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Thanks. You have said it right! After reading yr post and checking with TA myself, I've picked up some last week and still above the water despite the sell-down. Good stocks to hold. Fundamental is good. If situation is better, this will be the first one to cheong as it has stayed above water in this crisis.
My opinion only.
bradical ( Date: 02-Jul-2008 00:54) Posted:
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ATWOOD OCEANICS PACIFIC LIMITED CONDITIONALLY EXERCISES
OPTION TO BUILD 2
SHIPYARD
ND SEMI-SUBMERSIBLE RIG WITH JURONGSingapore, July 4, 2008:
subsidiary, Jurong Shipyard, wishes to announce today that Atwood
Oceanics Pacific Limited, a wholly-owned subsidiary of Atwood Oceanics
Inc. has conditonally exercised an option to construct a 2
rig with Jurong Shipyard.
Contract details are being discussed and a further announcement will be
made at a later date.
Sembcorp Marine, through its wholly-ownednd Deepwater SemisubmersibleSembmarine on a swing these 2 days. Another US$400 million contract order from a Norwegian customer for offshore platform announced today.
Top picks among all houses for pure oil/gas play. Think can consider, reasonably priced.
PRESS RELEASE
SEMBCORP MARINE’S JURONG SHIPYARD SECURES REPEAT
ORDER FROM LARSEN OIL & GAS TO BUILD A DEEPWATER SEMISUBMERSIBLE
DRILLING RIG AT US$640 MILLION (S$870 MILLION)
Singapore, June 30, 2008:
Sembcorp Marine, has secured a contract from Larsen Oil & Gas to build a
deepwater semi-submersible drilling rig at a contract value of US$640
(S$870) million.
This latest turnkey rig order is the fourth consecutive newbuild deepwater
semi-submersible drilling rig that the owner has placed with Jurong Shipyard.
Scheduled for delivery in April 2011, the 6
drilling rig will be built based on the Friede & Goldman Ex-D
design. It will have specifications identical to the three deepwater semisubmersible
drilling rigs ordered by owner from Jurong Shipyard.
Mr Martin Nordaas, Managing Director of Larsen Oil & Gas (Singapore) said
“We have chosen Jurong Shipyard as a trusted partner in our strategic thrust
into deepwater rig building. Our confidence in Jurong Shipyard is a result of
our strong working relationship and the yard’s proven rig building track
record. We are pleased with the yard’s high standards of quality, safety and
reliability in its on-time deliveries. The co-operation with Jurong Shipyard
stretches far beyond traditional client-contractor relations and this cooperation
is a large part of our success over the past five years.
All three units of our deepwater semi-submersible rigs, PetroRig I, PetroRig
II and PetroRig III, currently under construction in the shipyard have secured
long-term charter contracts. PetroRig I will be chartered to Petrobras
America to drill in the Gulf of Mexico while PetroRig II is contracted to
Petroleo Brasilieiro S.A. for drilling in offshore Brazil in 2009. PetroRig III will
be chartered to Pemex for drilling in Mexico in 2010.
We remain optimistic of the offshore oil and gas market and will continue
with our robust expansion into this sector.”
Jurong Shipyard, a wholly-owned subsidiary ofth generation ultra-deepwater semisubmersible2
Mr Don Lee, Senior General Manager of Offshore Division said “We are
pleased with the confidence that Larsen Oil & Gas has entrusted us with an
additional unit of the semi-submersible rig. We are delighted to be part of
Larsen Oil & Gas’ rig building programme and their thrust into the deepwater
offshore oil and gas sector.
We have demonstrated our strong turnkey expertise in semi-submersible
construction by being the first to deliver on-time a total turnkey semisubmersible
rig, the
This contract, effective by end July 2008, is not expected to have any
material impact on the net tangible assets and earnings per share of
Sembcorp Marine for the year ending December 31, 2008.
Larsen Oil and Gas Group is a privately owned international drilling and
production contractor with offices in Norway, Aberdeen (UK), Singapore and
Dubai.
The Group specialises in the development, construction and operation of
semi-submersibles and Jack-up Drilling Platforms, FPSOs and Mobile
Drilling and Production Platforms.
Larsen Oil and Gas manages a group of owner companies (listed on the
Oslo Stock Exchange) as follows:
Petrolia Drilling ASA (including Venture Drilling)
PetroJack ASA
PetroMena ASA
PetroProd Ltd ASA
West Sirius to its owner in March 2008.”For media and analysts enquiries, please contact:
Ms Judy Han
Senior Vice President
Investor Relations & Communications
Tel No : 65-6262 7203
Fax No : 65-6261 0738
Email :
judy@sembcorpmarine.com.sgWebsite :
http://www.sembcorpmarine.com.sgFor Larsen Oil & Gas:
Mr Lars Moldestad
Tel No : (47) 906 99197
Mr Martin Nordaas
Tel No : (65) 913 83188
Guys, here is the topic today: From CIMB-GK
Offshore & Marine Sector- In for the long haul
Order momentum for Singapore yards has been impressive YTD, with S$5.3bn of new contracts, 65% of which are dominated by deepwater semi-submersibles. We believe the growth cycle could extend beyond 2012 on the back of: 1) the strength in oil prices; 2) an intense shortage in the deepwater drilling market; and 3) strong demand for production units. We reiterate Overweight on the Offshore and Marine sector with upgraded target prices for Keppel Corp (S$13.70) and SembCorp Marine (S$5.25) as we upgrade order-win assumptions for 2009-10. In the mid-cap oil and gas services space, Swiber is our top pick for its strong earnings growth and drive towards deepwater drilling.
DJ Sembcorp Marine Gets US$430M Contract To Build 2 Jackup Rigs
SINGAPORE (Dow Jones)--Sembcorp Marine Ltd. (S51.SG) said Friday it has secured a US$430 million contract to build two offshore jackup rigs for Seadrill Ltd. (SDRL.OS).
The rigs are scheduled to be delivered in March and November of 2010, respectively, the company said in a statement.
The contract is not expected to have any material impact on current-year earnings.
-By Frankie Ho, Dow Jones Newswires; 65-6415-4160; frankie.ho@dowjones.com
(END) Dow Jones Newswires
June 05, 2008 19:36 ET (23:36 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.
4 Jack Up Rigs ordered - 2 to KepFels (USD 420m) and 2 to PPL - subs of SembMar (USD 430m).
With the 4 semi subs ordered (3 to KepFels and 1 to SembMar) in the past month, the rig order flow to KepCorp and SembMar is reminiscent of the order flow in 2005/2006.
http://www.seadrill.com/modules/module_123/proxy.asp?C=42&I=1963&D=2&mid=27&Sid=71
8_factor ( Date: 05-Jun-2008 22:00) Posted:
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SINGAPORE, May 29 (Reuters) - Sembcorp Marine (SCMN.SI: Quote, Profile, Research) rose as high as 3.6 percent to a near six-month high of S$4.59 with over 7 million shares traded after the rig-maker secured an order to build a rig worth $640 million.
SembMarine, the world's second-largest offshore oil rig-builder, said on Wednesday its Jurong Shipyard unit received an order to build a deepwater semi-submersible drilling rig from Norway's Seadrill SDRL.O.
Analysts said the size of the contract suggests that rig-builders might able to pass on rising material costs to their clients.
"Contract sizes for the same semisub have been getting larger suggesting cost escalations seem to be getting passed through," Deutsche Bank analyst Pyari Menon said in a client note.
Credit Suisse analyst Haider Ali said higher equipment and material costs were factored in the large contract value.
"This makes us more confident of SembMarine's ability to pass through equipment cost escalation and our assumption of an improvement in SembMarine's operating margin," Ali said in a client note
Dear SJ forumers,
For Semb Marine, any one knows why after lunch, there is a sudden increase in price and volumes today?????? Thanks.
Sept11 ( Date: 15-May-2008 15:35) Posted:
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Miss the boat, it will go up till 4.40, which is the 3rd point of FAB point,