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Sembmarine faster cheong arhhhhhhhhhh................
Sembcorp Marine (S51) – heading for 5.50 | Technical Analysis | Singapore Shares
This is the daily chart of Sembcorp Marine (S51). After a series of strong pushes, we saw it rise rapidly from below 4 dollars to over 5 dollars within 2 months, and is now poised to hit 5.50 after clearing the 200% Fibonacci extension resistance of 5.09.
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posted 14 feb 2012 ...
Ex-Petronas chief to helm Singapore power giant
February 15, 2012
Hassan has gone on to join the boards of several Singapore energy firms since leaving Petronas. — Picture courtesy of Sembcorp
KUALA LUMPUR, Feb 15 — Ex-Petronas CEO Tan Sri Hassan Marican is set to become chairman of Singapore Power Limited (SP) in June succeeding Ng Kee Choe who will retire on June 12, according to Energy Asia.
The news portal that focuses on the energy industry reported this yesterday, citing the island republic’s utility giant.
Marican, who left the national oil company at the beginning of 2010 allegedly due to friction with the Najib administration, has been accepting directorships with several foreign firms in the energy sector.
Among them are Singapore government-linked companies including SembCorp Industries Limited, SembCorp Marine Limited and Singapore Power, which he joined on February 15, 2011. He is also a director at Sarawak Energy Berhad and US oil and gas giant ConocoPhillips.
Marican, 58, was part of the board that had appeared to have clashed with Prime Minister Datuk Seri Najib Razak back in late 2009 over the appointment of a former senior aide as a Petronas director despite the prime minister having absolute powers in board appointments.
It was reported then that the former aide, Omar Mustapaha, was rejected twice and later appointed only after Najib had put his foot down.
Petronas had also decided not to sponsor the Malaysian-backed Lotus F1 Racing team, going instead with the Mercedes Formula One team.
Marican was widely credited with turning Petronas into the only other state-run major international player in the oil and gas space apart from Norway’s Statoil.
The former Petronas chief, who stepped down on February 2010 after 15 years with the company, was appointed a director with Singapore’s Sembcorp Industries in June of the year.
Marican’s flurry of overseas appointments also comes at a time when Malaysia is grappling with a chronic brain drain that threatens to derail its ambitions to become a developed country.
some said : some of the US BANKs are considered cheap to buy given slow recovery. as for locak bank
dare to dream target price for - OCBC - $14?
niuyear ( Date: 15-Feb-2012 11:31) Posted:
Yes Sir! Thank you and Noted on Sembmarine. :)
Shall we all dream Keppel , the big and strong brother, shld be a $20 stock in years to come?
p/s - The market was too 'negative' in year 2011 and coupled with the US's slow recovery, the $8 ,$9 price for keppel is way too cheap .
Jackpot2010 ( Date: 15-Feb-2012 10:21) Posted:
$5.40 is a piece of cake. $6 is most likely. citigroup & hsbc fiercely pushing sembmarine much higher. good luck. but keppel still sleeping......zzzzzzzzzzz |
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Yes Sir! Thank you and Noted on Sembmarine. :)
Shall we all dream Keppel , the big and strong brother, shld be a $20 stock in years to come?
p/s - The market was too 'negative' in year 2011 and coupled with the US's slow recovery, the $8 ,$9 price for keppel is way too cheap .
Jackpot2010 ( Date: 15-Feb-2012 10:21) Posted:
$5.40 is a piece of cake. $6 is most likely. citigroup & hsbc fiercely pushing sembmarine much higher. good luck. but keppel still sleeping......zzzzzzzzzzz |
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for those who dare to dream anything is possible, $10 can do (as citigroup n hsbc got strong muscle). give u an e.g. kepcorp's share split was 1-for-1 in 2007 & subsequent 1-for-10 in 2010, that means at today's price of $10.97 it is way above $20! who would hv dared to dream like that? oso haven't count bumper dividends yet.rotijai ( Date: 15-Feb-2012 10:24) Posted:
why stop at $6 when it can go up to $10?
2nd largest oil rig builder price cannot be only half f 1st largest oil rig builder price ?
*not a recommendation to buy or sell
Jackpot2010 ( Date: 15-Feb-2012 10:21) Posted:
$5.40 is a piece of cake. $6 is most likely. citigroup & hsbc fiercely pushing sembmarine much higher. good luck. but keppel still sleeping......zzzzzzzzzzz |
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why stop at $6 when it can go up to $10?
2nd largest oil rig builder price cannot be only half f 1st largest oil rig builder price ?
*not a recommendation to buy or sell
Jackpot2010 ( Date: 15-Feb-2012 10:21) Posted:
$5.40 is a piece of cake. $6 is most likely. citigroup & hsbc fiercely pushing sembmarine much higher. good luck. but keppel still sleeping......zzzzzzzzzzz |
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$5.40 is a piece of cake. $6 is most likely. citigroup & hsbc fiercely pushing sembmarine much higher. good luck. but keppel still sleeping......zzzzzzzzzzz
i aim 5.40, you are higher , i like/ ::)
daylight28 ( Date: 13-Feb-2012 21:04) Posted:
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will we see 6 dollar in the next few months ?? |
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will we see 6 dollar in the next few months ??
good run today.
plenty of accumulation at 5.08 and 5.13
Sembcorp Marine rated 'buy' by Maybank-Kim Eng
Maybank-Kim Eng Research in a Feb 7 research report says: Sembcorp Marine (SMM) has announced that its Brazilian shipyard has secured a contract worth approximately US$792.5 million from Séte Brasil for the design and construction of a drillship.
" SMM will announce its FY2011 earnings on Feb 23. We expect the group to cap off the year with another solid quarter on execution of its ongoing orderbook, and EBIT margins to be maintained at a healthy 17-18%. Our FY2011 net profit forecast stands at $733.7 million, which is ahead of consensus estimate of $711 million.
" SMM’s order backlog currently stands at around US$5.1 billion and we estimate another US$4 billion worth of new orders to be secured for FY2012 (excluding Petrobras). Sum-of-the-part-derived target price of $5.58 ($4.95 previously). MAINTAIN BUY."
Offshore staff
SINGAPORE – Estaleiro Jurong Aracruz has won a $792.5 million contract from Guarapari Drilling BV, the Netherlands, to design and build a drillship, based on Jurong Shipyard’s proprietary Jurong Espadon drillship design.
Guarapari is a subsidiary of
Sete Brasil Participacões S.A. (Sete Brasil).
The Jurong Espadon drillship will be capable of operating at 10,000 ft (3,048 m) water depth and drilling to depths of 40,000 ft (12,192 m), with accommodation for 180 personnel. Features will include a 40-m (131-ft) wide main deck, a large moon pool, DP3 capability, and azimuth thrusters for improved operability.
The vessel should be delivered by spring 2015.
Wong Weng Sun, president and CEO of Estaleiro Jurong’s owner Sembcorp Marine, said “This order not only represents the first drillship that our group is building for Brazil but it is also the first project secured by our new shipyard in Aracruz…We believe this order will be the first of many orders in
Sete Brasil’s ambitious drillship expansion program to develop the giant Brazilian presalt oil fields.”
Sembcorp Marine: First drillship win in Brazi (BUY, S$4.85, TP Under Review) - Flash
Jason Saw (6232 3871,
[email protected])
US$793m drillship contract from Sete Brasil. Early this morning, Sembcorp Marine (SMM)
reported that the company’s wholly owned Brazilian yard, Estaleiro Jurong Aracruz, has secured a
new drillship contract in Brazil from Sete Brasil valued at US$793m. News of the drillship win was
first reported in an Upstream article on 20 Jan 2012. We are positive on the new win: (1) a
successful execution of the drillship contract could lead to more such contracts for SMM in the
future. (2) The contract price is ~30% higher than drillship prices from shipyards in South Korea
and we think this provides sufficient buffer to cater for the additional risk of building a drillship in
Brazil. We are reviewing our earnings estimates and TP (previously S$5.25). More details will be
issued later. We maintain our BUY rating on the stock.
Earnings contributions from FY13 onwards rig to be delivered before 2Q15. The drillship for
Sete Brasil will be based on Jurong Shipyard’s proprietary Jurong Espadon design, which was
developed together with Norway-based consultant LMG Marin. The drillship is scheduled to be
delivered before 2Q15. SMM’s shipyard in Brazil is expected to be ready in early 2013 and we
expect the drillship contract to contribute to SMM’s earnings in FY13-15. Assuming 5% net margin,
we expect SMM to achieve S$52m net profit for the drillship contract over FY13-15.
Kim Eng
What’s cooking
Sembcorp Marine (SMM SP, $5.00, Buy, TP $5.58) – Sembcorp Marine (SMM) has announced that its Brazilian shipyard has secured a contract worth approximately US$792.5m from Séte Brasil for the design and construction of a drillship. The announcement confirms what industry newspapers have been reporting in the past two weeks. SMM’s share price has rallied in anticipation of the confirmation and with more positive news likely to come, we raise our target price to $5.58/share. Maintain Buy.
DBSV - Sembcorp Marine has secured maiden drillship order from
Petrobras worth US$792.5m. This is a major breakthrough on
several fronts. Our analyst has raised FY12F order wins to S$6bn
(prev S$4bn), and FY13F earnings by 4%. Maintain BUY, TP
lifted to S$5.75 (Prev S$ 4.60), on blended FY12/13F PE on
improved earnings visibility (prev 13x FY12F PE), while raising
the valuation peg to 16x (+0.5SD) on potential re-rating
catalysts from further Petrobras contracts and the return of
semisubmersible orders.
CIMB
Sembcorp Marine [ PDF ]
More than expected from Brazil
SMM SP / SCMN.SI | OUTPERFORM - Upgrade | Share Price S$4.85 - Tgt. S$6.28
Offshore & Marine | - by Siew Khee LIM
We upgrade SMM’s order win target to S$8bn from S$6bn for 2012 in view of more-than-expected drillships from Sete Brasil. The recent drillship contract won could be additional units awarded to fill the gap for delaying schedule from Estaleiro Atlantico Sul. We upgrade SMM to Outperform from Underperform, with a higher target price of S$6.28, now based on 18x CY13 P/E (from 10x). We upgrade our EPS by 5-6% for FY12-13 expecting at least six drillships orders from Petrobras, more than our original forecast.
Sembcorp Marine: News of drillship from Brazil confirmed
Summary: Sembcorp Marine (SMM) announced that it has secured a contract worth about US$792.5m from a subsidiary of Sete Brasil for the design and construction of a drillship based on Jurong Shipyard’s proprietary Jurong Espadon drillship design. Scheduled for delivery by 2Q15, the ultra-deepwater drillship will cater to the recent oil and gas discoveries in Brazil. Recently there has already been talk of SMM securing a drillship order, as newswires have reported of a potential win. It is possible that this drillship may be one of the seven that were previously awarded to the Estaleiro Atlantico Sul (EAS) shipyard in Feb last year where work has yet to be started. Meanwhile the contract value also falls within our estimates of US$700-800m per unit. Maintain BUYon SMM with S$5.63 fair value estimate. (Low Pei Han)
Semb marine is definitely an alternative buy to Kep Corp : D
The Wall Street Journal
Feb 7, 2012, 8.10am ET
Brazil Petrobras Expects To Sign FPSO Tenders In First Half 2012RIO DE JANEIRO (Dow Jones)--Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, expects to sign contracts to complete eight floating offshore oil platforms in the first half of 2012 as it ramps up efforts to develop recently discovered deep-water fields, the company said Tuesday. Petrobras will receive proposals Tuesday for building and integrating the processing modules for the eight floating production, storage and offloading vessels, known as FPSOs, that will be installed at fields in the BM-S-9 and BM-S-11 blocks in Brazil's Santos Basin, Petrobras said in an email. That's where a cluster of oil discoveries were made that have been estimated to hold 50 billion barrels of crude.
" At this time, only technical and commercial proposals will be received," Petrobras said. Each proposal will remain in a sealed envelope until it is studied by a commission established to evaluate the proposals, the company added. " The respective contracts will be signed yet during the first half [of 2012]."
The federal oil company said that it wouldn't comment further until the tender process is complete and the contracts are signed. Petrobras is overseeing the tender process on behalf of its partners in the two blocks, including BG Group (BRGYY, BG.LN), Galp Energia (GALP.LB) and Repsol Sinopec. The value of the FPSO tender has been estimated at between $5 billion and $7 billion. The eight FPSOs are clones, numbered P-66 to P-73, with the hulls under construction at a shipyard in Rio Grande do Sul state. The first platform, P-66, is expected to be completed by November 2013.
-By Jeff Fick, Dow Jones Newswires 55-21-2586-6085 [email protected]
On Tuesday, Sembmar broke the resistance at $4.97 and closed at $5.02 with LOW volume of 6.42 million shares traded.
During the past 10 bars, there have been 3 white candles and 7 black
candles for a net of 4 black candles. During the past 50 bars, there
have been 24 white candles and 23 black candles for a net of 1 white
candle.
RSI & MACD are turning bearish as MACD about to cross down.
Important Resistance of Sembmar: $5.15
Immediate Support of Sembmar: $4.97
Currently prices are well above 20/50/100/200 days MA.
Today SembMar just broke the ..............
READ MORE
SembMar: Citi maintains buy with $5.90 TP following latest drillship orderwin by Co. Note that this is the first drillship contract ever awarded to a SG yard and based on the yard’s own proprietary design. With SMM's maiden newbuild drillship contract from, believe there is increasing likelihood that more orders from the NOC will follow.
This also positions SMM very well to penetrate beyond its earlier target of 6-7 drillships from Petrobras since EAS – a local yard – is behind schedule in delivery and SMM may potentially take over a portion of its 7 drillship contract.
In house view, acceptance of this design represents a breakaway from the Korean shipbuilders in the drillship segment, particularly from Samsung Heavy whose design has dominated market share over the past cycle. Acceptance of this rig will also improve SMM’s marketability to international drillers and widen its addressable mkt.
