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Sembmarine

Farmer, Tq for your helpful inputs.

 

Support around $3.88. Resistance is around $4.30-$4.40.

 

This one is driven by news/speculation hope right now, hence no R & S level. But strickly looking at the chart, immediate R at $4.20s & S at $3.70s.

 

 

i hear u Farmer. Management promise to tighten control to ensure it never happen again.

Btw in my previous post, i forgot to mention SembMarine also has a shipyard in the USA. They are well positioned in North America, South America, East Asia, South East Asia, South Asia, and Middle-East. Except SembMar don't have a presence in Europe.

So can anyone let me know where's the next resistance and support?

 

This one really so good meh? Investor really has got short memory... forgot the recent US dollar scandal already hor? 

 

SembMarine has shipyards in singapore, china, india, saudi arabia and now brazil. It's a bright future.

At $4 now, where is the next resistance and support?

zhuge_liang      ( Date: 18-Apr-2008 13:06) Posted: "SMM's (Sembcorp Marine) main rival Keppel has a Brazilian yard...and this latest alliance puts SMM on par with Keppel when bidding for Petrobras contracts," Citigroup said in a client note.

 

Yep, as mentioned in my post on 15 Apr, benefits, if any, from the Brazilian discovery will not be for another 3-4 years times - minimum..

Current euphoria maybe abit premature.

 

 

this petrobas hype may make submarine surge past sembcorp and then will sink to reality

watch the show..

 

$4..will it reach $4.40 by next week?

 

"SMM's (Sembcorp Marine) main rival Keppel has a Brazilian yard...and this latest alliance puts SMM on par with Keppel when bidding for Petrobras contracts," Citigroup said in a client note.

 

this submarine is so bullish.. not sinking

 

Sembcorp Marine said on Thu its unit has signed an agreement with Brazil's Mac Laren Shipyard to operate a shipyard in the Latin American country.

Under the alliance its unit, Jurong Shipyard, would collaborate with Mac Laren for all future offshore oil and gas projects in Brazil, the company said in a statement.

Analysts said earlier this week that Singapore's offshore oil firms such as Sembcorp could benefit from a large oil find in Brazil by Petrobras.

 

Looks like the next resistance is at $4.40.

 

is this still a good buy at current levels? catching up to 4 soon

 

broken out of 3.80 resistance, but volumes not very convincing.

 

Laying the ground work for the Carioca field development?

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_7D8EA2B0E3C565094825742E003E8C5A/$file/SCMStrategicAllianceinBrazil17April2008.pdf?openelement

 

SembMar has a 30% stake in Cosco Shipyard, Cosco's 51% owned subsidiary. So when Cosco's price fell, SembMar fell too.

 

33 billion barrels of oil would be the 3rd-largest in history, outranked only by Saudi Arabia's Ghawar and Kuwait's Burgan fields.

However, Mark Flannery, a Credit Suisse analyst in New York, said today on a conference call with clients that the figure is "way off the mark". An estimate of about 600 million barrels "sounds reasonable," he said, adding that the firm isn't yet giving an official assessment of its own.

At least 3 months to determine how much oil can be recovered from the Carioca oilfield.

If this is correct, you can expect some profit-taking on Sembmar and Kepcorp.

 

cyjjerry85, I got it from Bloomberg yesterday. Assuming they can extract 1/3, that will be around 10 billion barrels of oil.

cyjjerry85      ( Date: 15-Apr-2008 14:08) Posted: zhuge_liang...may i noe where u got the news below from? and when did it came out? thanks!  zhuge_liang      ( Date: 15-Apr-2008 13:23) Posted: Shares of rig-makers rose as crude prices hit a new record and as Deutsche Bank said Singapore offshore firms could benefit from Petrobras making a big oil field discovery in Brazil. Keppel Corp and SembCorp Marine rose. The head of Brazil's National Petroleum Agency Harold Lima said on Mon the offshore oil field find could contain 33 billion barrels of oil equivalent and may be the world's biggest discovery in 30 years. "If the find is as significant as the news reports suggest, and Petrobras proceeds with full scale development, Singapore offshore players should be long-term beneficiaries from both rigs as well as production vessel orders," Deutsche analyst Pyari Madhava Menon said in a client note. U.S. crude futures prices surged to a record high above US$112 a barrel on Tue, driven by supply disruptions and a weak dollar.

 

Just bought @ 3.73