Seatrium (formerly known as SembMarine)

Re: Sembcorp Marine

Postby kennynah » Wed Sep 10, 2008 11:22 pm

so...their losses on fx trades that occurred late last year, that resulted in the finance personnel getting the sack? swept under carpet or they paid up and done with ?
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Re: Sembcorp Marine

Postby LenaHuat » Thu Sep 11, 2008 9:18 am

Legal tussle pending b4 the Court.
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Re: Sembcorp Marine

Postby millionairemind » Thu Sep 11, 2008 10:07 pm

Sembcorp Marine Secures $99m Contract From Petroserv
Sembawang Shipyard, a wholly-owned subsidiary of Sembcorp Marine, has secured a $99 million contract from Dynamic Producer to convert a 111,567 dwt tanker into a DP Floating, Drilling, Production, Storage and Offloading (FDPSO) vessel. Dynamic Producer is part of the Petroserv S.A. Company Group, a leading offshore service company based in Brazil. The vessel is expected to be delivered in 4Q09.
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Re: Sembcorp Marine

Postby millionairemind » Thu Sep 18, 2008 7:43 am

Published September 18, 2008
SembMarine unit wins US$229m Sinopec contract
Chinese firm's first rig to be built outside China set for delivery in 2011

By VINCENT WEE

SEMBCORP Marine (SembMarine) unit PPL Shipyard has won a US$229 million contract from a subsidiary of China oil major Sinopec Corporation.

Standing tall: The Pacific Class 375 rig remains one of PPL's most popular designs with 27 orders so far
The contract, which came from Sinopec International (HK), is for the construction of a jackup rig, Sinopec Corporation's first to be built outside China and which could pave the way for more deals in the future from the group.

The Pacific Class 375 rig to be built is scheduled for delivery in the first quarter of 2011, and will be owned and operated by Sinopec Corporation unit Shanghai Offshore Petroleum Bureau. Sinopec Corporation, formally known as China Petroleum & Chemical Corporation, is one of China's leading oil exploration companies with oil and gas blocks and 364 exploration licences in 26 provinces in eastern, western and southern China as well as shares in projects from Russia to Saudi Arabia.

The high performance jackup rig will be built based on PPL Shipyard's proprietary Pacific Class 375 design and proprietary components. It will be equipped to drill high-pressure and high-temperature wells at 30,000 feet while operating in 375 feet of water and will have accommodation for 120 crew.

The Pacific Class 375 rig remains one of PPL's most popular designs. So far, 27 rigs have been ordered with 13 units delivered and 14 units currently under various stages of construction with deliveries till 2011. The most recent contract, which SembMarine announced earlier this month, was for two of these rigs for US$425 million.

'We are pleased that Sinopec International (HK) has chosen PPL Shipyard to place its first jack-up rig order. This is significant as it will be the first jackup drilling rig to be constructed outside China for China Petroleum and Chemical Corporation. We are delighted to be part of this milestone,' said PPL senior general manager Tan Kim Yung.

This contract is not expected to have any material impact on the net tangible assets and earnings per share of SembMarine for the year ending Dec 31, 2008. SembMarine stock closed four cents lower at $3.15 yesterday.
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Re: Sembcorp Marine

Postby winston » Tue Sep 30, 2008 9:37 am

AAR ( or actually lack of action ):-

Sembmarine was down 23% for just a few minutes this morning. I did not take action. And it is now down 8.9%..

When an opportunity comes and if you hesitate, you will miss the opportunity..

The thing going thru my head was:-
1) Why are people selling it ?
2) Do they know something I don't ?
blah, blah, noise, noise ...
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Sembcorp Marine

Postby winston » Mon Oct 13, 2008 4:24 pm

Does it make sense for this counter to be up 22% today ?
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Sembcorp Marine

Postby winston » Wed Oct 15, 2008 8:50 am

Not vested.

RESEARCH ALERT-Citi downgrades Sembcorp, cuts Keppel target

SINGAPORE, Oct 15 (Reuters) - Citigroup has downgraded oil rig builder Sembcorp Marine to "hold" from "buy" and cut the target price to S$2.85 from S$4.95, citing weaker prospects and lower valuation for the firm's 30 percent stake in China's Cosco Shipyard.

"Prospects will likely be weakened by negative news flow from legacy orders by weaker customers," Citi analysts Horng Han Low and Rigan Wong wrote in a report.
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Re: Sembcorp Marine

Postby iam802 » Mon Oct 20, 2008 5:27 pm

Sembcorp Marine is pleased to announce that the third quarter 2008 financial results will be released on 4 November 2008 (Tues) after trading hours.
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Re: Sembcorp Marine

Postby iam802 » Tue Oct 21, 2008 12:50 pm

SEMBCORP MARINE SECURES LNG CARRIER LONGEVITY CONTRACT FROM INTERNATIONAL GAS TRANSPORTATION COMPANY LIMITED

http://info.sgx.com/webcorannc.nsf/ef3b ... enDocument

......
With the signing of this contract, Northwest Sanderling, the first of 6 Moss-Rosenberg type LNG carriers from IGTC, is scheduled to undergo life extension/longevity work and upgrading programme in Sembcorp Marine’s Sembawang Shipyard at an estimated cost of S$35 million in June 2009.

However, this contract is not expected to have any material impact on the net tangible assets and earnings per share of Sembcorp Marine for the year ending December 31, 2008.
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Re: Sembcorp Marine

Postby winston » Tue Nov 04, 2008 6:43 pm

Sembcorp Marine Q3 net jumps 73%

SINGAPORE - Sembcorp Marine, the world's number two builder of offshore oil rigs, said on Tuesday its third-quarter net profit rose 73 per cent as it worked through its large backlog of orders and recorded higher margins.

The firm said it expects ship repair demand to remain strong amid global tightness in yard capacity.

'The Group is in a strong net cash and balance sheet position and expects the current year's overall performance to be stronger than 2007,' the firm said in a statement.

Sembcorp Marine earned S$140.9 million (US$95 million) in the three months to September compared with S$81.4 million a year earlier.

The Singapore company said its order book stood at S$9.9 billion at the end of the third quarter, including S$5.5 billion of new orders since January this year.
Sembcorp Marine's large orderbook will ensure its yards remain busy until 2012. -- REUTERS
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