Keppel
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keppel Corp
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I notice that world number one oil speculator keppel corp recent new orders came at CHEAP prices. keppel corp might constraint orders for more contracts due to congested yard size and increasing workforce (those newly upgrade citizens).
In simple terms, one bowl of porridge has to feed so many mouths, seems not to be easy. dyna mac most likely be affected by discount contract offer..
Oil (spot price) dips almost $3.00 today, kpc likely to be affected by this and bring dyna mac along. This new contract (thur) which was reported timely could do nothings at all.
sinetic8 ( Date: 10-Mar-2011 23:22) Posted:
djia drop so much atm, lets see all the fearsome ppl throw this and let the BB accumulate them again.
krisluke ( Date: 10-Mar-2011 22:49) Posted:
| impressive flow of new OIL related contracts. |
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djia drop so much atm, lets see all the fearsome ppl throw this and let the BB accumulate them again.
krisluke ( Date: 10-Mar-2011 22:49) Posted:
| impressive flow of new OIL related contracts. |
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impressive flow of new OIL related contracts.
Singapore’s Keppel Corp, the world’s largest oil rig builder, said on Thursday its shipyard unit has clinched two projects worth a total of $170 million.
The contracts comprise completing a pipe-laying vessel for Saipem S.p.A and converting a floating, storage and offloading (FSO) vessel for Bumi Armada Bhd that will be deployed off Vietnam.
Keppel Corp: Secures a US$195m rig contract from Mexico's Perforadora Central, with delivery scheduled for 1Q13. This contract, based on the LeTourneau Super 11E design, marks the 3rd newbuild jackup rig that Keppel is building for Perforadora, and comes with a price tag ~US$5m higher than the previous LeTourneau delivered in 2010.
Ytd, Keppel has won contracts to build 11 rigs, worth a total of $4b. Additionally, Keppel has granted options for 15 rigs which have yet to be exercised. Given that we are less than 3mths into the year, Keppel looks well placed to exceed Street forecasts of ~$7b worth of orders for FY11. Share price may re-rate upwards if order momentum continues, and the Street makes upward revision to estimates.
Post order win, DMG maintains at Buy with $13.94 TP.
Sold all KEP and some GLE today - A pretty good outting.
Holding light position. Cut loss a bit ... picked up a bit amid the sell down ... pretty interesting.
Someone showed a pic of a laughing monkey in GSP thread ~~ although it is meant as a sarcasm? it is so fun.
Jokes are so welcome.
Keppel Corp - Technical Analysis
Keppel Corp stock peaked out at 12.46 in late January. It violated the intermediate-term uptrend line on February 10. Price eventually found support at 11.04 two weeks ago. The stock then failed to overcome the broken trendline and backed off this resistance. Looking at the short-term technical picture, the bias is neutral within the range 11.04 to 11.86. A decisive breakout would provide a near-term directional clue. Clearing 11.86 on a closing basis would suggest a retest of the high at 12.46. A sustained breach below 11.04 would indicate a continued correction targeting 10.56 or 10.40. The overall technical bias remains constructive unless the latter support is broken.
/dbwarrants/for your reference only/
SINGAPORE, Feb 21 (Reuters) - UOB Kay Hian upgraded Keppel Corp , the world's largest oil rig builder, to buy from sell and raised its target price to S$13.00 from S$9.70.
STATEMENT: UOB said it raised its estimates for Keppel due to its strong order wins of S$3.7 billion in the first two months of the year, which have already surpassed 2010's total orders of S$3.2 billion. The brokerage now expects Keppel to win S$7 billion worth of contracts this year, up from its previous estimate of S$4 billion.
It has also raised its pre-tax margin assumptions for Keppel in 2012 and 2013 by 1.5 percentage point to 15 percent. Shares of Keppel were 1.4 percent lower at S$11.56 at 0237 GMT but have risen 2.1 percent so far this year. (Reporting by Charmian Kok)
Took profits, also to unload some since I am holding quite a bit what with those picking up in the recent dips.
The 'it' sector now but even as the brokerages recommended it they would advice to buy only when the prices go down.
one sleeping pill and lots of coffee it helps hehehehhe
then you better not buy...that is how to make it in stocks.
contracts after contracts.. I really think I should buy some more.
BUT the " devil" side of me telling me, be scared and wait for it to drop since STI is not doing well recently..
HOW? How you guys counter this kind of thoughts?
Jackpot2010 ( Date: 17-Feb-2011 16:20) Posted:
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Transocean Drilling - World's Largest offshore driller.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_EDA2D78125184DD6482578390080CB82/$file/KCL_Press_Release_170211.pdf?openelement
Press release
Keppel bags two-rig contract from Transocean worth US$380 million
The significance of the latest contract is not only that Transocean is the world’s largest offshore driller, it has also recently come out of the Deepwater Horizon disaster, the worst oil spillage which took place last April. Awarding such contracts to keppel at this time would greatly enhance the latter’s reputation.
Deepwater Horizon was an ultra-deepwater, dynamically positioned, semi-submersible offshore oil drilling rig owned by Transocean. On 20 April 2010, while drilling at the Macondo Prospect, an explosion on the rig caused by a blowout killed 11 crewmen and ignited a fireball visible from 35 miles away. The resulting fire could not be extinguished and, on 22 April 2010, Deepwater Horizon sank, leaving the well gushing at the sea floor and causing the largest offshore oil spill in United States history.
2011 YTD (48days) new orders secured
~US$4 BILLION > whole of 2010 US$3.2 Billion. Plus outstanding options of
~US$4 Billion not counted. Year 2011 will be Historical Record High. IF Petrobras success, then Px may hit
> S$15.oo, I guess!
KEPFELS Super B Class BigFoot.
Good blue chip. Order books overflowing wth new contracts will help offset slowdown in property division. Safe bet for the longer term. Plus div decent too.
Jackpot2010 ( Date: 16-Feb-2011 21:17) Posted:
DBSV (16 Feb): Today’s Focus
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Keppel Corp has secured orders to build 2 jackup rigs for Maersk Drilling worth close to US$1bn. The sustained demand for high-spec jackups favour Singapore yards given established track record. Our analyst expects more orders to come FY11 order wins assumption raised to S$7bn (ex-Petrobras) (prev S$4.5bn). On the back of the higher FY11F order wins assumption, earnings for FY11/12F is raised by 5%/11%.
Maintain BUY, with higher TP of S$14.63 (Prev S$ 13.55). Keppel Corp - FY11 order wins assumption raised to S$7bn. Maintain BUY with higher TP of S$14.63. |
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DBSV (16 Feb): Today’s Focus
� �
Keppel Corp has secured orders to build 2 jackup rigs for Maersk Drilling worth close to US$1bn. The sustained demand for high-spec jackups favour Singapore yards given established track record. Our analyst expects more orders to come FY11 order wins assumption raised to S$7bn (ex-Petrobras) (prev S$4.5bn). On the back of the higher FY11F order wins assumption, earnings for FY11/12F is raised by 5%/11%.
Maintain BUY, with higher TP of S$14.63 (Prev S$ 13.55).
Keppel Corp - FY11 order wins assumption raised to S$7bn. Maintain BUY with higher TP of S$14.63.
Keppel Corp. (BN4.SG) extends gains after it earlier announced an order from Maersk to build two jack-up rigs worth US$1 billion ($1.3 billion), its third order win in the last week the stock is +3.0% at $11.56 with 7.2 million shares traded.
“This latest contract follows a slew of offshore orders for the group. We believe the current price of crude oil at above US$100 per barrel will form the basis for many rig operators to give the go‐ ahead for their long‐ overdue capex plans. We therefore expect both Keppel and SembCorp Marine (S51.SG) to be beneficiaries of this,” says Kim Eng, which has a Buy recommendation and a $13.05 target price.
SembMarine is flat at $5.13. Morgan Stanley says order momentum can help to close the valuation gap between the two rig builders. It notes Keppel’s O& M stub P/E of 12X trails Sembcorp Marine’s 17X by 30% vs a 12% historical discount: “We continue to see Keppel as attractively valued and reiterate our Overweight rating.”
Keppel Corp: extends recent order momentum wins US$1b (S$1.25b) order for 2 harsh environment jackups (Gusto CJ70), that comes with 1 additional option (unknown jackup specs). The rigs, expected to be delivered in 4Q13 and 3Q14 rptively, are especially suited for operation in the North Sea...
Ytd, Keppel has garnered new orders of ~S$3.2b, and has options to build another 12 rigs worth about the same amount. At current run rates, Keppel appears on track to hit Street forecasts for FY11 new orders of S$5.1 - 7.0 b. This compares to the record S$7.4b worth of orders that Keppel won in FY07...
Also, the latest order reverts to the traditional milestone payments instead of the recent 20/80 terms. The improving yard payment terms may be a sign of potential rig pricing hikes. Meanwhile, analyst channel checks indicate more orders ahead for Keppel, though the pace of order wins may slow in the near-term. Recall Maersk previously indicated it aims to order a new rig every 6mths, and has a long term target to double its fleet from the current 26 rigs...
The Street unanimously reiterates Buy call. Goldman raises TP to $14 from $13.50.
Keppel Corp - Technical Analysis
Keppel Corp recently violated the intermediate-term uptrend line near 11.56 and then a longer-term internal trendline, horizontal support at 11.24 and the 50-day moving average. The stock finally found support at 11.04 last Thursday and held this level the following two sessions. A move above Friday's high at 11.44 could trigger extended recovery towards 11.58/11.70. A decisive close above 11.70 would be bullish and signal a retest of the peak at 12.46. Violation of last week's low at 11.04 on the other hand would imply immediate resumption of the correction towards 10.56 or 10.40. The overall technical bias remains constructive unless the latter support is broken.
/dbwarrants/
so simple in design. Worths USD 0.65B per J.R ? ??
