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Latest Forum Topics / Seatrium    Last:0.091 --  Post Reply
SembCorp Marine- The new Frontier.
PhillipTan
Supreme
09-Jun-2021 10:01     
 
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 Alert Admin 		Ok, will not be fixated on whether you managed to to make profit on contra since you already clarified that you are picking it up
But will still be curious if you really manage to sell off at 0.205
Because if it is really feasible, I may want to try with some spare cash 
A couple to a few hundred dollars profit every week consistently is not a bad thing right if it can be done
So if you would be so kind, just keep us updated lol
 

stanleytay      ( Date: 09-Jun-2021 09:47) Posted:

I am buying at 0.2, if i cant sell off at 0.205.. Im willing to pick up. I hope you dont get too fixated on this as this is a consolidation period for smm. 

PhillipTan      ( Date: 09-Jun-2021 09:36) Posted:

Not me...
Stanley previously said it could be done, buy at 0.20 and sell at 0.205
I had the same views as you that it is almost not possible to get past the walls of millions of queues
So I asked him to try and he did managed to get some at 0.20
That is why I am interested in updates from him when and if he manages to sell off at 0.205 in contra trade
Lo
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better
Elite
09-Jun-2021 09:56     
 
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 Alert Admin 		Brent Crude @ $72.4
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better
Elite
09-Jun-2021 09:53     
 
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 Alert Admin 		Daily Purchase Program- collected 40k @ 20 cents  laugh

 

Filled Quantity @ Price Date (Market Time) Counter Party
40000 SGD 0.20000 09/06/2021 CIMB

13 days to merger announcement. Trade safe and DYODD>
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ckmpd1
Supreme
09-Jun-2021 09:48     
 
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 Alert Admin 		I think a better strategy is go for fundamentals.  If fundamentals are good, buy and be ready to keep it for the long term.  Dont base our hope on contra. 

PhillipTan      ( Date: 09-Jun-2021 09:38) Posted:

Here

PhillipTan      ( Date: 07-Jun-2021 12:35) Posted:

Technically yes if you are just doing pure data comparison
But easier said than done, really
It is not going to be easy going past the daily queued wall of hundreds of millions to play contra
CFD buying in price is 0.205 and selling price is 0.20, so unless the price really goes up you can forget about CFDs

I would like to see you try, how about 90 lots instead of 900?
You can easily make a few hundred dollars in less than a week
You can try queuing at 0.20 and if you get it and fail to sell at 0.205, you still can sell back at 0.20
You will only lose on the commission charges
 
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stanleytay
Master
09-Jun-2021 09:47     
 
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 Alert Admin 		I am buying at 0.2, if i cant sell off at 0.205.. Im willing to pick up. I hope you dont get too fixated on this as this is a consolidation period for smm. 

PhillipTan      ( Date: 09-Jun-2021 09:36) Posted:

Not me...
Stanley previously said it could be done, buy at 0.20 and sell at 0.205
I had the same views as you that it is almost not possible to get past the walls of millions of queues
So I asked him to try and he did managed to get some at 0.20
That is why I am interested in updates from him when and if he manages to sell off at 0.205 in contra trade
Lol

TigerPlay      ( Date: 09-Jun-2021 09:20) Posted:

if u talking about these few days, impossible to sell at 20.5cts even if you manage to get at 20cts (which is another impossibility). whole day vol is very much lesser than the buy(20cts) and sell(20.5cts) queue.basically is ownself buy ownself sell weeks so far..
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ckmpd1
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09-Jun-2021 09:46     
 
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 Alert Admin 		yes

agree with you

PhillipTan      ( Date: 09-Jun-2021 09:36) Posted:

Not me...
Stanley previously said it could be done, buy at 0.20 and sell at 0.205
I had the same views as you that it is almost not possible to get past the walls of millions of queues
So I asked him to try and he did managed to get some at 0.20
That is why I am interested in updates from him when and if he manages to sell off at 0.205 in contra trade
Lol

TigerPlay      ( Date: 09-Jun-2021 09:20) Posted:

if u talking about these few days, impossible to sell at 20.5cts even if you manage to get at 20cts (which is another impossibility). whole day vol is very much lesser than the buy(20cts) and sell(20.5cts) queue.basically is ownself buy ownself sell weeks so far..
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PhillipTan
Supreme
09-Jun-2021 09:38     
 
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 Alert Admin 		Here

PhillipTan      ( Date: 07-Jun-2021 12:35) Posted:

Technically yes if you are just doing pure data comparison
But easier said than done, really
It is not going to be easy going past the daily queued wall of hundreds of millions to play contra
CFD buying in price is 0.205 and selling price is 0.20, so unless the price really goes up you can forget about CFDs

I would like to see you try, how about 90 lots instead of 900?
You can easily make a few hundred dollars in less than a week
You can try queuing at 0.20 and if you get it and fail to sell at 0.205, you still can sell back at 0.20
You will only lose on the commission charges
 

stanleytay      ( Date: 07-Jun-2021 12:18) Posted:

Why not? If someone with size like 900lots buy at 0.2 sell at 0.205, can easily make a few thousands dollars. Last over 200m done at 0.205, those people either need to hold or sell when its due. 
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PhillipTan
Supreme
09-Jun-2021 09:36     
 
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 Alert Admin 		Not me...
Stanley previously said it could be done, buy at 0.20 and sell at 0.205
I had the same views as you that it is almost not possible to get past the walls of millions of queues
So I asked him to try and he did managed to get some at 0.20
That is why I am interested in updates from him when and if he manages to sell off at 0.205 in contra trade
Lol

TigerPlay      ( Date: 09-Jun-2021 09:20) Posted:

if u talking about these few days, impossible to sell at 20.5cts even if you manage to get at 20cts (which is another impossibility). whole day vol is very much lesser than the buy(20cts) and sell(20.5cts) queue.basically is ownself buy ownself sell weeks so far...

PhillipTan      ( Date: 09-Jun-2021 08:55) Posted:

ok, keep us updated when you managed to sell off at 0.20
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Abe2021
Veteran
09-Jun-2021 09:24     
 
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 Alert Admin 		ST, cut queue by doing that. But must execute it strategically.

Better, so meaning Citibank got the info wrong
4) The article made an erroneous statement '   They were originally slated for delivery in the second half of this year, noted Citi Research analyst Chang Kwok Wei in a Tuesday report.
Transocean has already    paid 35 per cent of the contract price for Deepwater Atlas -    with about US$370 million (S$490 million) payable remaining,
and    30 per cent for Deepwater Titan -    with  a remainder of about US$440 million to be paid.' Chang obliviously missed out the rest of the progress payments prior to delivery.

Anyway other analysts gave the TP 23c ~ 25c. Let them fight it out. 
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SembMarineLong
Veteran
09-Jun-2021 09:21     
 
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 Alert Admin 		Long to enjoy
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TigerPlay
Master
09-Jun-2021 09:20     
 
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 Alert Admin 		if u talking about these few days, impossible to sell at 20.5cts even if you manage to get at 20cts (which is another impossibility). whole day vol is very much lesser than the buy(20cts) and sell(20.5cts) queue.basically is ownself buy ownself sell weeks so far...

PhillipTan      ( Date: 09-Jun-2021 08:55) Posted:

ok, keep us updated when you managed to sell off at 0.205

stanleytay      ( Date: 09-Jun-2021 08:30) Posted:

The accumulatiion level is at 0.2. But everyday the BB pile millions at buyers. The only time you can get 0.2, is q 0.205 during matching period. I tried a few times last two days and i got 0.2.
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TigerPlay
Master
09-Jun-2021 09:11     
 
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 Alert Admin 		There are 52 mils buying at 20cts, 48 mils selling at 20.5cts, so how can you get at 20cts when u q to buy at 20.5cts, won' t they sell it to you at 20.5cts straighaway, why sell to u at 20cts? Dun understand leh... even if this is at auction time.

stanleytay      ( Date: 09-Jun-2021 08:30) Posted:

The accumulatiion level is at 0.2. But everyday the BB pile millions at buyers. The only time you can get 0.2, is q 0.205 during matching period. I tried a few times last two days and i got 0.2.

SembMarineLong      ( Date: 09-Jun-2021 08:19) Posted:

Long to enjo
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PhillipTan
Supreme
09-Jun-2021 08:55     
 
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 Alert Admin 		ok, keep us updated when you managed to sell off at 0.205

stanleytay      ( Date: 09-Jun-2021 08:30) Posted:

The accumulatiion level is at 0.2. But everyday the BB pile millions at buyers. The only time you can get 0.2, is q 0.205 during matching period. I tried a few times last two days and i got 0.2.

SembMarineLong      ( Date: 09-Jun-2021 08:19) Posted:

Long to enjo
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stanleytay
Master
09-Jun-2021 08:30     
 
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 Alert Admin 		The accumulatiion level is at 0.2. But everyday the BB pile millions at buyers. The only time you can get 0.2, is q 0.205 during matching period. I tried a few times last two days and i got 0.2.

SembMarineLong      ( Date: 09-Jun-2021 08:19) Posted:

Long to enjoy

choices30      ( Date: 08-Jun-2021 23:13) Posted:

This one must be v v v patient and bide your time
hug tight
otherwise it has big backers so its quite stable
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SembMarineLong
Veteran
09-Jun-2021 08:19     
 
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 Alert Admin 		Long to enjoy

choices30      ( Date: 08-Jun-2021 23:13) Posted:

This one must be v v v patient and bide your time
hug tight
otherwise it has big backers so its quite stable
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choices30
Member
08-Jun-2021 23:13     
 
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 Alert Admin 		This one must be v v v patient and bide your time
hug tight
otherwise it has big backers so its quite stable
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better
Elite
08-Jun-2021 22:55     
 
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 Alert Admin 		Four points of contention on the biz times and straits times article on Sembmarine.

1) First, articles on Biz Times and Straits Times are usually not free for all to read in full. Only for subscribers. Articles that are free for
all are usually because the sponsors/ contributors of the articles are paying SPH a fee to publish. In other words,
Citibank is willing to pay a fee for more people to read their skewed report

2) The shortage of skilled labour is pretty old news that was first mentioned in Sembmarine' s Q1 biz update released more than one month ago.
The only new news is the change in delivery terms for Transocean Titan and Atlas, which the article deliberately tried to link together with the
' reported' labour shortage. In fact, I doubt Sembmarine has any labour shortage. It is a conscious and deliberated decision on Sembmarines part
to ' righ size'   their work force to manage cost accordingly to their projects' load and obligation.

3) The delay in the delivery of the drillships is largely due to Transocean' s inability or unwillingness to make progress payments in prior years until
they can secure jobs for the drillships. Even after Transocean secured the Chevron USD830mil 5yrs deal for Titan in 2019, they were unable to
pay up fast to complete Titan due to the sharp drop in their revenue in 2020. Also, Atlas is more advanced in the building stage than Titan. So based
on the original agreement, Transocean must take delivery of Atlas first before Titan. In other words, they have to pay up for both drillships to take
delivery of Titan. There lies Transocean' s dilemma.

4) The article made an erroneous statement ' They were originally slated for delivery in the second half of this year, noted Citi Research analyst Chang Kwok Wei in a Tuesday report.
Transocean has already  paid 35 per cent of the contract price for Deepwater Atlas -  with about US$370 million (S$490 million) payable remaining,
and  30 per cent for Deepwater Titan -  with  a remainder of about US$440 million to be paid.' Chang obliviously missed out the rest of the progress payments prior to delivery.

The drillships cost USD2.25bil.  Transocean has paid around USD730mil (32.5%) so far and would need to pay USD810mil at delivery. So primary 6 math......what is the rest of the progress payments to be made to Sembmarine prior to delivery?. If your answer is USD710mil, congratulation..you have passed your PSLE math.
 

better      ( Date: 08-Jun-2021 19:24) Posted:

This ' free for all to read' piece appears in the Straits Times, Biz Times and similiar articles are appearing everywhere
else online. The intention is pretty clear. I would comment on this misleading article later.

 

Sembmarine seeking alternative sources for skilled workers, likely to incur extra costs

SINGAPORE (THE BUSINESS TIMES) -  Sembcorp Marine (Sembmarine) has begun exploring alternative sources of skilled labour,
which is likely to incur increased manpower costs for ongoing projects, as it continues to face a shortage, with the increased restrictions
implemented in phase two (heightened alert).

In an update on Tuesday (June 8), the marine and offshore engineering group also said that to date, there has been no cancellation of any
of its existing projects, and it would continue to coordinate with customers to reschedule project completions.

This comes just a day after the group announced that its wholly owned unit, Jurong Shipyard, has agreed to revise the delivery dates of two
ltra-deepwater drillships it has contracted to build for Transocean Offshore Deepwater Holdings, due to work disruptions arising from Covid-19.

Sembmarine said that the amendment agreements are not expected to have any material impact on its earnings per share for the year ending December this year.
The delivery dates of the vessels, Deepwater Atlas and Deepwater Titan, have been rescheduled to December this year and May next year, respectively.

They were originally slated for delivery in the second half of this year, noted Citi Research analyst Chang Kwok Wei in a Tuesday report.
Transocean has already paid 35 per cent of the contract price for Deepwater Atlas - with about US$370 million (S$490 million) payable remaining,
and 30 per cent for Deepwater Titan - with a remainder of about US$440 million to be paid.

The agreements further provide that upon the respective delivery of the vessels, Transocean will make partial delivery payment,
with the remaining sums payable in quarterly instalments, with accrued interest of 4.5 per cent  a year within five years from the
delivery date, according to Mr Chang.

He acknowledged that Sembmarine&rsquo s net current liabilities position had finally been reversed in the first quarter of 2021 post-refinancing,
but remains negative on the group.

&ldquo The deferment in delivery payments from Transocean will have an adverse impact on Sembmarine&rsquo s cash flows,&rdquo he said.
&ldquo We had previously expected an approximately $1 billion boost to the coffers in financial year 2021. However,
this amount has now been stretched over a five- to six-year timeframe and would delay a return to free cash flow-positive territory.&rdquo

Mr Chang also believes that the group is chasing large new-build contracts to provide ample coverage of its enlarged fixed-cost base,
which will affect working capital requirements.

With the likely impact on Sembmarine&rsquo s net gearing and the recent announcements, Citi has maintained its &ldquo sell&rdquo call on the group,
with an unchanged target price of 14 cents.

 

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SembMarineLong
Veteran
08-Jun-2021 19:41     
 
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 Alert Admin 		Long to enjoy
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better
Elite
08-Jun-2021 19:24     
 
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 Alert Admin

This ' free for all to read' piece appears in the Straits Times, Biz Times and similiar articles are appearing everywhere
else online. The intention is pretty clear. I would comment on this misleading article later.

 

Sembmarine seeking alternative sources for skilled workers, likely to incur extra costs

SINGAPORE (THE BUSINESS TIMES) -  Sembcorp Marine (Sembmarine) has begun exploring alternative sources of skilled labour,
which is likely to incur increased manpower costs for ongoing projects, as it continues to face a shortage, with the increased restrictions
implemented in phase two (heightened alert).

In an update on Tuesday (June 8), the marine and offshore engineering group also said that to date, there has been no cancellation of any
of its existing projects, and it would continue to coordinate with customers to reschedule project completions.

This comes just a day after the group announced that its wholly owned unit, Jurong Shipyard, has agreed to revise the delivery dates of two
ltra-deepwater drillships it has contracted to build for Transocean Offshore Deepwater Holdings, due to work disruptions arising from Covid-19.

Sembmarine said that the amendment agreements are not expected to have any material impact on its earnings per share for the year ending December this year.
The delivery dates of the vessels, Deepwater Atlas and Deepwater Titan, have been rescheduled to December this year and May next year, respectively.

They were originally slated for delivery in the second half of this year, noted Citi Research analyst Chang Kwok Wei in a Tuesday report.
Transocean has already paid 35 per cent of the contract price for Deepwater Atlas - with about US$370 million (S$490 million) payable remaining,
and 30 per cent for Deepwater Titan - with a remainder of about US$440 million to be paid.

The agreements further provide that upon the respective delivery of the vessels, Transocean will make partial delivery payment,
with the remaining sums payable in quarterly instalments, with accrued interest of 4.5 per cent  a year within five years from the
delivery date, according to Mr Chang.

He acknowledged that Sembmarine&rsquo s net current liabilities position had finally been reversed in the first quarter of 2021 post-refinancing,
but remains negative on the group.

&ldquo The deferment in delivery payments from Transocean will have an adverse impact on Sembmarine&rsquo s cash flows,&rdquo he said.
&ldquo We had previously expected an approximately $1 billion boost to the coffers in financial year 2021. However,
this amount has now been stretched over a five- to six-year timeframe and would delay a return to free cash flow-positive territory.&rdquo

Mr Chang also believes that the group is chasing large new-build contracts to provide ample coverage of its enlarged fixed-cost base,
which will affect working capital requirements.

With the likely impact on Sembmarine&rsquo s net gearing and the recent announcements, Citi has maintained its &ldquo sell&rdquo call on the group,
with an unchanged target price of 14 cents.

 
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Isolator
Supreme
08-Jun-2021 18:48     
 
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 Alert Admin 		Market going for another rally again... long to enjoy...
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