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Vard Holdings
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Qanghoo
Supreme |
18-Mar-2015 11:17
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Seems some pun in ur post hah?
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sheerluck
Supreme |
18-Mar-2015 11:15
Yells: "Work for your money first then let your money work for you" |
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Based on my estimates, VARD needs a revenue of NOK15.5bil to breakeven for FY2015. Its better years only see about NOK13bil. In short VARD is heading into a ice-berg!!!!!!!! Hope its Ice-classed vessels are prepared for it. DYDD. 
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Bon3260
Supreme |
18-Mar-2015 10:20
Yells: "Ooo Ooo Aaa Aaa!" |
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Vard has a gap to fill @ 0.290. (' ' ,) Note: Vard close 0.480 as @ 17-Mar-2015 |
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sheerluck
Supreme |
18-Mar-2015 10:08
Yells: "Work for your money first then let your money work for you" |
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There will always be a new " low time low" .
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taxiuncle
Veteran |
18-Mar-2015 10:05
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Wow..all time low now...... |
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chongpin
Senior |
18-Mar-2015 09:24
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The announcement from Vard Holdings at SGX website is accurate : The Board of Directors of Vard Holdings Limited (the " Company" ) wishes to inform that on 12 March 2015, the Company was notified that two affiliates of E.R. Offshore, our customer, have filed for insolvency at a local court in Germany. The Company' s subsidiary is currently constructing one PSV for each of these companies at its shipyard in Vung Tau, Vietnam. It has received a 10% installment for one of the vessels. On 13 March 2015 the Group terminated the two shipbuilding contracts. The Group does not expect to repay the prepayment received, and expects to be able to sell the vessels at a price that will cover the expected construction cost less the prepayment received. The impact of the termination and the proposed resale is expected not to have a material effect on the earnings per share of the Group for the financial year ending 31 December 2015. BY ORDER OF THE BOARD Roy Reite Executive Director and Chief Executive Officer 14 March 2015 |
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sheerluck
Supreme |
17-Mar-2015 10:46
Yells: "Work for your money first then let your money work for you" |
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It is very confusing sicne both sides said it differently. So is it VARD corp comm don' t know what they are saying or VARD don' t know who they signed contract with?
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granto
Master |
17-Mar-2015 10:18
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Read the last line and draw your own conclusion about their claim... :)
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sheerluck
Supreme |
17-Mar-2015 10:01
Yells: "Work for your money first then let your money work for you" |
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R: KE, Vard now is 20% discount to your TP. Good buy. Must buy. Buy until 57cts you still earn 1 cent spread. KE: yes. ofc. You should buy more. R: How about you? KE: You should buy more. R: You not buying? KE: You should buy more. R: So are you buying? KE: You should buy more. R: !!?!?!??!!
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sheerluck
Supreme |
17-Mar-2015 09:57
Yells: "Work for your money first then let your money work for you" |
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Only clarify after donkey months later on the sale agreement????
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granto
Master |
16-Mar-2015 22:23
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Bit of a spat between ER Offshore and Vard over the announcement, read this... E.R. Offshore says Vard statement regarding cancellations misleading: http://splash247.com/e-r-offshore-says-vard-statement-regarding-cancellations-misleading/ |
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sheerluck
Supreme |
16-Mar-2015 12:29
Yells: "Work for your money first then let your money work for you" |
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Do not rule out more cancellations ahread and still ask people to hold? Really good. KE: R, there is this one big truck coming your way. R: what should I do? KE: Don' t move first beause we also don' t know whether it is coming or not. I will stand one side and see how first. R: Don' t move? KE: Yes (and moved very far away from R) or you can still go forward a bit more. R=retailers KE=whoever
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Octavia
Supreme |
16-Mar-2015 11:55
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Vard has terminated shipbuilding contracts for two PSVs after customer E.R. Offshore filed for bankruptcy. The vessels are being constructed in Vietnam and are due for delivery in 3Q15 and 2Q16. Maybank-KE estimates the PSVs to be valued at NOK300m (US$37m) each, with 10% prepayment made for one of the vessels. Management however expects to recover the remaining construction costs by selling both vessels. Separately, Upstream had earlier reported that Island offshore has requested Vard to postpone deliveries of three PSVs and a OSCV, worth about NOK2.2-2.4b (US$268-292m), by six months. These vessels were due to be delivered in 2015 and 2016 The above developments reaffirm demand weakness in the offshore sector and the vulnerability of small players like E.R. Offshore, while bigger players like Island Offshore have the balance-sheet depth to delay deliveries. It is also not surprising that most affected vessels are PSVs given oversupply of this asset class even before the recent oil rout. Vard&rsquo s net orderbook of NOK17.7b at end-2014 comprised 39 vessels, of which 13 are PSVs. Maybank-KE do not rule out more cancellations ahead. |
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moneyplant
Master |
14-Mar-2015 14:35
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http://vard.listedcompany.com/newsroom/20150314_003605_MS7_FF08LNWQ97TYAQG7.1.pdf
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moneyplant
Master |
14-Mar-2015 14:30
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False news |
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sheerluck
Supreme |
14-Mar-2015 09:26
Yells: "Work for your money first then let your money work for you" |
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So yesterday drop because of news leak is it? Retailers only get to choose between breadcrumbs or stale bread.
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Qanghoo
Supreme |
14-Mar-2015 08:52
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Contracts terminated. Monday tank some more?
VARD HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Registration No. 201012504K) TERMINATION OF CONTRACTS
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Hawkeye
Master |
13-Mar-2015 14:17
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Any Reason why Vard go down so low as it is? Or its just the Shipping and Ship Building as a whole and the industry is so unatractable for investment. |
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tobias_i_d
Senior |
09-Mar-2015 21:32
Yells: "Good technicians don't eat heads and tails." |
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This counter has been in downward trend since way back March 2012.... Longists, beware. shortists, please enjoy the buffet... 
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chongpin
Senior |
27-Feb-2015 16:55
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Vard Holdings&rsquo FY14 earnings dips 2.2% to $61.8 millionBy PC Lee / theedgemarkets.com | February 27, 2015 : 7:40 AM MYT
SINGAPORE (Feb 27): Vard Holdings, the designer and shipbuilder of offshore and specialised vessels, announced 4Q earnings rose 36.3% to NOK 154 million ($27.3 million) from NOK 113 million a year ago. The stronger bottomline came on the back of a 45.5% rise in revenue to NOK 4.5 billion due to very high building activity at the yards and with subcontractors. For the fiscal year ended 31 December 2014 (FY14), earnings came in slightly lower at NOK 349 million despite revenue rising 15.8% to NOK 12.9 billion from NOK 11.2 billion a year ago. This was due to higher operational expenses, which caused FY14&rsquo s EBITDA to dip 37.5% to NOK 429 million. EBITDA margin improved for both periods, registering 2.7% for 4Q and 3.3% for FY14. At end of Dec, Vard&rsquo s order book is valued at NOK 17.7 billion. This comprises 39 firm vessel orders, 24 of which will be of its own design. Vard said the recent oil price decline has profoundly altered the exploration & production spending outlook for oil companies, in particular for the North Sea, its home market. &ldquo On the back of the unfavourable short-term market situation, new order intake for 2015 is expected to be weak, although Vard&rsquo s existing order book ensures good revenue coverage for the majority of the year,&rdquo it added. It has also instituted a company-wide cost improvement programme, aimed at increasing flexibility and reducing both fixed and variable costs. Vard closed 5.9% lower at 55.5 cents yesterday |
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