Seatrium    Last:0.091   -

Sembmarine

 profit taking following yesterday's rally while looking towards overseas news including a move by China to curb runaway economic growth.

                                                                            

The People's Bank of China today said the reserve ratio would go up by a further 50 basis points on November 29, in an effort to control its spiraling inflation that had hit a two-year high of 4.4% last week. The move also cemented speculation that the nation will raise its key interest rates soon to check inflation. The price of crude oil edged down amid China's credit tightening move.

Concerns that the People's Bank of China might hike interest rates to cool off its economic growth impacted market sentiment as traders exercised caution and moved to the sidelines.


The Fed's new $600 billion bond buying program - the printing of fresh money to buy up government debt - has sparked condemnation from around the world, with many emerging economies claiming the stimulus will weaken the dollar and flood their economies with speculative hot money. Germany's finance minister Wolfgang Schaeuble blasted the Fed's decision as "clueless."


In other global news, investors continue to watch Ireland amid speculation that the emerald isle is coming closer to accepting a bailout package to deal with its debt problems.

 

 

Friday no good, monday good......................







..............Sound familar

 

With MACD gaining strength, and short term indicator ticking up.

Smars current trend is still intact

Immediate Support : 500

Resistance1: 509

Resistance2: 513





Dj and Eur likely to close positive on past few days losses.







Just my point of view only/-

 

Singapore Offshore & Marine

 Following our report The tide is turning on 19 October 2010, order

momentum for rigs has strengthened. In total, contracts and LoIs

for 12 jackup rigs and two drillships have been placed in 4Q10.

● We believe that the cyclical recovery in the jackup market could

continue going forward as: 1) returns on jackups of 12.3% for

recent contracts remain significantly ahead of long-term average

returns of 10.9%. 2) financing costs have come down to 5-6%,

and 3) utilisation rates remain close to 100% for high spec

jackups.

● We believe at least another seven jackup rigs will be placed over

the next two quarters. These orders are likely to be placed by

Maersk, Transocean and Noble.

● We believe the O&M sector will be re-rated together with a

recovery in jackup newbuild orders and increasingly positive news

flow on the deepwater segment. We reiterate our OUTPERFORM

rating on Keppel Corp (TP S$12.10), Sembcorp Marine (TP

S$5.50) and Sembcorp Industries (TP S$5.80).

Source: Credit Suisse

Make Love More, Don't Make More Enemies 

 

Still tikam range from 570- 585                    ,                Buy call target 625

 

780 when secure petrobras rig orders

enghou      ( Date: 16-Nov-2010 20:19) Posted: Sembcorp Marine: Secures premium jack-up contract again Summary: Sembcorp Marine (SMM) announced that its subsidiary, PPL Shipyard, has signed a US$195m contract to sell a jack-up rig that is already under construction to Transocean Ltd. The rig is based on PPL Shipyard’s proprietary design, the Pacific Class 400. Transocean is a repeat customer of SMM, and owns five drilling rigs built by the group. Demand for premium high-spec jack-up rigs is returning – recall that PPL Shipyard won contracts to build two rigs with the same Pacific Class 400 design with options for three more from Atwood Oceanics last month. Jurong Shipyard also secured orders for two premium jack-ups with options for another four from Seadrill last month. Indeed, a recent study by ODS- Petrodata (Jackup rig market report 2010- 2018) predicts that the premium jack-up market may see a potential shortage of units by 2015. After securing about S$2.5b worth of new orders YTD, SMM has already met its new order target for this year. We maintain our BUY rating with fair value estimate of S$5.70.  Source: OCBC Secs Make Love More, Don't Make More Enemies

 

Market U turn. Singapore GDP moderate gain.



Dj and Eur futs +ve

Hse fut +ve

Sse fut +ve

Oil price +ve



After 4 consecutive days of fall, a gobal market today rebounce



Smars,

Resistance = 508

Support = 494

 

 

 

Sembcorp Marine: Secures premium jack-up contract again

Summary: Sembcorp Marine (SMM) announced that its subsidiary, PPL Shipyard, has signed a US$195m contract to sell a jack-up rig that is already under construction to Transocean Ltd. The rig is based on PPL Shipyard’s proprietary design, the Pacific Class 400. Transocean is a repeat customer of SMM, and owns five drilling rigs built by the group. Demand for premium high-spec jack-up rigs is returning – recall that PPL Shipyard won contracts to build two rigs with the same Pacific Class 400 design with options for three more from Atwood Oceanics last month. Jurong Shipyard also secured orders for two premium jack-ups with options for another four from Seadrill last month. Indeed, a recent study by ODS- Petrodata (Jackup rig market report 2010- 2018) predicts that the premium jack-up market may see a potential shortage of units by 2015. After securing about S$2.5b worth of new orders YTD, SMM has already met its new order target for this year. We maintain our BUY rating with fair value estimate of S$5.70. 

Source: OCBC Secs

Make Love More, Don't Make More Enemies 

 

A mild bull in bearish market..............

 

krisluke      ( Date: 16-Nov-2010 14:39) Posted: hse fut -254 sse -103 drag sti : (

 

hse fut -254

sse -103

drag sti : (

 

Wow, Smars really good, up orderbook, up P/E and environmental work as well  Read Bolded only.

Wall Street's flat session overnight unlikely to inspire Singapore shares in early trade. Any upside may be restrained by profit-taking, especially given recent hefty gains. Index ended down 0.5% at 3236.80 yesterday; support at 3200, while resistance expected at Friday's 3285 high. "The market may take a breather this week. There will still be focus on results, though external factors may have a greater impact," says DMG research head Terence Wong. Cites prospect of additional China tightening measures, renewed concerns over euro-zone debt problems as risks; "beyond these hiccups, the Singapore market is poised to continue (its) uptrend as liquidity continues to flow in." Hyflux (600.SG), SembMarine (S51.SG) may be in focus as water treatment firm secures US$100 million contract to build desalination plant in Libya, while latter sells rig to Transocean (RIG.VX) for US$195 million; Hyflux closed down 0.9% at S$3.26, SembMarine +0.6% at S$4.95.

 

Smars, >500, Buy on dips

[Dow Jones] SembCorp Marine (S51.SG) +0.4% at S$4.97 vs STI +0.1% after announcing US$195 million contract to sell jack-up rig already under construction to Transocean; rig scheduled for delivery 4Q11 or within 12 months vs estimated 24-month lead time for newbuild. Kim Eng, which keeps Buy rating, S$5.40 target, says "while it's unusual for the rig to be under construction before the formal contract to sell to Transocean was effected, we reiterate that it was not a speculative build on the part of SMM." Says, rig prototype Pacific Class 400, replaces Pacific Class 375, with higher spec for operating in depths up to 400 feet, drill depths of 30,000 feet. Adds, SMM confident of more orders for this type rig; US$195 million price in line with four rigs ordered last month for Atwood, Seadrilll. Orderbook quotes suggest S$5.00 N/T hurdle.



[Dow Jones] SembCorp Marine (S51.SG) remains +0.4% at S$4.97, after announcing US$195 million rig contract; modest gains in thin volume in line with peers Keppel (BN4.SG), flat at S$10.70, SembCorp Industries (U96.SG), +0.6% at S$4.87, as three stocks' sharp run up since early October likely prices in rosier outlook for orders; CIMB, which keeps SembMarine at Outperform, S$5.75 target, says SMM preferred sector pick for pure O&M exposure, potential for further consensus earnings upgrades for FY11-FY12. Says while Petrobras mega-deals still "big kicker" to watch for sector, "we are seeing a return of other contractors with more projects to be awarded soon." Goldman Sachs, which rates SMM at Buy, S$5.75 target, says rig order from U.S. operator Transocean--largest global driller. Adds, orders from U.S. operators--which own some of oldest, least competitive global fleet--could be significant industry catalyst, especially if they embark on replacement cycle. Orderbook suggests SMM unlikely to pass S$5 today

 

Smars,

 

Tmr Kpc 1092,  long position

Smars,

Life line at 486



Good Luck!!!!!!!!!

 

Trend Reversal,

Short kpc

Long Smars

 

krisluke      ( Date: 15-Nov-2010 15:57) Posted: SHORTING is the fashion word in the market now......

 

SHORTING is the fashion word in the market now......

 

HSE Improves : )

Let hope smars broke 503 today.

Now hanging the chin up bar at 493

 

buy low, sell high. ..........

lowchia      ( Date: 14-Nov-2010 19:07) Posted: On Friday, SembMar continue to trend downwards and closed at $4.92 with regular volume of 6.44 million shares traded. A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow).  This usually implies a continuation of a bearish trend. Both RSI & MACD are turning flat as MACD lines began to converse together. Important Resistance of SembMar: $5.19 Immediate Support of SembMar: $4.78 Currently prices are supported by technical /20 days MA at $4.78 As of now, prices are still supported by the raising trend lines and we would expect major support at $4.78 to be strong. We mention that 200 days MA will be a good entry price for SembMar thus the current prices will be too high for entry now. SEE ANALYSIS FOR WILMAR Instead readers who are vested should focus on the support at $4.78 and consider take profit once it breached with high volume.

 

solar energy world, maybe....

http://www.angelnexus.com/o/web/23874

 

On Friday, SembMar continue to trend downwards and closed at $4.92 with regular volume of 6.44 million shares traded.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow).  This usually implies a continuation of a bearish trend.

Both RSI & MACD are turning flat as MACD lines began to converse together.

Important Resistance of SembMar: $5.19

Immediate Support of SembMar: $4.78

Currently prices are supported by technical /20 days MA at $4.78

As of now, prices are still supported by the raising trend lines and we would expect major support at $4.78 to be strong.

We mention that 200 days MA will be a good entry price for SembMar thus the current prices will be too high for entry now.

SEE ANALYSIS FOR WILMAR


Instead readers who are vested should focus on the support at $4.78 and consider take profit once it breached with high volume.

 

In a split second, market sentiment turns bearish,

Gap will fill up at 479.

Important Resistance 471.

Let hope market will not be that bearish by the way