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EDrill-1 and EDrill-2 drilling equipment sets (DES) at Oilfield Equipment & Structureâ??s fabrication yard in Singapore are progressing ahead of schedule and are on track for pre-commissioning in October and December 2013 respectively.
The DES will be fully assembled with the mast raised and scoped at OESâ?? fabrication yard prior to being transported to the COSCO shipyard for full commissioning and integrated acceptance testing with the tender barge power and control systems.
This process allows drill crews to assist in preliminary function tests of the Drawworks, Topdrive, Accumulator, BOPâ??s and offline activities cantilever (OAC) pipe handling equipment in co-operation with equipment vendor commissioning specialists.
EDrill-1 Drillfloor being readied for lifting from the OES fabrication shop onto the DES Masterskids. This compact Drillfloor is a key part of the light weight DES package designed to move in only three (3) heavy lifts. During rig up and rig down the Drillfloor is landed â??Hands Freeâ?? by the heavy lift crane operator (HLCO) from the cab of his Favelle Favco PC-400 using 2 constant tension load control air winches. Integrating the Drillfloorâ??s outboard cantilevers eliminates the use of Hook & Pin connections thereby reducing overall weight, manual handling risk exposure and adverse weather handling delays.
EDrill-1 and EDrill-2 Masterskids are 23ft high by 48ft wide and designed to match wellhead platform (WHP) skid beams ranging from 30ft to 45ft while supporting 1,000,000 lbs Hookload and 750,000 lbs Setback loading. They can be scaled up to accommodate WHP capping beam spans up to a maximum of 60ft by adding variations of 3 foot, 8 foot, and 12 foot wide extensions.
EDrill-1â??s 152 foot telescoping derrick arrives from Akerâ??s manufacturing facility in Katy, Texas and is offloaded from the transport vessel. The mastâ??s 1,000,000 lbs Hookload and 750,000 lbs Setback loading capacities give it the ability to drill 30,000 foot wells while simultaneously racking back production casing and tubing strings.
China's shipbuilding industry to expand Korea orders advantage
At 10:30 on August 9, 2013 Source: Xinhua International
As the world's largest shipbuilding country, China has expanded its leading position in Korea, as supported by the state shipyard won the contract manufacture of gas carriers, however, China's private shipyards, struggled to obtain funding.
The first seven months of this year, China received 27.8 million dwt ship orders, accounting for about 47% of the global shipbuilding contracts, leading South Korea 7.8 million tons. The year before, the gap of 100 million tons.
Supported by the government shipbuilding companies received nearly three quarters of these contracts, which indicates that access to finance is not a problem for them. This is China's largest private shipbuilding enterprise China Rongsheng Heavy Industries Group Holdings Limited, the situation differently. Not getting any this year shipbuilding orders, China Rongsheng Heavy Industries Group Holdings Limited last month to seek government support. China this week has troubled shipping industry announced a three-year plan.
Seoul E * TRADE analyst Pumao Xian (sound), said: " China is trying to develop support for the shipyard by the State in order to help them to be more competitive when competitors face South Korea, which would mean that most of the face private shipyard funding problems will not get much help. "
According to shipbroker Clarkson data provided, Hyundai Heavy Industries, Samsung Heavy Industries and other South Korean shipbuilding companies received 20 million tons of shipbuilding orders. Throughout the world, as of July, shipbuilding orders from different companies amounted to 59.6 million tons.
According to UOB Kay Hian Holdings Ltd. said that in China, the first half of this year, supported by the government enterprises 74% of the new orders.
Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. from China Shipping Development Co., earlier this year won the manufacture six LNG contracts. COSCO Dalian Shipyard Co., Ltd. acquired a manufacturing contract for LNG carriers.
China earlier this week announced a three-year plan to urge financial institutions to support the shipping industry. The Government also hopes to strictly control new capacity ship industry and promote the development of high-end products.
Chinese shipping enterprises force offshore drilling platforms
At 10:57 on August 7, 2013 Source: International Ship Network
Offshore rig construction industry is one of Singapore's few heavy industry, despite strong demand, the industry still faces challenges. The reason for this phenomenon is that counterparts from China more competitive.
Wall Street Journal recently reported that Keppel Group, Keppel Offshore & Marine (Keppel Offshore and Marine) and Sembcorp this business strategy is to come up with high-end market shift, they had specialized in producing shallow water drilling platform, and now construction can begin in the deeper and more extreme conditions of oil and gas drilling equipment. But in this market segment Korean shipping prices have been very strong position, while Chinese enterprises figure is also increasing. The two Singapore companies reported second-quarter profit fell.
The Wall Street Journal reported that Asian shipyards (mostly from South Korea, China and Singapore) controls the offshore drilling equipment market share of around 75%, until two years ago, Keppel and Sembcorp jackup drilling platform or a major supplier. Jack-up drilling rigs generally built in relatively shallow waters of the sea bed. The cost of such a platform is usually about $ 200 million. But in 2012, the two companies won only nine jackup drilling platform, new orders, and including the Dalian Shipbuilding Industry Offshore Engineering Co., Ltd. and CIMC Raffles Shipyard in China, including COSCO is won 14 orders. First seven months of this year, China has 23 orders ahead of Singapore's 17 orders. Although Singapore builders still holding long-term orders, but cheaper Chinese drilling platform for Singapore means getting new business will become increasingly difficult.
And Singapore, threatened sizeable industry. Singapore Ministry of Trade and Industry data show that last year marine engineering in Singapore's manufacturing accounted for 6.4% of total output, bringing about 190 million Singapore dollars (about 15 billion U.S. dollars) in revenue.
Chinese shipyards in 2013 received orders rig is expected to hit the biggest this year, which is mainly affected by shipping enterprises from China's shipbuilding industry overcapacity redeploy resources boost. Chinese Government proposed five-year plan to build the Bohai Bay, Yangtze River Delta and Pearl River three marine engineering equipment manufacturing base.
China's " Twelfth Five-Year Plan" goal is to marine equipment sales reached 200 billion yuan, accounting for 20% of the global market. Religare Capital Markets ASEAN head of research Vincent Fernando said that in order to achieve these objectives and to obtain technical know-how, Chinese shipyards all want to beat the competition and even sacrifice profits.
Keppel Group announced last month, the company plans in 2014 launched a new rig designs. Drilling rigs for three thousand meters water depth exploration work, the cost is almost self-elevating drilling platforms fourfold. Singapore and China in this professional field can compete with the South Korean shipyard remains to be seen.
You have a few months more to buy only the most. Next Year starting first Q 2014 big delivery 4 times more compare to this year 700mil.
ruanlai ( Date: 07-Aug-2013 16:00) Posted:
Based on what I know of......COSCO is the best short counter for all the FMs and BBs........
Y
Confirmed DOWN TREND and continue to CONFIRMED DOWN TREND...............
SO
Follow the wave........to short down till 60cents......first....... |
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ya go down some more, don't go up yet, I am accumulating haha
Enjoy the long weekend everyone :)
ruanlai ( Date: 07-Aug-2013 16:00) Posted:
Based on what I know of......COSCO is the best short counter for all the FMs and BBs........
Y
Confirmed DOWN TREND and continue to CONFIRMED DOWN TREND...............
SO
Follow the wave........to short down till 60cents......first....... |
|
Based on what I know of......COSCO is the best short counter for all the FMs and BBs........
Y
Confirmed DOWN TREND and continue to CONFIRMED DOWN TREND...............
SO
Follow the wave........to short down till 60cents......first.......
Shanghai COSCO Shipyard P66/P67 Series modules deliver offshore FPSO
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Published :2013 -08-05 Source: China Ship Net Author: China Ship Net Views
Core Tip: Shanghai COSCO Shipyard held " P66/P67 series module FPSO offshore delivery ceremony" for the construction of two new generation Petrobras FPSO modules successfully delivered
August 1 morning, Shanghai COSCO Shipyard held " P66/P67 series FPSO offshore module delivery ceremony" for the construction of two new generation Petrobras FPSO modules successfully delivered. P66/P67 series FPSO offshore modules successfully delivered a milestone, marking the Shanghai COSCO Shipyard workers in the sea on the basis of technology export marine products made breakthrough progress made, the transformation and upgrading of a new stage, COSCO OFFSHORE's overall strength has been further enhanced. 2011, Shanghai COSCO Shipyard Group, in accordance with general manager Wang Yuhang " small but fine, small and specialized, small and spirited, small and culture, to achieve gorgeous turn" requirements and expectations of management headquarters and technology center in the care and strong support, with ECOVIX signed Petrobras eight FPSO design and consultancy contracts shipyards, ship industry in the country carried out the first marine " technology output" , based on good cooperation with each other, from 2012 to 2013, Shanghai Ship service and has won eight FPSO series modular design and construction contracts, three ultra-deepwater DP3 dynamic positioning of the sixth generation drilling rigs for the detailed design, production design, and module and rig construction orders. P66/P67 series FPSO offshore module manufacturing is the Shanghai Shipyard delivered the first batch of products, its total cost is equivalent to 4.5 57,000 tons bulk carrier cost. These modules perform the North Sea standards, difficult, high content is one of the four living modules and generic modules, such as modules each life long, 15.2 meters wide and 41.4 meters, 23.5 meters high and weighs 1,880 tons, the use of green design, human machine engineering and integration control technology, the use of green outfitting materials, equipment-class air-conditioning systems and sanitary units, the most advanced internal and external communication systems. Shanghai shipping from just 37,000 square meters, 280 meters quay of the " snail shell" where stocked to meet the requirements of the construction site, the establishment of marine QHSE management system and through the ABS certification. After more than 1,400 cadres and workers for a year of hard work, complete the design, structure, machine equipment, tubes, Denso, painting, interior outfitting, commissioning and lifting lashing work through the supervision of the Brazilian oil group, ECOVIX supervision groups, and the ABS scrutiny and inspection and test. Ergonomic design, noise control effect, lifting and lashing programs through out the world authoritative assessment of professional bodies or field verification. These modules have been designed and built quality and ECOVIX Brazilian oil company executives highly recognized. Shanghai Municipal Commission by letter, deputy Renwu Lei said in his speech, August 12, 2012, COSCO Group and the Shanghai Municipal Government signed a strategic cooperation framework agreement, a year later, demand continues to slump in the shipping, shipbuilding industry slump very period, Shanghai COSCO Shipyard proactive, take the initiative as in the competitive market situation, accurate positioning, the success achieved from the traditional ship repair industry to the marine engineering equipment industry strategic transformation and achieved remarkable results. The first FPSO offshore modules successfully delivered, marking the Shanghai COSCO Shipyard successfully enter the mainstream market, marine, stood on the field of marine engineering equipment manufacturing new starting point. COSCO Shanghai Yangtze River Delta region has become the first successful export of marine equipment module of the enterprise, fully embodies the COSCO Shipyard Group's R & D design and construction of marine equipment on the market leading position. Shanghai COSCO Shipyard transformation and upgrading is not only a highlight of the shipbuilding industry, but also the spirit of Shanghai implement eighteen, to promote the " four centers" , the implementation of innovation-driven, transformation and development of the typical case. As industry to promote the department's leadership in Shanghai, the COSCO Shipyard Group and Shanghai COSCO shipping company to express my sincere congratulations and thanks! Petrobras representatives and ECOVIX representatives praised COSCO Shipyard Group and Shanghai COSCO Shipyard project management, design, construction, HSE, QC and service work to a high standard successfully delivered on schedule according to quality. Petrobras FPSO construction supervision team manager BELLAS President said in his speech: " Today, I still remember, when I first entered the Shanghai COSCO Shipyard workshop, I could not help feeling: this shipyard is small, however, COSCO an employee has used English said to me: 'We are small, but we are small but fine.' success today confirmed the words of the staff who is right this moment, the successful delivery of the module, means that we From start to now several months of effort is worth it. " Simultaneous expression with Shanghai COSCO Shipyard strong desire to continue to expand cooperation. Shanghai general manager of COSCO Shipyard Liu Yuguo of the Brazilian oil and ECOVIX groups and related site construction management, design personnel, ABS plan approval experts and surveyors who maritime authorities, COSCO Group and COSCO Shipyard Group leaders, operational headquarters and technology centers and other functional departments, Brothers, Singapore experts, all the staff, advisory group in Brazil, the Shanghai municipal government and various commissions to express my sincere gratitude and hope to work together as " COSCO Changxing" to make new and greater contributions!
Hi Samson,
I would appreciate if you could just summarised the article posted in English, Sorry I do not read Chinese. Thank you.
samson ( Date: 07-Aug-2013 12:17) Posted:
舟 山 中 远 船 务 首 制 152000吨 穿 梭 油 轮 开 工
阅 读 次 数 ： 91 发 布 日 期 ： 2013-8-6
8月 5日 ， 舟 山 中 远 船 务 为 挪 威 KNUTSEN SHUTTLE TANKER 19 AS建 造 的 首 制 船 152000吨 穿 梭 油 轮 在 开 工 ， DNV代 表 Mr. Edgardo CRISTOBAL应 邀 出 席 开 工 仪 式 ， 船 东 驻 厂 经 理 马 振 清 按 下 按 钮 启 动 切 割 机 ， 公 司 相 关 部 门 领 导 和 项 目 组 成 员 参 加 开 工 仪 式 。 （ 胡 金 鑫 ）
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舟 山 中 远 船 务 首 制 152000吨 穿 梭 油 轮 开 工
阅 读 次 数 ： 91 发 布 日 期 ： 2013-8-6
8月 5日 ， 舟 山 中 远 船 务 为 挪 威 KNUTSEN SHUTTLE TANKER 19 AS建 造 的 首 制 船 152000吨 穿 梭 油 轮 在 开 工 ， DNV代 表 Mr. Edgardo CRISTOBAL应 邀 出 席 开 工 仪 式 ， 船 东 驻 厂 经 理 马 振 清 按 下 按 钮 启 动 切 割 机 ， 公 司 相 关 部 门 领 导 和 项 目 组 成 员 参 加 开 工 仪 式 。 （ 胡 金 鑫 ）
广 东 中 远 船 务 海 洋 辅 助 钻 井 船 直 升 机 平 台 整 体 吊 装 完 成
阅 读 次 数 ： 11 发 布 日 期 ： 2013-8-7
8月 4日 ， 广 东 中 远 船 务 为 新 加 坡 Energy Drilling 公 司 建 造 的 海 洋 辅 助 钻 井 驳 船 （ N490） 直 升 机 平 台 吊 装 完 毕 。
该 船 总 长 100M， 型 宽 30M， 工 作 水 深 20-2000米 ， 具 有 可 容 纳 170人 的 生 活 区 ， 包 括 一 套 钻 井 设 备 以 及 发 电 机 组 、 甲 板 吊 车 、 系 泊 设 备 等 服 务 系 统 ， 目 前 各 项 施 工 正 有 序 推 进 。 （ 执 子 ）
Good lower means higher profit next year :)
Next year and 2015 good years for Cosco Singapore investor. Profit Profit Profit.
Flyordie ( Date: 06-Aug-2013 00:07) Posted:
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Low and lower.....
From: SinoShip NewsDate : 2013-8-5 10:34:43
船 舶 业 迎 转 型 升 级 方 案 利 于 行 业 走 出 低 谷
核 心 提 示 ： 短 期 对 上 市 公 司 业 绩 的 利 好 程 度 视 具 体 细 则 、 门 槛 条 件 昨 日 ， 国 务 院 公 布 了 《 船 舶 工 业 加 快 结 构 调 整 促 进 转 型 升 级 实 施 方 案 （ 2013~2015年 ） 》 （ 以 下 称 “方 案 ”） ， 方 案 明 确 了 今 后 3年 船 舶 工 业 结 构 调 整 和 转 型 升 级 的 主 要 任 务 ， 对 一 直 低 迷 渴 求 政 策 支 持 的 船 市 来 说 ， 无 疑 为 注 入 了 强 心 剂 。 方 案 明 确 了 今 后 3年 船 舶 工 业 结 构 调 整 和 转 型 升 级 的 主 要 任 务 ， 要 开 展 船 舶 和 海 洋 工 程 装 备 关 键 技 术 攻 关 ， “十 二 五 ”后 三 年 ， 高 技 术 船 舶 、 海 洋 工 程 装 备
短 期 对 上 市 公 司 业 绩 的 利 好 程 度 视 具 体 细 则 、 门 槛 条 件
昨 日 ， 国 务 院 公 布 了 《 船 舶 工 业 加 快 结 构 调 整 促 进 转 型 升 级 实 施 方 案 （ 2013~2015年 ） 》 （ 以 下 称 “方 案 ”） ， 方 案 明 确 了 今 后 3年 船 舶 工 业 结 构 调 整 和 转 型 升 级 的 主 要 任 务 ， 对 一 直 低 迷 渴 求 政 策 支 持 的 船 市 来 说 ， 无 疑 为 注 入 了 强 心 剂 。
方 案 明 确 了 今 后 3年 船 舶 工 业 结 构 调 整 和 转 型 升 级 的 主 要 任 务 ， 要 开 展 船 舶 和 海 洋 工 程 装 备 关 键 技 术 攻 关 ， “十 二 五 ”后 三 年 ， 高 技 术 船 舶 、 海 洋 工 程 装 备 主 要 产 品 国 际 市 场 占 有 率 分 别 达 到 25%和 20%以 上 ， 发 展 具 有 国 际 竞 争 力 的 船 舶 企 业 集 团 。
此 次 方 案 也 提 出 严 格 控 制 新 增 产 能 ， 清 理 整 顿 违 规 建 设 项 目 。
还 需 具 体 方 案 真 正 “落 地 ”
该 方 案 公 布 后 ， 业 内 普 遍 称 在 预 期 中 。 熔 安 动 力 机 械 有 限 公 司 副 总 裁 徐 文 友 表 示 ， 此 次 政 策 还 只 是 行 业 “整 合 、 升 级 、 创 新 ”的 指 导 意 见 。
事 实 上 ， 在 国 内 船 市 低 迷 之 际 很 多 船 企 已 经 开 始 转 型 突 围 。 昨 日 ， 广 东 中 远 船 务 人 士 对 记 者 表 示 ， 公 司 从 之 前 单 一 的 修 船 业 务 开 拓 造 船 业 务 ， 避 开 了 运 力 过 剩 集 中 的 散 货 船 、 集 装 箱 船 、 油 船 等 项 目 ， 目 前 重 点 培 养 海 洋 工 程 船 舶 项 目 。
昨 日 有 船 企 市 场 部 人 士 透 露 称 ， 目 前 船 舶 业 的 扶 持 政 策 部 分 并 没 有 真 正 “落 地 ”， 比 如 具 体 的 实 施 细 则 等 ， 而 且 力 度 上 也 远 远 不 够 ， “公 司 的 高 附 加 值 船 型 补 贴 只 有 几 百 万 元 ， 更 多 的 是 要 靠 自 己 争 取 订 单 。 ”银 河 期 货 首 席 宏 观 经 济 顾 问 付 鹏 表 示 ， 国 内 造 船 企 业 应 该 减 少 干 散 货 船 的 产 能 ， 投 入 更 多 精 力 在 海 洋 平 台 专 业 船 只 。
上 述 人 士 表 示 ， 行 业 扶 持 政 策 落 地 ， 兼 并 重 组 整 合 产 能 后 龙 头 企 业 市 场 集 中 度 提 高 ， 订 单 量 也 有 望 提 升 ， 而 一 些 中 小 船 企 则 是 特 别 需 要 补 贴 、 税 收 等 方 面 的 支 持 。
资 本 市 场 ：
刺 激 订 单 利 于 行 业 走 出 低 谷
此 次 方 案 进 一 步 指 明 了 上 市 公 司 发 展 新 船 的 方 向 ， 船 舶 更 新 换 代 也 将 刺 激 企 业 订 单 增 长 。
有 券 商 人 士 指 出 ， 方 案 长 期 看 对 船 舶 行 业 走 出 低 谷 是 个 利 好 ， 政 策 的 利 好 程 度 具 体 还 要 看 设 置 的 门 槛 条 件 ， 比 如 订 购 数 量 、 船 舶 大 小 、 船 籍 、 船 龄 以 及 拆 解 时 间 等 等 。 如 老 旧 船 补 贴 政 策 早 已 有 之 ， 只 不 过 申 请 补 贴 款 难 度 大 。
航 运 市 场 的 低 迷 拖 累 造 船 企 业 业 绩 不 振 ， 中 船 股 份 上 半 年 净 利 润 为 负 6152.43万 元 ， 上 海 佳 豪 上 半 年 净 利 润 同 比 降 82.87%.上 周 五 ， 市 场 有 消 息 称 ， 国 家 已 经 在 关 注 航 运 业 和 造 船 业 的 困 难 情 况 ， 部 分 航 运 和 造 船 业 扶 持 政 策 已 在 酝 酿 之 中 ， 船 舶 股 反 弹 。
From: BloombergDate : 2013-8-5 9:42:15
China Issues Plan to Overhaul Troubled Shipbuilding Industry
China’s State Council issued a three-year plan to upgrade and restructure its troubled shipbuilding industry through 2015, a further move to stabilize economic growth through reform, the official Xinhua News Agency reported.
The sector faces “unprecedented, severe challenges” as a lack of new orders, due to weakness in the global shipping market, has exacerbated overcapacity in the industry, Xinhua said today, citing a government document. At the same time, companies should be confident as “the potential in the domestic market remains relatively large.”
China, the world’s biggest shipbuilding nation, may see a third of its more than 1,600 yards shut down in about five years, according to Wang Jinlian, head of the industry association. The sector is among those including iron and steel, cement, electrolytic aluminum and flat glass that must accelerate the phasing out of overcapacity, according to a July 24 statement from the Ministry of Industry and Information Technology.
China Rongsheng Heavy Industries Group Holdings Ltd. (1101), the largest shipbuilder outside state control by order book, warned last month it made a net loss in the first half and said it was seeking financial support from the government and shareholders after a plunge in orders strained cash flow. The company said July 31 it agreed to issue convertible bonds to raise a net HK$1.38 billion ($178 million) for working capital and to support the development of its offshore engineering business.
Control Capacity
The main focus of the State Council plan will be on accelerating innovation, strictly controlling new capacity, promoting high-end products and stabilizing the industry’s international market share with greater funding support, Xinhua said. Local authorities and agencies should formulate supporting policies and ensure the timely completion of targets, Xinhua said, without providing any specific goals or a timetable.
The new program is in line with a 2009 blueprint that focused on efforts to revitalize the shipbuilding industry for the three years through 2011, according to Xinhua. Under the government’s current five-year economic plan that runs through 2015, targets for the sector include upgrading shipbuilding standards and developing higher value-added
products.
The combined profits of 80 major shipbuilders monitored by the Chinese Association of the National Shipbuilding Industry fell 54 percent in the first half of the year to 3.58 billion yuan ($584 million), the China Daily reported on July 24.
About 464 shipyards in China won 18.7 million deadweight tons of orders worth $14.3 billion last year, the lowest since 2004, according to Clarkson Plc (CKN), the world’s biggest shipbroker. That compares with contracts for 14.6 million tons worth $29.6 billion received by 88 yards in South Korea, the world’s second-biggest shipbuilding nation.
中 远 船 务 接 获 中 海 油 服 深 水 工 作 船 订 单
阅 读 次 数 ： 117 发 布 日 期 ： 2013-8-5
日 前 ， 中 远 船 务 承 接 的 中 海 油 田 服 务 股 份 有 限 公 司 两 艘 9000HP供 应 船 和 两 艘 8000HP三 用 工 作 船 的 建 造 合 同 正 式 生 效 。
此 建 造 合 同 的 签 订 和 生 效 ， 是 中 远 船 务 与 中 海 油 在 海 洋 工 作 船 舶 整 体 建 造 项 目 上 的 零 的 突 破 ， 标 志 着 双 方 在 战 略 合 作 方 面 迈 出 了 历 史 性 的 一 步 。 此 次 签 约 的 两 型 四 艘 深 水 工 作 船 ， 将 由 中 远 船 务 所 属 大 连 中 远 船 务 和 广 东 中 远 船 务 完 全 自 主 设 计 并 建 造 ， 建 成 后 将 进 一 步 提 升 中 海 油 在 深 水 油 气 作 业 的 能 力 。 此 前 ， 中 远 船 务 与 中 海 油 的 合 作 一 直 局 限 于 修 理 改 装 工 程 和 部 分 海 工 项 目 的 分 承 包 。 上 世 纪 九 十 年 代 ， 大 连 船 务 曾 经 为 中 海 油 北 方 钻 井 公 司 修 理 过 自 升 式 钻 井 平 台 ， 2004年 承 接 过 “南 海 开 拓 ”FPSO改 装 ； 近 年 来 广 东 船 务 也 为 中 海 油 服 修 理 过 海 洋 工 程 船 。
深 水 工 作 船 主 要 为 深 水 和 一 般 水 域 的 海 洋 石 油 平 台 运 送 生 产 物 料 并 提 供 救 助 、 守 护 等 服 务 ， 与 其 他 同 类 船 型 相 比 ， 该 船 型 具 有 灵 活 性 强 、 载 重 量 大 、 经 济 性 好 、 方 便 在 近 海 码 头 补 给 等 特 点 ， 是 我 国 油 气 行 业 进 军 深 海 的 主 力 服 务 船 型 。 （ 柳 宏 ）
I believe it will support well at 0.70-0.71.
Accumulate like assorted Durians now NOL, Yzj and Cosco Singapore and wait till during drop then can eat.
nqing87 ( Date: 03-Aug-2013 12:04) Posted:
accumulate for really long term for those interested in it.. i believe cosco wont collapse, but will need some time to go back up
New123 ( Date: 03-Aug-2013 11:51) Posted:
| with all the bad news. think is gd time to accumulate..
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accumulate for really long term for those interested in it.. i believe cosco wont collapse, but will need some time to go back up
New123 ( Date: 03-Aug-2013 11:51) Posted:
| with all the bad news. think is gd time to accumulate..
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with all the bad news. think is gd time to accumulate..
in my opinion, even if they have large order book, if they cannot translate them to profit, not much use.. doesnt mean huge order book always means higher profit due to economies of scale etc.. huge order book also could mean the need to hire more people to get the order done.. we wouldnt know if they are getting orders at a price sufficient enough to make profits.. it's like night market sellers selling things cheaply and makes lots of revenue, but didnt actually earn much profits and could be selling at lower than cost price too just to get competitive with other sellers.. problem with those shipyards selling their ships as cheaply as possible and focussing on getting many orders is that they are likely not improving their ship designs, because there is no incentive to do so.. their focus is to sell as many ships as possible cheaply & that's their niche area, where clients are willing to accept cheap stuff.. u will need to manage higher cost to set up a team to improve vessel designs.. couldnt compare with other " atas" shipyards who have been selling at a higher profit margin and higher price than cosco, 'cos their way of selling things is to convince their buyers that their ships have better design & higher quality than those cheap ones and are unique in the field they service.. so they are more likely have the opportunity to improve their design with R& D than cosco.. lastly, in the event if cosco do manage to get higher profit margin from higher order book, if investors doesnt see it, no point ranting and grumbling, as there are a lot of stocks that have low p/e ratio but doesnt go up.. alot investors dont do their homework in detail, and got to know about a stock if it suddenly has high volume, that is when people start to speculate to push up price..
Hawkeye ( Date: 03-Aug-2013 09:40) Posted:
Cosco is now going on a spree to capture its share (large share) of Offshore market. They are now affecting Sembcorp Marine, Vard and others. Once they have a large share of the Offshore market, soon Cosco order book is 14billion instead of Sembcorp Marine. At the moment Cosco is successfully achieving it without having lossess unlike Vard yard in Brazil which price is too low that Brazillian workers and subcontractors are not willing to work and Vietnam yard which could not get orders.
CIMB says So What? - Once Cosco has large share of Offshore order book, they have much opportunity to further improve its profit margin, improve its design and anchor itself to be the prime Offshore structures manufacturer. Quantity brings economy of scale, experience and improvement in mass production. Like America has improved its Shipbuilding due to WWII constructing the Liberty Ship, turnover 7 days pership. CIMB expect Cosco to get 2billion orders for 2013, now Cosco Singapore order book to date 2013 is about 2billion already.
So what is it for a Investor. - once order book ramp up, profit although tight margin will also increase in multiplication
pasttime ( Date: 02-Aug-2013 13:50) Posted:
always got different view, estimate of profit and number of x pe to pay. that is why got sellers got buyers ma.
one point not commonly talk about is the residual value of these yards. they own land facing sea which can be converted to house when they do not need the yard any more.
for now those yard with lots of money standby, able to innovate for more fuel efficient, larger size ship, will probably survive. after that competition should return to normal with many weaker yards gone.
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