Vard   

Vard Holdings

Reject STX OSV Offer At $1.22

WanSiTong      ( Date: 25-Jul-2013 05:12) Posted: Same old story posted on SJ before !!? teeth53      ( Date: 24-Jul-2013 23:56) Posted: Hawkeye senior, thk for d posting.  This why Vard go down for, VARD affected by Brazil yards

 

Tis problem has been on going fr sometimes aredi. Cosco no worry cos got china ah kong to support.

Hawkeye      ( Date: 24-Jul-2013 23:57) Posted: Vard problem is overcost means still loosing much money in Brazil yard. Still not resolve yet. They are not Chinese yard, Chinese yard just need orders to make money. Vard manpower and overcost means more orders loose more money. The yard in Brazil do affect the whole company profitability. How much don't know. So Cosco and Yangzijiang better - just get orders. Watching Vard how low it can go then buy in later. Expect it may go to 50cts if problem not solved. That is why fund managers dump like rain. newbie888      ( Date: 24-Jul-2013 23:48) Posted: ooOoo...rsi made a U-turn...is the dust going to fly again....

 

Fri I will try to go Vard Office again, it was very strange no light was on too!
All have a great day!!!

Peter_Pan      ( Date: 24-Jul-2013 13:37) Posted: Run road liao... GorgeousOng      ( Date: 24-Jul-2013 13:30) Posted: I just went to Vard office ....the door was locked... Hahaha! No one was in the office ... May be busy preparing announcement !!!

 

Same old story posted on SJ before !!?

teeth53      ( Date: 24-Jul-2013 23:56) Posted: Hawkeye senior, thk for d posting.  This why Vard go down for, VARD affected by Brazil yards

 

but I thk having more orders may be able to boost some confidence as they have yards in other areas other than brazil right?

Hawkeye      ( Date: 24-Jul-2013 23:57) Posted: Vard problem is overcost means still loosing much money in Brazil yard. Still not resolve yet. They are not Chinese yard, Chinese yard just need orders to make money. Vard manpower and overcost means more orders loose more money. The yard in Brazil do affect the whole company profitability. How much don't know. So Cosco and Yangzijiang better - just get orders. Watching Vard how low it can go then buy in later. Expect it may go to 50cts if problem not solved. That is why fund managers dump like rain. newbie888      ( Date: 24-Jul-2013 23:48) Posted: ooOoo...rsi made a U-turn...is the dust going to fly again....

 

Vard problem is overcost means still loosing much money in Brazil yard. Still not resolve yet. They are not Chinese yard, Chinese yard just need orders to make money. Vard manpower and overcost means more orders loose more money. The yard in Brazil do affect the whole company profitability.

How much don't know.

So Cosco and Yangzijiang better - just get orders.

Watching Vard how low it can go then buy in later. Expect it may go to 50cts if problem not solved. That is why fund managers dump like rain.

newbie888      ( Date: 24-Jul-2013 23:48) Posted: ooOoo...rsi made a U-turn...is the dust going to fly again....

 

Hawkeye senior, thk for d posting. 

This why Vard go down for,

VARD affected by Brazil yards

 

ooOoo...rsi made a U-turn...is the dust going to fly again....

 

They are watching.............*wind blowing in the background*

TinyPotato      ( Date: 24-Jul-2013 18:52) Posted: Agreed. Spooky counter. Don't promote too much. haha SFGuyRuleZ      ( Date: 24-Jul-2013 17:16) Posted: Black/white harami followed by white/ white harami contained within the same black body. Seems like a volcano is going to erupt soon. " You know I know" may have to take cover soon.. Just a passing thought and my own opinion. Later the counter proves me wrong again. Better not say more..

 

Agreed. Spooky counter. Don't promote too much. haha

SFGuyRuleZ      ( Date: 24-Jul-2013 17:16) Posted: Black/white harami followed by white/ white harami contained within the same black body. Seems like a volcano is going to erupt soon. " You know I know" may have to take cover soon.. Just a passing thought and my own opinion. Later the counter proves me wrong again. Better not say more..

 

This why Vard go down for,

VARD affected by Brazil yards

The Board of Vard Holdings Limited (the " Company" and together with its subsidiaries, the “Group”) wishes to make reference to the 1Q 2013 financial results announcement for the period ended 31 March 2013, announced on 14 May 2013, where the Board mentioned that operations in Brazil are expected to continue to affect group performance negatively until delivery of the last vessel in the current order book of the Niterói shipyard. While the Company remains confident in the long-term potential of the Brazilian market, the overall industrial context in Brazil is still challenging, being characterized by high personnel turnover and very high pressure in the subcontracting market. As a consequence, based on a revised assessment of the status of operations in Brazil, it is expected that financial results for the period ending 30 June 2013 (“2Q 2013”) will be lower than the current consensus market estimates. Margins are impacted by further delays and cost overruns at the Niterói yard due to lower productivity than expected, additional costs for outsourcing of hull construction activities to subcontractors, and revisions to the estimates of start-up costs at the new shipyard, Vard Promar. Stabilizing the Niterói operations and successfully ramping up the new yard are a top priority for the Group, and management has initiated mitigating actions in order to regain profitability in Brazil. The opening of the new yard represents a milestone for the Company’s presence in Brazil, offering opportunities for growth, better operational stability, and a substantially improved cost position. Operations elsewhere in the Group are stable, and the Company as a whole remains profitable. A complete overview of Group’s performance will be disclosed when the Company finalizes and announces the unaudited results for 2Q 2013 on 11 July 2013. Published : July 2, 2013

 

Vard, Positive Outlook in 2H

Singapore, 11 July 2013 – Vard Holdings Limited (“VARD”), together with its subsidiaries (the “Group”), one of the major global designers and shipbuilders of offshore and specialized vessels, announced its results for the second quarter of financial year 2013 (“2Q 2013”) and first half ended 30 June 2013 (“1H 2013”). Financial and Operating Review VARD generated revenue of NOK 2,945 million for 2Q 2013, representing an 11.7% decrease from the same period in 2012. First-half revenues of NOK 5,692 were down 7.4% compared to the same period in 2012. Operating profit for the half year ended 30 June 2013 was NOK 295 million, down from NOK 793 million in the corresponding period of 2012. EBITDA margin (EBITDA to total revenue) for 2Q 2013 declined from 13.8% in 2Q 2012 to 4.1% as a result of further delays and cost overruns at the Niterói yard, and high pre-operational expenses at the new yard Vard Promar. EBITDA margin for the half year ended 30 June 2013 stands at 7.5%. Operations elsewhere in the Group are not affected by the challenges in Brazil. VARD witnessed the deliveries of seven successful projects, including prototype vessels and projects with very short lead times, from the Norwegian yards. Several major investments in Tulcea, Romania, are scheduled for completion in 3Q 2013, giving an excellent platform for future competitiveness. Workload in Romania remains high, while yard utilization in Vietnam is at sub-optimal level following the delivery of the second-to-last vessel in the order book. Operations of the Company as a whole remain profitable for the year to date despite the negative results for the second quarter of 2013. The Group’s cash and cash equivalents stood at a healthy NOK 2,040 million as at 30 June 2013. Orders, deliveries and new contracts In 2Q 2013, three new vessel contracts were secured, including one offshore support vessel for Island Offshore, one PSV for Simon Møkster Shipping and one Offshore Tug for Buksér og Berging, accounting for the quarter’s order intake of NOK 1.2 billion. While the order intake in the second quarter consisted of highly specialized, but smaller vessels, the average value per vessel contracted is expected to grow in the second half of 2013. Taking into account the eight vessels delivered during the quarter, VARD’s order book comprised 41 vessels as at 30 June 2013. More than half, or 22 of these vessels in the order book, will be of VARD’s own design. Total order book value stood at NOK 14 billion. Positive outlook for new order wins in 2H 2013 VARD is confident about the prospects for new orders for the remainder of 2H 2013. As an increasing volume of subsea work translates into big backlogs for subsea contractors, there is a growing need for modern vessels to support such work. VARD continues to work with clients on sizeable opportunities in the subsea support and construction segment. Increased exploration and rig activities are expected to drive new demand for support vessels. Published : July 15, 2013

 

STX promises fast normalization Kang Duk-Soo, Chairman of STX Group, had a meeting with heads of STX Offshore & Shipbuilding's major cooperative companies (STX Members) on July 12 and revealed that the company will make an utmost effort to normalize collaborative companies, which are having a difficult time by STX affiliates demanding creditor group's liquidity support. During the meeting, present by heads of 18 STX Members, board of directors from STX Shipbuilding & Offshore, STX Engine, STX Heavy Industries, Chairman Kang said " I truly apologize for giving damages and discouragement to collaborative companies which have been dependent on STX Group and grown together by our group's management crisis." And added " Fortunately, our creditor's group led by Korea Development Bank had decided to support us, as well as local government and local community started to give warm support, every member of STX Group will do our best for early management stabilization of STX and our partner companies." Moreover, Kang also appreciated creditor's group which works hard to normalize the group under a difficult management environment and STX's collaborative companies which give strong support for STX. After the meeting, Mr. Kang made a site visit of the yard and had a time to listen to difficulties and problems of staffs from the yard and cooperative companies and encouraged them Published : July 15, 2013

 

Black/white harami followed by white/ white harami contained within the same black body. Seems like a volcano is going to erupt soon. " You know I know" may have to take cover soon.. Just a passing thought and my own opinion. Later the counter proves me wrong again. Better not say more..

 

Whole day 1-2 lotters $0.785 vs 1-2 lotters $0.790. Zzzzzzz

TinyPotato      ( Date: 24-Jul-2013 11:20) Posted: Seems like " someone" is accumulating at $0.785 since morning... holding well so far .. fingers & toes cross !!

 

It is a decision one got to make himself weighing  those  biased and unbiased  comments.

Peter_Pan      ( Date: 24-Jul-2013 14:49) Posted: Question is...will you short this counter at current price? jacelin84      ( Date: 24-Jul-2013 14:34) Posted: Their business has been cannibalized by Chinese yards.Even Jaya also build offshore supply vessels and have them refurished in Batam,Indonesia.The Chinese offfers a faction of what Vard or European yards are offering.

 

Relax...storm calming down

 

Question is...will you short this counter at current price?

jacelin84      ( Date: 24-Jul-2013 14:34) Posted: Their business has been cannibalized by Chinese yards.Even Jaya also build offshore supply vessels and have them refurished in Batam,Indonesia.The Chinese offfers a faction of what Vard or European yards are offering.

 

Their business has been cannibalized by Chinese yards.Even Jaya also build offshore supply vessels and have them refurished in Batam,Indonesia.The Chinese offfers a faction of what Vard or European yards are offering.