores due to improved outlook for respective industries. Says China economy on track for stronger 2H09 driven by fiscal stimulus, steady domestic consumption; thinks country well on track to achieve 7.5% GDP growth this year. Says top picks against this backdrop are train supplier Midas (5EN.SG), water treatment firm Epure (E6E.SG), both of which should benefit from China government's infrastructure spending. Also likes property developer Yanlord (Z25.SG), China Fishery (B0Z.SG) as plays on continued domestic consumption. But remains cautious on shipyards, export-related companies such as Cosco (F83.SG), Yangzijiang (BS6.SG), China Sky Chemical Fibre (E90.SG). FTSE ST China index last +1.2% vs FTSE ST All Share index +1.1%. (KIG) |
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watchlist
Member |
19-Jun-2009 15:44
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This one played by many players. It can sway both side especially when the players united as SELLER or BUYER. Otherwise it moves up and down. As i said before if I will enter at 70c since the near term prospect is very cloudy... Maybe mid next year would be better. for the time being, keep it KIV and review nov 09. |
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novicetrader
Senior |
19-Jun-2009 07:11
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Each time market drops this counter will drop but each time maket rebounds this counter will rise. I sold mine at 1.41, then it fell to 1.31. and then it went up to 1.42. This is my observation so far. Honestly, if compared to Yangzijiang, yangzijiang would be a better counter at 1/2 its price but I do not know what is the play behind Cosco. | ||
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Henry$$$
Senior |
19-Jun-2009 06:43
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Handon, It seems to encourage people buying this counter? Is a boss mojor share holder? Why your boss keep buying it? It should drop more based on FA and TA! It is rather expensive too. |
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handon
Master |
18-Jun-2009 23:08
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my boss collected this one for a good reason... dun get jitter by fluctuation... this is hot cake.... my boss said one hor.... |
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erictkw
Veteran |
18-Jun-2009 22:31
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Thanks Watchlist for sharing your thoughts. Hope to hear more views from others too. |
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watchlist
Member |
18-Jun-2009 12:39
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Ship building orders in China are slow and more cancellation or postponement has been expected although china govt tries many measures to reduce the high cost of this industry. I have avoided this stock as it has persistently held at high price for a long time. My entry price is still 70 cents since months ago but I am shorting this burger when volume is strong. |
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erictkw
Veteran |
18-Jun-2009 12:33
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With analyst target at 0.65, is this stock currently too high. Will like to be vested but am not sure whether it is a good time to go in. | ||
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handon
Master |
16-Jun-2009 21:27
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dun play play with hot cake... hehe... my boss said one hor... |
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