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Latest Forum Topics / Seatrium    Last:0.091 --  Post Reply
SembCorp Marine- The new Frontier.
better
Elite
26-Oct-2021 11:04     
 
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Johan Castberg FPSO scope adapting to transportation window

Oct. 26, 2021
Sembcorp Marine has issued a progress update on its construction program for the Johan Castberg FPSO for the Barents Sea.
(Courtesy Equinor)
 
Illustration of the Johan Castberg FPSO.
Illustration of the Johan Castberg FPSO.


Offshore staff

SINGAPORE  &ndash   Sembcorp Marine  has issued a progress update on its construction program for the  Johan Castberg FPSO  for the Barents Sea.

Work on the hull and living quarters was advanced when COVID-19 occurred, resulting in restrictions that caused delays to the schedule. Then  welding issues  came to light, with the rectification measures broadening the scope of work required.

However, what remains now to be completed is small relative to the base scope, Sembcorp said.

The hull and living quarters are largely completed, but to accommodate the available transportation window for the towing operations to Norway,  Equinor  has requested adjustments to the remaining scope of work.

These are provided for in the terms of the contract and the two parties are currently finalizing the arrangements.

10/25/2021

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Trader1987
Veteran
26-Oct-2021 10:51     
 
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 Alert Admin 		No me but, watching with eyes open and having popcorn 🍿 instead 😝 😝

pkli899      ( Date: 26-Oct-2021 10:48) Posted:

Me no sell....bought more instead.

ching^^      ( Date: 26-Oct-2021 10:46) Posted:

I got notice from sm about electronic dissemination of the offeree circular, anyone of u sell ur share?
Why recently so many pattern for sm?


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ching^^
Senior
26-Oct-2021 10:49     
 
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 Alert Admin 		Same offer given.. What for to busy busy sell off to them.

pkli899      ( Date: 26-Oct-2021 10:48) Posted:

Me no sell....bought more instead.

ching^^      ( Date: 26-Oct-2021 10:46) Posted:

I got notice from sm about electronic dissemination of the offeree circular, anyone of u sell ur share?
Why recently so many pattern for sm?


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pkli899
Supreme
26-Oct-2021 10:48     
 
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 Alert Admin 		Me no sell....bought more instead.

ching^^      ( Date: 26-Oct-2021 10:46) Posted:

I got notice from sm about electronic dissemination of the offeree circular, anyone of u sell ur share?
Why recently so many pattern for sm?

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ching^^
Senior
26-Oct-2021 10:46     
 
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 Alert Admin 		I got notice from sm about electronic dissemination of the offeree circular, anyone of u sell ur share?
Why recently so many pattern for sm?
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pkli899
Supreme
26-Oct-2021 10:41     
 
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 Alert Admin 		Sorry, typo.
Should be " very well versed" .

pkli899      ( Date: 26-Oct-2021 10:39) Posted:

Though they are from opposing camp, I have to say both Better and Chart_expert123 have very good points most of the time.
I really appreciate their contributions, especially those lengthy ones which are full of info. Surely quite a lot of effort put in.
Both are very versed with the industry.  The only different is one focus on the good. The other on the bad.
Regardless of the side u take, we should applaud them.
This thread is worth following because of ppl like them.
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pkli899
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26-Oct-2021 10:39     
 
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 Alert Admin 		Though they are from opposing camp, I have to say both Better and Chart_expert123 have very good points most of the time.
I really appreciate their contributions, especially those lengthy ones which are full of info. Surely quite a lot of effort put in.
Both are very versed with the industry.  The only different is one focus on the good. The other on the bad.
Regardless of the side u take, we should applaud them.
This thread is worth following because of ppl like them.
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pkli899
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26-Oct-2021 10:26     
 
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 Alert Admin 		LOL.....saliva cannot reach leh.

TigerPlay      ( Date: 26-Oct-2021 10:23) Posted:

Later pp spit saliva at you hor when they lose money arh

Trader1987      ( Date: 26-Oct-2021 10:08) Posted:

70M @ S$0.08 - no taker 😭 😭

COME ON - SMM SUPPORTERS?!?!?
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stanleytay
Master
26-Oct-2021 10:25     
 
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 Alert Admin 		It seem like chart expert is the one working in Smm .

better      ( Date: 26-Oct-2021 10:23) Posted:

May I know what do you agree and what do you disagree? Specifically about SCM welding being poor quality??

Hawker80      ( Date: 26-Oct-2021 09:44) Posted:

just saw this...

i agreed with chart_expert123 in some , but not all. 

 
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TigerPlay
Master
26-Oct-2021 10:23     
 
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 Alert Admin 		Later pp spit saliva at you hor when they lose money arh

Trader1987      ( Date: 26-Oct-2021 10:08) Posted:

70M @ S$0.08 - no taker 😭 😭

COME ON - SMM SUPPORTERS?!?!?
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better
Elite
26-Oct-2021 10:23     
 
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 Alert Admin 		May I know what do you agree and what do you disagree? Specifically about SCM welding being poor quality??

Hawker80      ( Date: 26-Oct-2021 09:44) Posted:

just saw this...

i agreed with chart_expert123 in some , but not all. 

 

stanleytay      ( Date: 26-Oct-2021 09:35) Posted:

I thought Hawker is an employee of SMM, Chart expert says work of smm is poor quality. You have anything to defend your company anot
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Trader1987
Veteran
26-Oct-2021 10:08     
 
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 Alert Admin 		70M @ S$0.08 - no taker 😭 😭

COME ON - SMM SUPPORTERS?!?!?
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chart_expert123
Master
26-Oct-2021 10:00     
 
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Yells: "Only buy stock with revenue or net cash flow growth!!!!"
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 Alert Admin 		The incident of this FPSO obviously is a top management decision to build the hull and structure in 3rd party shipyards and eventually not meeting the welding quality standard expected by Norweigan gov who expect the FPSO to be in operation 30-40 years at north sea.

I don' t really think that shall push the blame to employees and workers level who sweat and hardwork everday under sun and confined space with huge risk to complete the work.

I all along support the merge plan is to expect the Keppel O& M to merge with Sembmar and top management level can be merged, retire and retrench or downgrade those people who signed the contracts and mis manage the contracts.

both company should stop signing contracts with poor payment term, low margin and company with cash flow problem and completely turn the industry profitable and cash flow healthy. Now, the whole markets are so bad in payment due to cash flow issues, all these must change after merge. 

stanleytay      ( Date: 26-Oct-2021 09:40) Posted:


People say your company work is poor quality, you nothing to say? Haha. Previously say until so garang that cannot let people spread false rumours about the company he work in. Now nothing to say. Think you are just a small employee in SMM. I keep quiet lor, you are just a small fry.

 

Hawker80      ( Date: 26-Oct-2021 09:35) Posted:

bro you keep quiet la. 


TH play retailer, but you said its not TH fault.

dont forget your favourite dog quote. 

 
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ckmpd1
Supreme
26-Oct-2021 09:54     
 
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 Alert Admin 		Kep Corp discharging KOM will be like SCI demerging with SCI.

SCI rose after demerger.  I expect KC to rise too when KOB is cut off from KC.  SMM was a liability to SCI.  Likewise KOM is a liability to KC

chart_expert123      ( Date: 26-Oct-2021 09:02) Posted:

2016 until now. what to worry. 

Lawyers are very free and toxic in the world, making money through this kind of lawsuit. In law of contract, if the cause is unforeseeable and too " remote" , sue of negligent in this case is invalid. the lawsuit still on going because USA behind, or else who care about this kind of lawsuit since it is common understanding all investors are willing buyer willing seller and should be responsible for own decision or so call " Caveat Emptor" , " do your own diligent" .

what need to worry is Norwegian and Equinor case, the poor quality of welding for Hull & superstructure is very close, not" remote" at all. the breach of conditions are the one will kill sembmar which is poor quality of welding, welding and construction done in few 3rd party yards and herself is not qualified yard to do newbuilding. As per Law of contract, breach of conditions can be sued for compensation and contract cancellation.

Eventually, Keppel corp will discharge KOM to merge with Sembmar as new entity within a year. The lawsuit will be dragged continually.

All shall take this chance to buy Keppel corp at cheap for keppel corp subsidiaries and free shares of the new entity. No risk at all.
 

TigerPlay      ( Date: 26-Oct-2021 08:17) Posted:

But KC kenna sued over 1 bililion SGD, will collapese or not today the share price or no effect at all
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Hawker80
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26-Oct-2021 09:44     
 
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 Alert Admin 		just saw this...

i agreed with chart_expert123 in some , but not all. 

 

stanleytay      ( Date: 26-Oct-2021 09:35) Posted:

I thought Hawker is an employee of SMM, Chart expert says work of smm is poor quality. You have anything to defend your company anot?

chart_expert123      ( Date: 26-Oct-2021 09:02) Posted:

2016 until now. what to worry. 

Lawyers are very free and toxic in the world, making money through this kind of lawsuit. In law of contract, if the cause is unforeseeable and too " remote" , sue of negligent in this case is invalid. the lawsuit still on going because USA behind, or else who care about this kind of lawsuit since it is common understanding all investors are willing buyer willing seller and should be responsible for own decision or so call " Caveat Emptor" , " do your own diligent" .

what need to worry is Norwegian and Equinor case, the poor quality of welding for Hull & superstructure is very close, not" remote" at all. the breach of conditions are the one will kill sembmar which is poor quality of welding, welding and construction done in few 3rd party yards and herself is not qualified yard to do newbuilding. As per Law of contract, breach of conditions can be sued for compensation and contract cancellation.

Eventually, Keppel corp will discharge KOM to merge with Sembmar as new entity within a year. The lawsuit will be dragged continually.

All shall take this chance to buy Keppel corp at cheap for keppel corp subsidiaries and free shares of the new entity. No risk at all.
 
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ckmpd1
Supreme
26-Oct-2021 09:44     
 
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 Alert Admin 		yesyes

well said

Hawker80      ( Date: 26-Oct-2021 09:42) Posted:

I already responsed to scammer everything i could. 
perhaps you should open your eye big big and see

ok keep your words yea..
keep quiet. 

shhhh

stanleytay      ( Date: 26-Oct-2021 09:40) Posted:


People say your company work is poor quality, you nothing to say? Haha. Previously say until so garang that cannot let people spread false rumours about the company he work in. Now nothing to say. Think you are just a small employee in SMM. I keep quiet lor, you are just a small fry.

 
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Hawker80
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26-Oct-2021 09:42     
 
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 Alert Admin 		I already responsed to scammer everything i could. 
perhaps you should open your eye big big and see

ok keep your words yea..
keep quiet. 

shhhh

stanleytay      ( Date: 26-Oct-2021 09:40) Posted:


People say your company work is poor quality, you nothing to say? Haha. Previously say until so garang that cannot let people spread false rumours about the company he work in. Now nothing to say. Think you are just a small employee in SMM. I keep quiet lor, you are just a small fry.

 

Hawker80      ( Date: 26-Oct-2021 09:35) Posted:

bro you keep quiet la. 


TH play retailer, but you said its not TH fault.

dont forget your favourite dog quote. 

 
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stanleytay
Master
26-Oct-2021 09:40     
 
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People say your company work is poor quality, you nothing to say? Haha. Previously say until so garang that cannot let people spread false rumours about the company he work in. Now nothing to say. Think you are just a small employee in SMM. I keep quiet lor, you are just a small fry.

 

Hawker80      ( Date: 26-Oct-2021 09:35) Posted:

bro you keep quiet la. 


TH play retailer, but you said its not TH fault.

dont forget your favourite dog quote. 

 

stanleytay      ( Date: 26-Oct-2021 08:44) Posted:

You have to ask the people like chart expert, ckmpd..
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ckmpd1
Supreme
26-Oct-2021 09:36     
 
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 Alert Admin 		To help cover high fixed costs, is SMM' s mgmt  desperate to take the silly step and bid low for projects which will result in losses at project completion?

This is one strategy which desperate mgmt may take .  Winning a contract is nothing to cheer about.  It is whether the contract can result in profits 
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Hawker80
Senior
26-Oct-2021 09:35     
 
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 Alert Admin 		bro you keep quiet la. 


TH play retailer, but you said its not TH fault.

dont forget your favourite dog quote. 

 

stanleytay      ( Date: 26-Oct-2021 08:44) Posted:

You have to ask the people like chart expert, ckmpd...

TigerPlay      ( Date: 26-Oct-2021 08:17) Posted:

But KC kenna sued over 1 bililion SGD, will collapese or not today the share price or no effect at all
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