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INTERVIEW: Keppel Corp Executive Says Enquiries For Rigs Remain Strong
SINGAPORE -(Dow Jones)-
" You can't control the world financial system and markets, but so far, enquiries are still active, and that augurs well for us," Tong Chong Heong, the chief executive officer of Keppel FELS, the offshore and marine arm of the
The current downturn in the global economy following the sovereign debt crisis in
" Fortunately for us, all the orders that we have are bona fide customers. There really have been no speculators building rigs. We are very careful who we build for," he said.
Drilling companies are still making money, which is a " positive sign," he said.
Tong said
He didn't give the likely size of the orders that could come to
-By
Road block at $9.50 was just cleared!
Last 2 days of mild correction did present an opportunity to go long - in anticipation of Brasil's US$Billion contracts.
On Tuesday, Kepcorp trend downwards and closed at $9.40 with LOW volume of 3.69 million shares traded.
A black candle sticks with little lower shadow affirms on the weakness of the rally and prices are likely to pull back.
Both RSI & MACD are flat as RSI trend sideways.
Important Resistance of Kepcorp: $9.56
Immediate Support of Kepcorp: $8.89
Currently prices are supported by the 20/100 days MA.
Since 21/Oct, prices have............... READ MORE
Credit Suisse maintains market weight on offshore and marine sector, prefers Keppel Corp
Keppel Corp remains the top pick in the offshore and marine sector for Credit Suisse analysts who prefer rigbuilders to shipbuilders due to their stronger segment fundamentals in the offshore industry.
'We believe Keppel Corp has the best order book coverage, a significant catalyst coming from the potential Petrobras contract and an attractive valuation,' said analysts Gerald Wong and Christopher Chang, who gave Keppel an outperform rating.
From a risk-reward perspective, the analysts find Sembcorp Industries 'attractive' as it is trading closest to the 2008-2009 trough valuation levels.
However, they turn cautious on neutral-rated Sembcorp Marine and STX OSV, believing that these two companies will be 'more significantly' impacted from a slowdown in orders.
'Our least preferred stock remains Cosco Corp given the ongoing execution and earnings risks,' said the analysts.
Source: Business Times Breaking News
Warrant Strategy: Call - 9.00 - 02/03/2012 - PA5W - Macquarie Bank - KEPPEL CORP MBL ECW120302
Pivot: 9.05
Our preference: Long positions above 9.05 with targets @ 9.9 & 10.4 in extension.
Alternative scenario: Below 9.05 look for further downside with 8.75 & 8.45 as targets.
Comment: the RSI calls for a rebound.
Key levels
10.85
10.4
9.9
9.53 last
9.05
8.75
8.45
Click to view chart in actual size.
Petrobras 21-rig tender award has reached 'last lap'. Announcement may come as early as next week, if not the following weeks but not later than end-Dec - as reported by Upstreamonline.com.
If can grab some ~$9.40 in today's weak mkt, it's worth a bet - but no guarantee.
Petrobras takes bids for rig tender
Petrobras this week received revised commercial bids in its massive tender for the chartering of up to 21 Brazilian-built ultra-deepwater drilling rigs after almost two months of tough negotiations.
Upstream staff 01 December 2011 16:22 GMT
For details, read tomorrow's edition of the newspaper.
yes love making $$$$$$$$$$$$$$$$$$$
:)
ozone2002 ( Date: 19-Nov-2011 12:18) Posted:
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Oil Gains on Central Banks Measures.....Nymex $101+ Brent $111+
http://www.cnbc.com/id/45484759
Keppel won't be left behind too..... $10+ by X'mas!
KEP CORP is forming a REVERSE Head n Shoulders pattern.. (bullish)
Watch for confirmation of a break out upwards...at its current levels
DYODD gd luck..!
On Thursday, Kepcorp trend downwards and closed at $9.13 with regular volume of 2.35 million shares traded.
An inverted hammer occurred. If this occurs during a downtrend it implies a reversal. Look for a confirmation of the reversal on the bar.
Both RSI & MACD are bearish as RSI trend downwards.
Important Resistance of Kepcorp: $9.55
Immediate Support of Kepcorp: $8.92
Currently prices are resisted by the 100 days MA at $9.55
From the chart, we could see that ........................ READ MORE
Keppel Corp: Secures two contracts from Indonesian customers worth a total of ~ $47m.
The first contract is for a Coal Transshipment Barge for repeat customer PT Indo Straits Tbk.
The vessel is scheduled for delivery in the 4Q12. The second is for the construction of three tugboats for a new customer, an int’l shipping co.
The 3 tugboats, 2 of which are 45 tons and the last 50 tons are expected to be delivered in 3Q12 and 4Q12.
While positive, order size is small hence impact should be minimal.
> > > > .... ....
Good news to share. : )))
current high nymex @102 and brent @111 is due to political tension in Middle east - Iran and Syria, disconnect from world economic outlook (negative). otherwise Kep should be ~$11.oo
lowchia ( Date: 29-Oct-2011 20:15) Posted:
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Time to Call For Port ? ?/
Or continously riding the wave in the ocean...
As the old saying, no venture, no gain
Pivot: 8.5
Our preference: Long positions above 8.5 with targets @ 9.5 & 10 in extension.
Alternative scenario: Below 8.5 look for further downside with 8.2 & 7.8 as targets.
Comment: the RSI calls for a new upleg.
Key levels
10.35
10
9.5
9.19 last
8.5
8.2
7.8
From the strong upswing in Keppel n Sembmarine last week, 1 can guess that both should get something - overweight on keppel bcos of its strong presence in Brasfels.
Next week is critical - high chance that Ocean Rig will be disqualified bcos of Greece parent co's financial difficulites + its proposed " dual barrel drilling" technique hv not been tested in harsh environment = goods news to Keppel n Sembmarine. But in overseas tender nothing is for sure till the final hr - many invisible hands r at work now....
time to exit Keppel n Sembmarine is when winner is announced.
krisluke ( Date: 29-Oct-2011 18:57) Posted:
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On Friday, Kepcorp broke the minor resistance at $9.55 and closed at $9.73 with regular volume of 10.72 million shares traded.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 7 rising windows in the last 50 candles–this makes the current rising window even more bullish.
Both RSI & MACD are bullish as though RSI near overbought level.
Important Resistance of Kepcorp: $10
Immediate Support of Kepcorp: $9.55
Currently prices are supported by the 100 days MA at $9.55
Since 5/Oct................. READ MORE