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earlybird14 Supreme	18-Nov-2015 15:41        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Problem is not just 1 but 5 similar case. How about petrobras 4billion order, also a big question mark. If contract is not signed in favour with shipyards or proper progressive payment, SSM is going to be trouble. How can a 80-90% complete jackup rig only receive 10% payment? This should be an alarm to SSM shareholders although it is too late. Will see SSM below 2 so long as oil price don' t recover to 60 above in 2016. Qanghoo      ( Date: 18-Nov-2015 15:33) Posted: Only thing is, unlike iphone, this one cannot exchange one for one leh.  I share the view that mp is probably  trying to find an exit door, but we can never be sure what the court' s decision' s gonna be.  Mkt is like this - so long as there' s uncertainty hanging over a coy, share px will usually  face an overhang.  earlybird14      ( Date: 18-Nov-2015 12:53) Posted: Don' t think so. It is hundred million contract, shipyards who are paying money upfront to build the rigs will have a lot T& C to protect them from owners cancellation from 1 side due to defects. Like buying 1 Iphone from apple, you find defects, they will either send the phone to repair or exchange 1 to 1 but never refund to you. So Marco Polo obviously is the one want to cancel the contract and naive to think that they can just walk away without paying anything for their speculating order.
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Qanghoo Supreme	18-Nov-2015 15:33        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Only thing is, unlike iphone, this one cannot exchange one for one leh.  I share the view that mp is probably  trying to find an exit door, but we can never be sure what the court' s decision' s gonna be.  Mkt is like this - so long as there' s uncertainty hanging over a coy, share px will usually  face an overhang.  earlybird14      ( Date: 18-Nov-2015 12:53) Posted: Don' t think so. It is hundred million contract, shipyards who are paying money upfront to build the rigs will have a lot T& C to protect them from owners cancellation from 1 side due to defects. Like buying 1 Iphone from apple, you find defects, they will either send the phone to repair or exchange 1 to 1 but never refund to you. So Marco Polo obviously is the one want to cancel the contract and naive to think that they can just walk away without paying anything for their speculating order. feedfrenzy      ( Date: 18-Nov-2015 09:52) Posted: i thought was rejected due to proo works by SMM?
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earlybird14 Supreme	18-Nov-2015 12:53        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Don' t think so. It is hundred million contract, shipyards who are paying money upfront to build the rigs will have a lot T& C to protect them from owners cancellation from 1 side due to defects. Like buying 1 Iphone from apple, you find defects, they will either send the phone to repair or exchange 1 to 1 but never refund to you. So Marco Polo obviously is the one want to cancel the contract and naive to think that they can just walk away without paying anything for their speculating order. feedfrenzy      ( Date: 18-Nov-2015 09:52) Posted: i thought was rejected due to proo works by SMM? ysh2006      ( Date: 18-Nov-2015 08:43) Posted: MP not yet given the cancell order but SMM say no face I cancelled first....maybe no refund of deposit...also can sell to other cheap cheap why not ? ...
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earlybird14 Supreme	18-Nov-2015 12:49        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	They know no point to push too harsh on their customers at this moment, maintain relationships and reputations are important in this market since an improper handling case may trigger more problems on other orders which are requsted to be postponed or cancelled as well. Majority of rig owners are having credit problem now, most important is to get back money as much as possible instead of sending them 1 by 1 to courts and jeopardise for years. Anyway, very tough moments to SMM.  ysh2006      ( Date: 18-Nov-2015 08:43) Posted: MP not yet given the cancell order but SMM say no face I cancelled first....maybe no refund of deposit...also can sell to other cheap cheap why not ? ... earlybird14      ( Date: 18-Nov-2015 07:00) Posted: http://sbr.com.sg/shipping-marine/news/persistent-troubles-jack-rigs-continue-hound-sembcorp Sembmar will be below 2 this time. Too many problems with them, hard for them to sell away all the rigs, sembmar may think to run a rig charterered company. Hehehe..
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feedfrenzy Veteran	18-Nov-2015 09:52        feedfrenzy About Contact  Quote this Post!
x 0   x 0  Alert Admin	i thought was rejected due to proo works by SMM? ysh2006      ( Date: 18-Nov-2015 08:43) Posted: MP not yet given the cancell order but SMM say no face I cancelled first....maybe no refund of deposit...also can sell to other cheap cheap why not ? ... earlybird14      ( Date: 18-Nov-2015 07:00) Posted: http://sbr.com.sg/shipping-marine/news/persistent-troubles-jack-rigs-continue-hound-sembcorp Sembmar will be below 2 this time. Too many problems with them, hard for them to sell away all the rigs, sembmar may think to run a rig charterered company. Hehehe..
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blurtrader Master	18-Nov-2015 09:31        blurtrader About Contact  Quote this Post!
x 0   x 0  Alert Admin	i do know SMM has a very strong legal team
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ysh2006 Supreme	18-Nov-2015 08:43        ysh2006 About Contact  Quote this Post!
x 0   x 0  Alert Admin	MP not yet given the cancell order but SMM say no face I cancelled first....maybe no refund of deposit...also can sell to other cheap cheap why not ? ... earlybird14      ( Date: 18-Nov-2015 07:00) Posted: http://sbr.com.sg/shipping-marine/news/persistent-troubles-jack-rigs-continue-hound-sembcorp Sembmar will be below 2 this time. Too many problems with them, hard for them to sell away all the rigs, sembmar may think to run a rig charterered company. Hehehe... earlybird14      ( Date: 18-Nov-2015 06:40) Posted: Do you see anybody cancel contract in good time even some defect found? Obviously this is 1 sided story, i think SMM will allow the cancellation but won't allow return the deposit. Furthermore, SMM allow 10% deposit only for a rig??? A cancellation for sure has made them suffer, now MP still want to take back 10%, where got such thing. MP share price is going to drop fierce if SMM reply strongly
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mrwise Supreme	18-Nov-2015 08:21        mrwise About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Time to let go...switch to NOL....
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earlybird14 Supreme	18-Nov-2015 07:00        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	http://sbr.com.sg/shipping-marine/news/persistent-troubles-jack-rigs-continue-hound-sembcorp Sembmar will be below 2 this time. Too many problems with them, hard for them to sell away all the rigs, sembmar may think to run a rig charterered company. Hehehe... earlybird14      ( Date: 18-Nov-2015 06:40) Posted: Do you see anybody cancel contract in good time even some defect found? Obviously this is 1 sided story, i think SMM will allow the cancellation but won't allow return the deposit. Furthermore, SMM allow 10% deposit only for a rig??? A cancellation for sure has made them suffer, now MP still want to take back 10%, where got such thing. MP share price is going to drop fierce if SMM reply strongly. edwinjup      ( Date: 18-Nov-2015 06:16) Posted: Think got 1 listed co sold their oil rig building contracts 1 year b4 complete at good profit....mp market cap only $70m..why order such a big oil rig for wat....if take in the oil rig..will be tough to get $ to pay smm....as it is 3-4x of its market cap....maybe good to sell the oil rig to saudi link co like vallianz ....as saudi still keep drilling non stop....lo
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earlybird14 Supreme	18-Nov-2015 06:40        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Do you see anybody cancel contract in good time even some defect found? Obviously this is 1 sided story, i think SMM will allow the cancellation but won't allow return the deposit. Furthermore, SMM allow 10% deposit only for a rig??? A cancellation for sure has made them suffer, now MP still want to take back 10%, where got such thing. MP share price is going to drop fierce if SMM reply strongly. edwinjup      ( Date: 18-Nov-2015 06:16) Posted: Think got 1 listed co sold their oil rig building contracts 1 year b4 complete at good profit....mp market cap only $70m..why order such a big oil rig for wat....if take in the oil rig..will be tough to get $ to pay smm....as it is 3-4x of its market cap....maybe good to sell the oil rig to saudi link co like vallianz ....as saudi still keep drilling non stop....lol edwinjup      ( Date: 18-Nov-2015 04:53) Posted: Sure know smm buay song.......actually can only blame then oil price.......if oil price $400.....incomplete also wan...so long can rent out and drill oil.....but now only 40.. lol
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earlybird14 Supreme	18-Nov-2015 06:36        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Marco pola bought it for speculation, no contract with them, now market is bad, find excuse to run. No so easy, those thing can be repaired or change a new one for them but spoil smm reputation, smm will not let go, smm is famous in fight with lawsuit till die like 2005 solitaire case, fight till vomit out few hundred million still fight till end. edwinjup      ( Date: 17-Nov-2015 20:35) Posted: Waiting for sembmar reply.......just wanna why take only 10% deposit....and now complete...people reject..wat will semb do??...think halt for 3 days.. maybe someone know the news already short..lol
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edwinjup Supreme	18-Nov-2015 06:16        edwinjup About Contact  Quote this Post!
x 0   x 0  Alert Admin	Think got 1 listed co sold their oil rig building contracts 1 year b4 complete at good profit....mp market cap only $70m..why order such a big oil rig for wat....if take in the oil rig..will be tough to get $ to pay smm....as it is 3-4x of its market cap....maybe good to sell the oil rig to saudi link co like vallianz ....as saudi still keep drilling non stop....lol edwinjup      ( Date: 18-Nov-2015 04:53) Posted: Sure know smm buay song.......actually can only blame then oil price.......if oil price $400.....incomplete also wan...so long can rent out and drill oil.....but now only 40.. lol
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Qanghoo Supreme	18-Nov-2015 05:54        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hahaha ..... if got money take back, anything also can.  No money take look for trouble lor.    That' s life lah.  edwinjup      ( Date: 18-Nov-2015 04:53) Posted: Sure know smm buay song.......actually can only blame then oil price.......if oil price $400.....incomplete also wan...so long can rent out and drill oil.....but now only 40.. lol
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edwinjup Supreme	18-Nov-2015 04:53        edwinjup About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sure know smm buay song.......actually can only blame then oil price.......if oil price $400.....incomplete also wan...so long can rent out and drill oil.....but now only 40.. lol
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Qanghoo Supreme	17-Nov-2015 21:19        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think SMM' s gonna humbly sing their way home with the penny boys soon.  Seems a funny thought.  But whether u believe it or not, seems to me that once sway luck strikes, it' s gonna stick for a long time.  For a start, may < 2 by end of this wk.  edwinjup      ( Date: 17-Nov-2015 20:35) Posted: Waiting for sembmar reply.......just wanna why take only 10% deposit....and now complete...people reject..wat will semb do??...think halt for 3 days.. maybe someone know the news already short..lol
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edwinjup Supreme	17-Nov-2015 20:35        edwinjup About Contact  Quote this Post!
x 0   x 0  Alert Admin	Waiting for sembmar reply.......just wanna why take only 10% deposit....and now complete...people reject..wat will semb do??...think halt for 3 days.. maybe someone know the news already short..lol
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spore1 Supreme	17-Nov-2015 20:29        spore1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	So tmr price may head South .Below $2.20 soon.No new contract + cancel order could be affecting their 4th qtr profit..
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granto Master	17-Nov-2015 20:04        granto About Contact  Quote this Post!
x 0   x 0  Alert Admin	Marco Polo cancels rig construction contract:  http://splash247.com/marco-polo-cancels-rig-construction-contract/
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edwinjup Supreme	17-Nov-2015 19:43        edwinjup About Contact  Quote this Post!
x 0   x 0  Alert Admin	Mp reject oil rig ..say due to defects.....think semb will fight for it.....i only wanna anyone short sembmar...before news out ....lol
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blurtrader Master	17-Nov-2015 15:59        blurtrader About Contact  Quote this Post!
x 0   x 0  Alert Admin	merger will end up KeppelSMM being a major player, order book around one thirth of the entire global order book   like said, it might or might not happen Qanghoo      ( Date: 17-Nov-2015 15:07) Posted: This sounds like a good one.  While I' d still take it with a pinch, may two pinches, of salt, I' d say it' s not that far-fetched either.  The potential synergies, cost savings n power of being a huge main  player in the forefront of the global rig-building business are immense.    I' d sometimes wondered why, in practical spore, we had thought it fit n necessary to have  two GLCs doing the same business n competing in this manner.  If such a merger does eventually take place, then my guess wld be in tte form of an offer from KC for Smarine.  So, for those brave souls who think can pok (I' m not one of them,  for now), maybe can start thinking  abt valuations .... but what wld it be?  Mil$ qn.  granto      ( Date: 17-Nov-2015 14:11) Posted: Keppel/Sembcorp merger and lots on Singapore maritime covered in this new magazine... Splash publishes definitive maritime guide to Singapore:  http://splash247.com/splash-publishes-definitive-maritime-guide-to-singapore/
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