STX PO   

Entering the Middle East

It is considering a listing on the Korea Exchange (KRX) to raise funds to further expand its petroleum and chemical tanker business, it said in a statement.



It estimated it will invest US$800 million in 16 new vessels this year, which will include the purchase of three new medium-ranged (MR) petroleum tankers, estimated to cost US$135 million.



The the new tonnage will be financed initially through internal funds, bank loans and a possible "dual listing on KRX," the company said.



"At present we are just considering, as there are some limitations with a dual listing, we can't provide more details," the spokesman said.



The company, which derives most of its profit from shipping bulk cargo such as coal, grains and iron ore, recently reported a 4Q profit of US$97 million, compared with US$25 million in the year-ago period.

 

Trend uncertain... be cautious.

Uptrend MAY be a short one but hard to confirm now.

 

I mean all views regardless of TA or FA are appreciated :).

Thanks.

 

Hi there,

Please correct me if  I am wrong, does this chart looks like a market correction happening?  Although the last few days it does not seem like moving sideways, it looks to me like it is still gonna move up?

All TA views are appreciated.

Thanks.

 

How I know.... suddenly two big boss step down... scared me until I cabut lari so fast.. haiih..

 

Why management change? 

 

I know the TA chart is on uptrend, but external news like management changes might hit the price (sometimes), but not for this counter ...

 

Uptrending as expected. But also could be due to bull run effect today.

 

first lesson learnt in Year 2007,  management changes not always a bad thing, haiih.. I lost my dividends.. anyway, good luck all, STI over 3000 boost me up man.

 

CLSA raised its target price from $0.96 to $1.13.

 

I am very disappointed with this counter, they buy buy buy up to 1.03, and 6.30 pm tell you two directors resign, then, dividend never tell u how much.. too risky for investor like me... by right, there should have a selldown today, but all the people are holding their shares for dividend... and try to sell on Wednesday.. but, I made my own move, I sold all my lots at 1.02 today. Enjoy the thrills for this counter for those still holding.. I might be wrong also.. cheers~

 

Uptrending now

 

news released an hour ago, RESIGNATION OF DIRECTORS AND RECONSTITUTION OF AUDIT AND NOMINATING COMMITTEES  ... shit.. is this a bad news? hmm...

 

South Korea aims to become the oil storage and transshipment hub of choice for North Asian consumers by 2010. This should be positive for STX as ships are required to transport the oil.



South Korea aims to become the oil storage and transshipment hub of choice for North Asian consumers by the end of this decade, officials said on Wednesday, taking advantage of growing demand and trade in the Pacific.



Burgeoning import demand from China, expanding crude exports from eastern Russia and the expansion of South Korea and Japan's refining systems to tap global markets are increasing demand for storage and blending tanks in North Asia.



"A Northeast Asia oil hub is necessary as demand from the four big consumers in the region will grow more than any other parts of the world," said Hwang Sang-chul, director of KNOC's petroleum division, at an energy conference hosted by the ministry of commerce, industry and energy.



The Korea National Oil Corp. (KNOC), which manages the country's strategic oil reserves and leases out some tanks on a commercial basis, may consider giving users a five-year break on tariffs in an effort to encourage more use.



KNOC aims to expand its total capacity to 146 million barrels by 2010, up from 121 million barrels, officials said last month.



It currently rents out 27 million barrels of capacity to oil companies such as Total and Statoil, major producer nations like Kuwait and Algeria as well as trading houses such as Swiss-based Glencore and Chinaoil.



It hopes to expand such joint storage deals -- where South Korea gets pre-emptive rights to buy the crude in case of emergency -- to 40 million barrels by 2010.



Demand for storage facilities has surged this year as most markets have remained in contango, where prompt prices are cheaper than forward rates, paying for the cost of storage. Growing oil import demand has also fed the trend.



The four major consumers -- China, Japan, Taiwan and South Korea -- in the region consumed 15 million barrels per day in 2005, or 19 percent of world use.



That is expected to rise to 19.3 million bpd by 2015, Hwang said, with China's demand alone rising by 93 percent.



He said South Korea could play a key role in transshipping oil exports from Russia's giant Sakhalin Island projects, from the oil sands of Canada or from South America to China, India, Singapore and the Middle East through storage facilities here.



Despite having less of a logistical advantage, South Korea is hoping to become the Singapore of North Asia, Hwang said.



Singapore is responsible for 45% of entire oil trade in Asia, mainly focusing on India, Southeast and Southwest Asia, he said.

 

no wonder, just to name 3 big transaction, 484 lots buy up at 0.99 , 598 lots buy up at 1.00 , and 337 lots buy up at 1.03 .... more uptrend will come if this scenario keeps happening, muahahhaa... will be a good ending year 2006 man... I hope we will have another surprise soon by the dividend payout rates soon~

 

walau... Did I see the price wrong??????? close at 1.02 , high 1.03 today!!!!! wow..  well, not as fantastic as Genting yet, .....

 

not known yet. shd be gd, last years quite good.

price shd be back to 1 dollar after dry bulk index went up.

 

la la la la la la... selling price at 0.995, please break th 1.00 barrier!

 

0.98 !!!! anyone knows how much is the dividend payout on dec 26-29 ?

 

ho ho, dec 26 will close the book for dividend for this counter... Hope to get good dividend as last year, anyone know how much dividend they are goign to give??? chees!