Vard   

Vard Holdings

More about Anchor Handling Tug Supply Vessels (just for  general knowledge and educational info):

Offshore Anchor Handling is an activity that can be termed as thrilling as well as dreary, tiring, petrifying and more often than not professionally very rewarding. Anchor handling as a whole is able to test the vessel handling proficiency of expert handlers and even the master’s patience to the limits. To better understand and imply such intense vessel handling techniques, one has to devote a lot of time at sea and be constantly focused.

Anchor Handlers or Anchor Handling Tug Supply Vessels are very powerful ships that deploy, recover, and shift a sub-sea mooring pattern. These vessels are normally seen working with offshore installations. Either one or a fleet of anchor handlers (AHTS) co-operate with each other and work as a unit. During the demanding operation of Anchor Handling of an offshore installation such as a Drilling unit or even a Semi-Submersible Rig, these offshore vessels are assumed to be ‘slaves’ when assisting the vessels whose anchors are to be worked upon.

Prudent professionalism and total co-operation is required by  personnel  while performing such complex jobs. During anchor handling operations, heavy machinery and related equipment are repeatedly pushed to their extreme in a very hostile environment. Breakdowns do happen, although not frequently, but when they are most unexpected. Such tough working conditions are ripe for causing serious damages to the vessel and her crew as a result of inadvertent  brushing  with the installations while working in close proximity, vessel’s motions due to the sea conditions and when  maneuvering  with high tension wires, chains, etc.

Anchor Handling Tug Supply Vessels are super strengthened, purpose built and different from the  harbor  tugs, or even the ocean going ones. The newer anchor handling tugs are built to survive the toughest conditions of the sea, keeping in mind safety, comfort and complete efficiency of the crew. They have limitations and applications of their own, making them the superior choice for sub-sea mooring operations in the offshore Oil and Gas fields.

All such Anchor Handling Tug Supply Vessels  have certain things in common and have a range of work process in specific areas. The job requirements go along with the characteristics which are as mentioned below –

1. AHTS vessels have superior bollard pull and a higher engine rating (BHP) which makes them powerful enough to be  utilized  for  specialized  jobs such as Anchor Handling.
2. They are fitted with a combination of multiple thrusters (Bow and Stern)with twin-screw CPP systems  providing tremendous vessel handling features that allows such vessels to work in any sea condition.
3. Large amount of strengthened deck space astern of the accommodation areas allow even the largest of the anchors, heavy wires, chains, buoys and other related equipment to be stowed and handled.
4. AHTS have an extremely powerful multi-drum system catering twin winches, one each for towing and anchor handling purposes. This is apart from the combination of other spare drums and work winches used especially for towing and deep water anchor handling.
5. Sufficient amount of anchor chain can be stowed on board these vessels due to the availability of larger capacity chain lockers.
6. AHTS are multipurpose vessels that can even perform the duties of the ordinary supply boats such as carrying large quantity of water, fuel and deck cargo.

Similarly, the Anchor Handling Tug Supply Vessel (AHTS) can be used up in diverse applications that are  utilized  in the offshore industry. They can be as follows –

1. AHTS are used as multipurpose work boats in the oil and gas offshore field. They can perform towing operations, rig moves, execute general supply duties by carrying dry and liquid cargo such as cement, mud, fresh water, fuel oil, etc for the offshore installations as need be.
2. If the ocean going tugs are not readily available, then these workhorses can take up to the role of salvaging and rescue.
3. Anchor work for rigs, barges, semi-submersibles, construction barges, etc can be executed with the help of these kinds of vessels. These vessels can perform efficiently in toughest sea conditions and also in ultra deep waters.
4. Installation of buoys, SBM mooring, sub-sea moorings are ideally done with the assistance of the Anchor Handling Tugs.
5. Nowadays, they are progressively being  utilized  for towing and anchor handling of newer offshore structures such as the Tension Leg Platforms (TLP’s) or even the gravity based platforms and likewise.

On the contrary, AHTS vessels are only designed to perform certain tasks that are practically impossible for the other specifically designed offshore work boats such as the dedicated Platform Support vessels (PSVs), Multipurpose Platform support vessels (MPSVs) and likewise. Restrictions of these vessels are based upon the type of work to be carried out such as -

1. Most of these vessels have a shallow draft and a design limitation of a wavy stern which is where they lose the pulling power during deep sea operations and are subsequently at their worst during rough sea weather conditions.
2. They can be restricted to handle large construction or cargo barges when operating in confined spaces.
3. Since they are more often than not confused with the harbour tugs, these vessels are not designed to push other vessels either alongside or at sea.
4. These vessels have a limited pulling power for which the towing gears steel deck fittings, tow points and other suitable towing assemblies have to be strong enough in order to perform effortlessly.

Since such jobs are difficult and could endanger lives, taking short cuts, working impatiently, building up frustration and reacting complacently have to be isolated.  The Master and the Crew of such workhorses, hence, have to remain alert at all times and portray swift and positive reactions to avert catastrophic consequences.

Extracted from:

http://www.marineinsight.com/marine/marine-news/headline/features-applications-and-limitations-of-anchor-handling-tug-supply-vessels-ahts/

 

 

Vard building O&G osv right? They are one if the leading builders with their innovative ship designs

jacelin84      ( Date: 06-Aug-2013 10:06) Posted: It seems like a lot of investors still very ignorant of Vard's business and its interface in the marine industry. Gallant for sure is not into O& G or shipping. heavenknow      ( Date: 06-Aug-2013 09:48) Posted: Hmmm, agreed that O&G sector is struggling. But this also is the best time to look for counters with depressed pricing right? It would be silly if we enter a booming mkt when all the counters are trading at a much premium pricing

 

Gallant is in industrial parks, resorts, property n ultilities business n lately auto mobil.

jacelin84      ( Date: 06-Aug-2013 10:06) Posted: It seems like a lot of investors still very ignorant of Vard's business and its interface in the marine industry. Gallant for sure is not into O& G or shipping. heavenknow      ( Date: 06-Aug-2013 09:48) Posted: Hmmm, agreed that O&G sector is struggling. But this also is the best time to look for counters with depressed pricing right? It would be silly if we enter a booming mkt when all the counters are trading at a much premium pricing

 

It seems like a lot of investors still very ignorant of Vard's business and its interface in the marine industry.

Gallant for sure is not into O& G or shipping.

heavenknow      ( Date: 06-Aug-2013 09:48) Posted: Hmmm, agreed that O&G sector is struggling. But this also is the best time to look for counters with depressed pricing right? It would be silly if we enter a booming mkt when all the counters are trading at a much premium pricing. bishan22      ( Date: 06-Aug-2013 08:38) Posted: All O& G are struggling. Look at Gallant, IEV, Dyna Mac......the list goes on. Agreed to look for other greener pastures.

 

Height00 shld reply why his view is as such.

Probably he's upset w this ctr lah.

Agreed that opportunities abounds when problem arise. 

heavenknow      ( Date: 06-Aug-2013 09:48) Posted: Hmmm, agreed that O&G sector is struggling. But this also is the best time to look for counters with depressed pricing right? It would be silly if we enter a booming mkt when all the counters are trading at a much premium pricing. bishan22      ( Date: 06-Aug-2013 08:38) Posted: All O& G are struggling. Look at Gallant, IEV, Dyna Mac......the list goes on. Agreed to look for other greener pastures.

 

Hard Times In Brazil But 2Q13 Could Be Bottom - BUY - TP $1.10 - DMG

 

Hmmm, agreed that O&G sector is struggling. But this also is the best time to look for counters with depressed pricing right? It would be silly if we enter a booming mkt when all the counters are trading at a much premium pricing.

bishan22      ( Date: 06-Aug-2013 08:38) Posted: All O& G are struggling. Look at Gallant, IEV, Dyna Mac......the list goes on. Agreed to look for other greener pastures. height00      ( Date: 03-Aug-2013 08:01) Posted: Vard FA was damn lousy why keep this stock cut and look for better choice

 

All O& G are struggling. Look at Gallant, IEV, Dyna Mac......the list goes on. Agreed to look for other greener pastures.

height00      ( Date: 03-Aug-2013 08:01) Posted: Vard FA was damn lousy why keep this stock cut and look for better choice

 

It would be nice if senior is able to enlighten us with some facts and figure instead of jus a statement...

height00      ( Date: 03-Aug-2013 08:01) Posted: Vard FA was damn lousy why keep this stock cut and look for better choice

 

Feel I have the need to be responsible and clarify. Due to this quarter's loss which I assume is one-off and believing that Vard has growth potential in the long run, I value it as a growth company this time round, which is why I added back retained earnings/share to the DCF value, based on the assumption that every dollar of retained earnings/share can translate to every dollar of market value/ share. My valuation may be subjective, but at least is good to clear the air. No intention of influencing anything. Just to share only.. 

SFGuyRuleZ      ( Date: 29-Jul-2013 21:54) Posted: Recently consulted a few of my friends working in finance line and asked them about Discounted Cash Flow Valuation (DCF) and fair value. From what I understood, for a stock that is highly liquid and with high volume, retained earnings/share can be added to DCF to obtain a fair value, provided the business is on-going in the long run. As for how discount factor is obtained, it varies differently for different people but from my experiences accumulated over the years, 0.12 is a rather good discount factor I use (taking into account risk-free rate, risk premium and inflation rate) often for companies below $5billion market capitalization and with relatively good current ratio, acid-test ratio and debt to equity ratio. For STI-listed and stable companies with low debt and high cash flow (e.g Keppel and ST Engineering), I realise a discount factor of 0.06 or less is used, which is reasonable as low risk => low yield. Therefore, for Vard now based on current results and assume current earnings are at least maintained and taking into account no growth (positive or negative), and that business is on-going in the long run: Based on discount factor 0.12 and g = 0, DCF/ share ~= 0.46. retained earnings/ share = 0.45. My fair value/ share for Vard now = 0.92. Hope I clear any misunderstanding if any.. =) SFGuyRuleZ      ( Date: 25-Jul-2013 11:02) Posted: Based on first half results 2013 for now, net book value (excluding intangible assets)/ share   = 0.56 DCF valuation based on discount factor 0.12 and assume no growth (positive or negative), letting g = 0, intrinsic value/ share  ~= 0.46. Fair value / Target Price = ?? (You decide..)   SFGuyRuleZ's target price for now = 0.89. Jacelin84's target price = 0.69. Hawkeye's target price = 0.5 Market's target price = ???????? Cheers!!

 

Please share why damn lousy and what are the better counters leh~

Or are you one of the shorters who kanna burnt and want us to help you push price down for you to escape? 

height00      ( Date: 03-Aug-2013 08:01) Posted: Vard FA was damn lousy why keep this stock cut and look for better choice

 

Share w us what better choices are there?

height00      ( Date: 03-Aug-2013 08:01) Posted: Vard FA was damn lousy why keep this stock cut and look for better choice

 

Any idea? :)

height00      ( Date: 03-Aug-2013 08:01) Posted: Vard FA was damn lousy why keep this stock cut and look for better choice

 

Vard FA was damn lousy why keep this stock cut and look for better choice

 

Hahahahaha!!!!

WanSiTong      ( Date: 01-Aug-2013 23:15) Posted: Wa, Jim Rogers number 2 ! Simpsons      ( Date: 01-Aug-2013 23:03) Posted: Equities generally is still cheap and other than blue chips..not many 2nd liners stocks so hopefully vard with ita fundamental can go up to $1..then $1.5..then..$2...then $2.5..then $3... I intend to leave the shares for children and children's children..lol

 

Norwegians are having long summer holiday. .must wait and wait before they secure new contract. .if dec coming again they will have another long long holiday. good life for them. How to compete with chinese or Singapore ship yard? Short term play is ok. Long term investor better buy other company.

 

Agree with you. 0.90 is a given. 1.00 is my target.

SFGuyRuleZ      ( Date: 02-Aug-2013 10:38) Posted: Looking at the candlestick pattern of Vard, it more and more resembles a fry pan bottom as days go by. The strong white candle on 30th July can indicates 2 things: 1) Pump and dump (I feel is extremely unlikely based on my own observation). 2) Insiders may have already grapped hold of some good news and that's why buy in cheap first. What's really brewing I am really not able to guess. But if follow the pattern of previous fry pan bottoms for other counters, the reversal is gonna be a bullish one. Just my own opinion. Do your own due diligence.. =)

 

Any idea whether a short squeeze can happen to this counter? If the outstanding shorts area very huge given that Vard had been heavily sold down. If not many willing to sell when good news come, then will there be a massive short covering?


 

 

My brokers say buy. At what price? You decide.