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Latest Forum Topics / Seatrium    Last:0.091 --  Post Reply
SembCorp Marine- The new Frontier.
chart_expert123
Master
21-Oct-2021 22:33     
 
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Yells: "Only buy stock with revenue or net cash flow growth!!!!"
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 Alert Admin 		In case, you missed out my early posts here is solitaire case.happen in 1997 end in 2006. It was very famous in the industry.

https://www.offshore-mag.com/rigs-vessels/article/16792680/sembcorp-to-pay-allseas-vessel-compensation

(Asia-Pacific) - SembCorp Industries has agreed to pay $424.8 million to Swiss group Allseas to settle more than a 10-year old dispute over the conversion of a vessel into a pipelay vessel.

Allseas had commissioned SembCorp's subsidiary Sembawang Corp Ltd. to convert bulk carrier Solitaire into a pipe lay vessel in 1993.

But it terminated the $142.34 million contract two years later, alleging that SembCorp had failed to complete the work on time.

Both parties then took each other to court and the case has been under arbitration in London since 1995.

chart_expert123      ( Date: 21-Oct-2021 22:30) Posted:

👏 👏 👏 👏 👏 👏 👏

Very positive. Only you but not the facts.

Trade with care and everyone do ur own due diligence.

I don't know what is the terms in the contracts. Just quoted solitaire case how a tow away project will impact.

It will not just as simple as contracts cancellation, loss stop here. Obviously, sembmar and equinor will be sued to international court and lengthy lawsuit is waiting for sembmar after the fpso left sembmar shipyards.

better      ( Date: 21-Oct-2021 22:21) Posted:

That depends on whose fault it was. The hull is Equinor' s own design and investigation report last year did not pin point the fault on anyone. Accordingly, Equnior had approved the work at every stages of the hull construction until the error was discovered.

According to Equinor, the investigation team did not find any single event which could have been a direct cause for the welding quality issues.......

Furthermore, Equinor has not sufficiently complied with its own work processes and procedures for risk management, construction management, and follow-up at the construction site.

Even if Equinor' s follow-up team found signs of poor quality at an early stage, the extent and degree of seriousness were not understood. Sufficient measures were therefore not implemented.

Finally, Equinor' s follow-up team has not had enough personnel with experience and expertise in welding and welding control and has not utilized the company& rsquo s technical expertise in these areas early enough, the Norwegian company said.

Also, SCM had paid its due by rectifying most of the faults for free. The hull needs to be moved now for immediate topsides integration to avoid further delay. Any outstanding hull rectification work can be done at the same yard.

On the balance, a positive for Sembmarine.
 
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Sgvale
Supreme
21-Oct-2021 22:32     
 
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 Alert Admin 		So many negatives news. Still 8c. 4c to me also not worth.
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chart_expert123
Master
21-Oct-2021 22:30     
 
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Yells: "Only buy stock with revenue or net cash flow growth!!!!"
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 Alert Admin 		👏 👏 👏 👏 👏 👏 👏

Very positive. Only you but not the facts.

Trade with care and everyone do ur own due diligence.

I don't know what is the terms in the contracts. Just quoted solitaire case how a tow away project will impact.

It will not just as simple as contracts cancellation, loss stop here. Obviously, sembmar and equinor will be sued to international court and lengthy lawsuit is waiting for sembmar after the fpso left sembmar shipyards.

better      ( Date: 21-Oct-2021 22:21) Posted:

That depends on whose fault it was. The hull is Equinor' s own design and investigation report last year did not pin point the fault on anyone. Accordingly, Equnior had approved the work at every stages of the hull construction until the error was discovered.

According to Equinor, the investigation team did not find any single event which could have been a direct cause for the welding quality issues.......

Furthermore, Equinor has not sufficiently complied with its own work processes and procedures for risk management, construction management, and follow-up at the construction site.

Even if Equinor' s follow-up team found signs of poor quality at an early stage, the extent and degree of seriousness were not understood. Sufficient measures were therefore not implemented.

Finally, Equinor' s follow-up team has not had enough personnel with experience and expertise in welding and welding control and has not utilized the company& rsquo s technical expertise in these areas early enough, the Norwegian company said.

Also, SCM had paid its due by rectifying most of the faults for free. The hull needs to be moved now for immediate topsides integration to avoid further delay. Any outstanding hull rectification work can be done at the same yard.

On the balance, a positive for Sembmarine.
 

chart_expert123      ( Date: 21-Oct-2021 21:45) Posted:

😂 😂 😂 , do you read the solitaire story? 141mio contracts end up compensated 400 over million. That time the conversion pipe lay vessels was pulled to Scotland shipyard and all expenses all was counted on sembcorp.

You thought simply pulled out only? All the expenses on Norway shipyards will be counted on sembmar
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better
Elite
21-Oct-2021 22:21     
 
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 Alert Admin 		That depends on whose fault it was. The hull is Equinor' s own design and investigation report last year did not pin point the fault on anyone. Accordingly, Equnior had approved the work at every stages of the hull construction until the error was discovered.

According to Equinor, the investigation team did not find any single event which could have been a direct cause for the welding quality issues.......

Furthermore, Equinor has not sufficiently complied with its own work processes and procedures for risk management, construction management, and follow-up at the construction site.

Even if Equinor' s follow-up team found signs of poor quality at an early stage, the extent and degree of seriousness were not understood. Sufficient measures were therefore not implemented.

Finally, Equinor' s follow-up team has not had enough personnel with experience and expertise in welding and welding control and has not utilized the company& rsquo s technical expertise in these areas early enough, the Norwegian company said.

Also, SCM had paid its due by rectifying most of the faults for free. The hull needs to be moved now for immediate topsides integration to avoid further delay. Any outstanding hull rectification work can be done at the same yard.

On the balance, a positive for Sembmarine.
 

chart_expert123      ( Date: 21-Oct-2021 21:45) Posted:

😂 😂 😂 , do you read the solitaire story? 141mio contracts end up compensated 400 over million. That time the conversion pipe lay vessels was pulled to Scotland shipyard and all expenses all was counted on sembcorp.

You thought simply pulled out only? All the expenses on Norway shipyards will be counted on sembmar.

better      ( Date: 21-Oct-2021 21:05) Posted:

  Johan Castberg floater moved to Norway as delays mount



      Equinor takes incomplete FPSO hull to a Norwegian yard where it will occupy almost the whole workforce for more than a year
 
21 October 2021 7:18 GMT  UPDATED    21 October 2021 9:40 GMT
  in        Stavanger 


Equinor will transport the unfinished hull and turret for the Johan Castberg floating production, storage and offloading vessel from Singapore.


This should relieve Sembmarine of some manpower constraints. But likely SCM will lose the Wisting FPSO deal. But good riddence generally.
 


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Chagatai
Veteran
21-Oct-2021 22:13     
 
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 Alert Admin 		Lost Millions hundreds of millions billions tens of billions is it money or grains of sand? Somehow all the world?s shipyards still go on building
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chart_expert123
Master
21-Oct-2021 21:56     
 
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Yells: "Only buy stock with revenue or net cash flow growth!!!!"
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 Alert Admin 		Or already in plan? 😅 😅 😅

Stay away sembmar. This is not just another rights can settle...

chart_expert123      ( Date: 21-Oct-2021 21:54) Posted:

Norway shipyard. Norwegian, top richest in the world. It is open cheque, simply 2 times of the original contract value.

This time really burnt, TH shall just let sembmar raise white flag and move into JD and let keppel o&m buy over all assets at distress sales. Leave all the liability at sembmar and close shop.

Sembmar is independent company, not like last time under sembcorp industry. Only one ship sink. TH shall just do it.

chart_expert123      ( Date: 21-Oct-2021 21:49) Posted:

I think my analysis is correct lah, gonna sued already. 1.7bil order book, burnt off 1.3bil loss.

There will be only this reason, gonna sue for high compensation. Or else it shall be limited 10% per annum if contracts was signed with limited liability which is 170mio per annum.

Who is next and how many solitaire?

Singh jialat
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chart_expert123
Master
21-Oct-2021 21:54     
 
chart_expert123 About Contact  Quote this Post!  
Yells: "Only buy stock with revenue or net cash flow growth!!!!"
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 Alert Admin 		Norway shipyard. Norwegian, top richest in the world. It is open cheque, simply 2 times of the original contract value.

This time really burnt, TH shall just let sembmar raise white flag and move into JD and let keppel o&m buy over all assets at distress sales. Leave all the liability at sembmar and close shop.

Sembmar is independent company, not like last time under sembcorp industry. Only one ship sink. TH shall just do it.

chart_expert123      ( Date: 21-Oct-2021 21:49) Posted:

I think my analysis is correct lah, gonna sued already. 1.7bil order book, burnt off 1.3bil loss.

There will be only this reason, gonna sue for high compensation. Or else it shall be limited 10% per annum if contracts was signed with limited liability which is 170mio per annum.

Who is next and how many solitaire?

Singh jialat.

chart_expert123      ( Date: 21-Oct-2021 21:45) Posted:

😂 😂 😂 , do you read the solitaire story? 141mio contracts end up compensated 400 over million. That time the conversion pipe lay vessels was pulled to Scotland shipyard and all expenses all was counted on sembcorp.

You thought simply pulled out only? All the expenses on Norway shipyards will be counted on sembmar
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share456
Veteran
21-Oct-2021 21:53     
 
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 Alert Admin 		Confirmed SCM will be in heavy losses for 2022.
Confirmed another right issue in 2022.

what will be the share price in 2022 ?
 

better      ( Date: 21-Oct-2021 21:05) Posted:

  Johan Castberg floater moved to Norway as delays mount



      Equinor takes incomplete FPSO hull to a Norwegian yard where it will occupy almost the whole workforce for more than a year
 
21 October 2021 7:18 GMT  UPDATED    21 October 2021 9:40 GMT
  in        Stavanger 


Equinor will transport the unfinished hull and turret for the Johan Castberg floating production, storage and offloading vessel from Singapore.


This should relieve Sembmarine of some manpower constraints. But likely SCM will lose the Wisting FPSO deal. But good riddence generally.
 

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chart_expert123
Master
21-Oct-2021 21:49     
 
chart_expert123 About Contact  Quote this Post!  
Yells: "Only buy stock with revenue or net cash flow growth!!!!"
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 Alert Admin 		I think my analysis is correct lah, gonna sued already. 1.7bil order book, burnt off 1.3bil loss.

There will be only this reason, gonna sue for high compensation. Or else it shall be limited 10% per annum if contracts was signed with limited liability which is 170mio per annum.

Who is next and how many solitaire?

Singh jialat.

chart_expert123      ( Date: 21-Oct-2021 21:45) Posted:

😂 😂 😂 , do you read the solitaire story? 141mio contracts end up compensated 400 over million. That time the conversion pipe lay vessels was pulled to Scotland shipyard and all expenses all was counted on sembcorp.

You thought simply pulled out only? All the expenses on Norway shipyards will be counted on sembmar.

better      ( Date: 21-Oct-2021 21:05) Posted:

  Johan Castberg floater moved to Norway as delays mount



      Equinor takes incomplete FPSO hull to a Norwegian yard where it will occupy almost the whole workforce for more than a year
 
21 October 2021 7:18 GMT  UPDATED    21 October 2021 9:40 GMT
  in        Stavanger 


Equinor will transport the unfinished hull and turret for the Johan Castberg floating production, storage and offloading vessel from Singapore.


This should relieve Sembmarine of some manpower constraints. But likely SCM will lose the Wisting FPSO deal. But good riddence generally.
 


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chart_expert123
Master
21-Oct-2021 21:45     
 
chart_expert123 About Contact  Quote this Post!  
Yells: "Only buy stock with revenue or net cash flow growth!!!!"
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 Alert Admin 		😂 😂 😂 , do you read the solitaire story? 141mio contracts end up compensated 400 over million. That time the conversion pipe lay vessels was pulled to Scotland shipyard and all expenses all was counted on sembcorp.

You thought simply pulled out only? All the expenses on Norway shipyards will be counted on sembmar.

better      ( Date: 21-Oct-2021 21:05) Posted:

  Johan Castberg floater moved to Norway as delays mount



      Equinor takes incomplete FPSO hull to a Norwegian yard where it will occupy almost the whole workforce for more than a year
 
21 October 2021 7:18 GMT  UPDATED    21 October 2021 9:40 GMT
  in        Stavanger 


Equinor will transport the unfinished hull and turret for the Johan Castberg floating production, storage and offloading vessel from Singapore.


This should relieve Sembmarine of some manpower constraints. But likely SCM will lose the Wisting FPSO deal. But good riddence generally.
 

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better
Elite
21-Oct-2021 21:05     
 
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 Alert Admin

  Johan Castberg floater moved to Norway as delays mount



      Equinor takes incomplete FPSO hull to a Norwegian yard where it will occupy almost the whole workforce for more than a year
 
21 October 2021 7:18 GMT  UPDATED    21 October 2021 9:40 GMT
  in        Stavanger 


Equinor will transport the unfinished hull and turret for the Johan Castberg floating production, storage and offloading vessel from Singapore.


This should relieve Sembmarine of some manpower constraints. But likely SCM will lose the Wisting FPSO deal. But good riddence generally.
 
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better
Elite
21-Oct-2021 21:00     
 
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 Alert Admin
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Chagatai
Veteran
21-Oct-2021 20:42     
 
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 Alert Admin 		Lol 😂 lol 😂 lol this is what I mean !

Starship      ( Date: 21-Oct-2021 19:27) Posted:



Chagatai      ( Date: 21-Oct-2021 19:11) Posted:

All the Kep Semb Corpses lie at the bottom of the sea bed


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shortyboy
Member
21-Oct-2021 20:25     
 
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 Alert Admin 		Temasek n DBS dont invest for fun but to reap in profit om long term projection.
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shortyboy
Member
21-Oct-2021 20:22     
 
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 Alert Admin 		Over past few weeks. Can sense shortist fear of huge losses by repeating similiar negative post. The more n frequent daily posting reflect the fear of wrong bet getting stronger. This is not hyflux whereby major share holder temasek already get out b4 it goes down. Apparently Temasek and 2nd holder DBS is still holding onto this burger. I will definitely sell off SMM immediate if i ever read any sgx posting of them selling or cutting down their holdings. They have all the tools and resources to be able to project 1st to get out b4 us. Just needs to bite the bullet to wait out the recovery leg in 2022 despite all negative news.
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naoshingo
Elite
21-Oct-2021 20:12     
 
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 Alert Admin 		Seabed drill hole has plenty of oil & gas mah

Chagatai      ( Date: 21-Oct-2021 19:11) Posted:

All the Kep Semb Corpses lie at the bottom of the sea bed

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Starship
Supreme
21-Oct-2021 19:27     
 
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 Alert Admin

Chagatai      ( Date: 21-Oct-2021 19:11) Posted:

All the Kep Semb Corpses lie at the bottom of the sea bed

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Chagatai
Veteran
21-Oct-2021 19:11     
 
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 Alert Admin 		All the Kep Semb Corpses lie at the bottom of the sea bed
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better
Elite
21-Oct-2021 17:43     
 
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 Alert Admin 		Keppel down 0.73% today SCI down 0.51% SCM unchanged.
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Starship
Supreme
21-Oct-2021 17:22     
 
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TigerPlay      ( Date: 21-Oct-2021 16:39) Posted:

Got pic of starship dancing?
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