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cheongsl
    29-Oct-2013 12:37  
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Can it turn into next keppel corp?
 
 
cheongsl
    29-Oct-2013 12:33  
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Look attractive to me at this price :) 0.795
 
 
samson
    28-Oct-2013 11:23  
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COSCO Shipyard: good fight " wind ball" repairing Ruoshi significantly stronger among

Source: China Ship News 2013-10-28 10:24:31

2013, COSCO Shipyard Engineering Group Co., Ltd. to further increase the ship repair and conversion business to undertake efforts to play a high-tech ship conversion and repair strengths, so repairing production to achieve a higher grade modification, repair, more refined level, showing a weak market not weak sight. January to September, the company achieved a ship repair and marine engineering refit more than one billion yuan output value.

Modified atmosphere on the level of high-end business

Modification has always been COSCO Shipyard 's strengths, in 2013, the strength to play a more thoroughly in the ship repair market slump, hard to find a single case of Floating Production Storage and Offloading vessel (FPSO) conversion business to undertake, greatly ease COSCO Shipyard market tight to the enormous pressure. April 20, Dalian COSCO Japan's Mitsui Heavy modified for the " Song Jie" completed all the FPSO projects, smooth sailing, which is COSCO Dalian Shipyard successfully completed the eighth FPSO conversion project. This year, Dalian COSCO once appeared in three FPSO conversion boat at the dock while the spectacle.

In addition to FPSO conversion, the Nantong COSCO Shipyard assumed pipelay vessel refit, semi-submersible offshore rigs modification, are highlighted COSCO marine refit the absolute strength. April 23, Nantong COSCO Shipyard for the Helan Fan · Nordisk (Van Oord) company modified the shallow water pipelay vessel " Christie Grenada" (STINGRAY) No. of completion from the factory. Pipelay vessel is divided into two sections, two pipelay frame by a hinge connection, stand part of the structure all of API-5L-X52 welded pipe, pipe laying pipe main body by the composition, assembly and welding and other work involving The technical quality requirements are high. After more than three hundred day and night of fighting, the project construction workers to complete the 54 meters long, 12 meters wide, 4 meters high, weighing about 250 tons of pipe structure pipe laying device production. In addition, Nantong COSCO Shipyard has signed with the Norwegian Shipowners' 2 " SEWAN 300" cylindrical semi-submersible offshore platform life refit contract also marks Nantong COSCO Shipyard has formed a marine construction and offshore mutual modification promote a good situation.

Zhoushan COSCO Shipyard for the French company CMA CGM container ship refit 3 bulbous bow, but also the conversion business COSCO Shipyard in 2013 one of the highlights. Shipping companies on the face of energy conservation and environmental protection vessels increased demand, a great effort COSCO Zhoushan research bulbous bow modification techniques, and undertake to fly to France's three container ships bulbous bow conversion business. Among them, " Tuscaloosa" was bulbous bow conversion project involves the removal of the original bulbous bow weighs about 350 tons, about 290 tons steel structure modified parts. After testing and data comparison, bulbous bow modification " downsizing" , the maximum speed can ship remain unchanged, while saving fuel consumption, as owner bring significant economic benefits. After it has completed COSCO Zhoushan " Nabucco" and " Outlaw" was bulbous bow conversions. COSCO Zhoushan Shipyard still bulbous bow demolition of the old and install the new process, created a new bulbous bow will be the key to successful positioning technology, and constantly refresh the key modification works node records.

On the level of skilled repair business

Natural selection, survival of the fittest. Ruoshi years of ship repair, especially persistent low prices, a serious test of the viability of ship repair enterprises. In this case, the ship repair companies only improve their management level, tap their own potential to meet the needs of the owner, so as to realize their own survival and development. This year, COSCO Shipyard various enterprises through Chengxiu Hai on an oil rig, offshore engineering vessels, chemical tankers and other high-tech products, enhance the comprehensive management capabilities, innovative construction technology, improve management service capabilities, making the process technology and quality control capability been effectively improved.

September 5th, Dalian COSCO Shipyard repairs as CNOOC offshore oil drilling platform " Bohai on the 7th," finished sail. Various maintenance works on the platform, the most difficult construction is four legs a sand pile and sales eye welding and grinding, you need erection total height of 75 meters and a height of 57 meters of scaffolding high scaffolding, which is Dalian COSCO Ship Since the construction works tallest scaffold erection. To ensure construction safety, the project team has in scaffolding before the former Dismantling held by former Planning Council of Safety Supervision Department detailed identification of the sources of risk, developed a comprehensive anti-collapse, fall protection and other risk prevention measures, and a reasonable set of scaffolding construction protection zone and danger zone, sent guardianship, set the security channel, installing iron bridge plate protection against falling objects. Eventually, after two times scaffolding erection, high standards to complete four high pile leg scaffolding tasks.

This year in April, Nantong COSCO Shipyard usher repairing peak production, 11 while in the factory ship repair berths, dock digital resources of high tension. To tie in with the construction of the project launch, ships, ship repair needs downshift in transposition. In the full investigation of the ship production node, the company will be in a bold attempt to repair the ship, " Linden" and " Na Luoni" number two vessels tied up while moving files, reducing the conventional two-thirds of the action shifting berths and time and greatly reduce the production cost. In addition, COSCO Zhoushan Shipyard's ship repair capacity has also been the world's three largest container shipping carriers - Maersk of Denmark, Switzerland Mediterranean, to fly to France's highly recognized. According to statistics, by COSCO Zhoushan Shipyard has for Maersk repaired " Ake Silvio" number, " Margaret Reese," No. " Maggie" number, " Ke Madi" number, " Karui Ba" and " Mahlon " sign and many other vessels, repair quality by the shipowner praise.

In raising the level and quality of service, while COSCO Shipyard 's ship repair business is also the main " service card" , has won a large number of " repeat." COSCO Dalian Shipyard and Hanseatic Lloyd Schiffahrt GmbH KG first cooperation of its sister ship repair " Los Angeles" and " Oakland" sign in with a good repair technology and good service to win the trust of the owner after he won the Also a container ship owner repair works. Coincidentally, Nantong COSCO Shipyard Intensive French company CMA CGM container ship " ocean" number, its sister ship " Wangaratta" was also to the party. And has been " repeat" COSCO Zhoushan mostly known for its " turn heads" is a record high, according to incomplete statistics, in 2013 the first nine months of repair " repeat" accounted for 84.9%.

Enhance service capabilities to shipowners demand, has become the COSCO Shipyard important support for the development of ship repair business. March 29, LAURITZEN KOSAN A / S Company liquefied petroleum gas (LPG) ship " Kenrui Te" was entered Shanghai COSCO Shipyard repairs. In the 15-day repair period, the Shanghai COSCO Shipyard careful to do service work, especially in the engineering repairs demonstrated consciousness of active service, superb craftsmanship and scientific management and efficient way is to make shipowners amazed. Previously, Shanghai COSCO Shipyard has twice cooperation with the company, were accomplished, ship repair projects, has won the trust of the owner.

 

 

 
puahlt
    27-Oct-2013 21:52  
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fyi, cosco singapore revenue only 2% from shipping.

WanSiTong      ( Date: 27-Oct-2013 11:58) Posted:

Dry Bulk Shipping - Implications of the capesize crash

Written By Stock Fanatic on Friday, October 25, 2013 | 25.10.13


Capesize rates have plunged 41% from the recent high of US$42,211/day on 25 September to US$24,845 at yesterday?s close as the Chinese halt their restocking of iron ore for now. But supramax and handysize rates continued to rise 10-15% in the past month.

Although we are Neutral on the sector, we reiterate an Outperform on our top pick, Pacific Basin as we expect the rate uptrend for smaller vessel classes to continue in 4Q13. We also have Maybulk on Outperform but Underperforms on PSL and STX Pan Ocean due to continued losses from the core bulk shipping business.

What Happened
The recent capesize rally lasted 125 days from 24 May to 25 Sep and has resulted in an eightfold rise in capesize rates. The rally was supported by a 15% yoy rise in China?s Sep iron ore imports, backed by low iron ore inventories and strong crude steel production growth. While iron ore stocks are still very low, China?s restocking exercise may be over for now as Chinese finished steel prices have resumed their weakening trend due to overproduction, crimping profits for steel mills. 
Also, China?s electricity production fell 13% mom in Sep, suggesting slowing momentum in its energy-intensive heavy industry, which is dominated by state-owned firms and which led the summer rebound. Also, while Chinese property prices continue to rise, property inventories continue to increase and recent rates of construction cannot be sustained as property sales are barely higher than they were a year ago.

What We Think
Share prices of dry bulk companies have done well since end-Jun when the capesize rally began. They have kept most of their gains in the past month despite the decline in capesize rates. But the market may no longer look so kindly on companies with capesize exposure (e.g. China Cosco or China Shipping Devt) or on other stocks which have exceeded their underlying SOP valuations.

What You Should Do
Pacific Basin is safe as it continues to trade at a significant discount to its underlying SOP. Should its share price fall with the capesize rate collapse, it would be a perfect opportunity for investors who have not participated in the past four months? rally to enter the stock. Pacific Basin does not own a single capesize vessel. (Read Report)


 
 
Hawkeye
    27-Oct-2013 15:39  
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COSCO (Singapore) Pte Ltd



COSCO (Singapore) Pte Ltd has an established presence in the dry bulk shipping business.  Currently comprising a fleet of 10 dry bulk carries with a total carrying capacity of 550,978 DWT, our ships ply global trading routes, transporting cargo sunch as iron ore, coal,steel,cement and fertiliser to major ports worldwide. These dry bulk carriers are chartered out to other ship owners and operators, and serve our large clinet base of shipping companies from Germany,Norway,Denmark,Greece,Switzerland,UK,USA and others. COSCO's fleet meets the most stringent inernational quality and safety standards, and has been awarded with an ISO9002 certification.


Hawkeye      ( Date: 27-Oct-2013 14:45) Posted:



HANDYMAX  (40,000 to 50,000 DWT) or SUPRAMAX (50,000 to 60,000 DWT) are naval architecture terms for a bulk carrier, between 35 000 and 60 000 DWT
The architecture is not defined for maximum route (as Panamax and Suezmax is), but the term is used in shipping capacity markets. These smaller ships usually have self-loading capacity.
A handymax ship is typically 150?200 m in length, though certain bulk terminal restrictions, such as those in Japan, mean that many handymax ships are just under 190 meters in overall length. Modern handymax and supramax designs are typically 52 000-58 000 DWT in size, have five cargo holds, and four cranes of 30 tonnes lifting capacity.


Daily Market:  This page contains the latest Dry Bulk Shipping  News


25 October 2013

Baltic Dry Index (BDI)      -37     1671
Rates

BCI

(Cape index)

BPI

(Panamax index)

BSI

(Supramax index)
INDEX

2681

-94

1904

-55

1258

+6



SPOT 4 TCE AVG
(USD)

21363

-984

15219

-438

13150

+55

YESTERDAY (USD)

22347

15657

13095

YEAR AGO (USD)

16842

6424 7304

 

 


Hawkeye      ( Date: 27-Oct-2013 14:41) Posted:



Hi Wan Si Tong,

Why all the negative news on Cosco Singapore and no good news from you on good Cosco Singapore News. Please lah be balance lah. Money cow comment!

You are not paying attention on Cosco Singapore Dry Bulk Shipping - Supramax (60,000ton dwt) continue to rise and Cosco Singapore 12 in operation is all Supramax (about 650000dwt) Cosco Singapore is benefiting from Dry Bulk Shipping although other are dropping. Why? China is using their own ships.

 


 
 
Hawkeye
    27-Oct-2013 14:45  
Contact    Quote!


HANDYMAX  (40,000 to 50,000 DWT) or SUPRAMAX (50,000 to 60,000 DWT) are naval architecture terms for a bulk carrier, between 35 000 and 60 000 DWT
The architecture is not defined for maximum route (as Panamax and Suezmax is), but the term is used in shipping capacity markets. These smaller ships usually have self-loading capacity.
A handymax ship is typically 150?200 m in length, though certain bulk terminal restrictions, such as those in Japan, mean that many handymax ships are just under 190 meters in overall length. Modern handymax and supramax designs are typically 52 000-58 000 DWT in size, have five cargo holds, and four cranes of 30 tonnes lifting capacity.


Daily Market:  This page contains the latest Dry Bulk Shipping  News


25 October 2013

Baltic Dry Index (BDI)      -37     1671
Rates

BCI

(Cape index)

BPI

(Panamax index)

BSI

(Supramax index)
INDEX

2681

-94

1904

-55

1258

+6



SPOT 4 TCE AVG
(USD)

21363

-984

15219

-438

13150

+55

YESTERDAY (USD)

22347

15657

13095

YEAR AGO (USD)

16842

6424 7304

 

 


Hawkeye      ( Date: 27-Oct-2013 14:41) Posted:



Hi Wan Si Tong,

Why all the negative news on Cosco Singapore and no good news from you on good Cosco Singapore News. Please lah be balance lah. Money cow comment!

You are not paying attention on Cosco Singapore Dry Bulk Shipping - Supramax (60,000ton dwt) continue to rise and Cosco Singapore 12 in operation is all Supramax (about 650000dwt) Cosco Singapore is benefiting from Dry Bulk Shipping although other are dropping. Why? China is using their own ships.

 

WanSiTong      ( Date: 27-Oct-2013 11:58) Posted:

Dry Bulk Shipping - Implications of the capesize crash

Written By Stock Fanatic on Friday, October 25, 2013 | 25.10.13


Capesize rates have plunged 41% from the recent high of US$42,211/day on 25 September to US$24,845 at yesterday?s close as the Chinese halt their restocking of iron ore for now. But supramax and handysize rates continued to rise 10-15% in the past month.

Although we are Neutral on the sector, we reiterate an Outperform on our top pick, Pacific Basin as we expect the rate uptrend for smaller vessel classes to continue in 4Q13. We also have Maybulk on Outperform but Underperforms on PSL and STX Pan Ocean due to continued losses from the core bulk shipping business.

What Happened
The recent capesize rally lasted 125 days from 24 May to 25 Sep and has resulted in an eightfold rise in capesize rates. The rally was supported by a 15% yoy rise in China?s Sep iron ore imports, backed by low iron ore inventories and strong crude steel production growth. While iron ore stocks are still very low, China?s restocking exercise may be over for now as Chinese finished steel prices have resumed their weakening trend due to overproduction, crimping profits for steel mills. 
Also, China?s electricity production fell 13% mom in Sep, suggesting slowing momentum in its energy-intensive heavy industry, which is dominated by state-owned firms and which led the summer rebound. Also, while Chinese property prices continue to rise, property inventories continue to increase and recent rates of construction cannot be sustained as property sales are barely higher than they were a year ago.

What We Think
Share prices of dry bulk companies have done well since end-Jun when the capesize rally began. They have kept most of their gains in the past month despite the decline in capesize rates. But the market may no longer look so kindly on companies with capesize exposure (e.g. China Cosco or China Shipping Devt) or on other stocks which have exceeded their underlying SOP valuations.

What You Should Do
Pacific Basin is safe as it continues to trade at a significant discount to its underlying SOP. Should its share price fall with the capesize rate collapse, it would be a perfect opportunity for investors who have not participated in the past four months? rally to enter the stock. Pacific Basin does not own a single capesize vessel. (Read Report)



 

 
Hawkeye
    27-Oct-2013 14:41  
Contact    Quote!


Hi Wan Si Tong,

Why all the negative news on Cosco Singapore and no good news from you on good Cosco Singapore News. Please lah be balance lah. Money cow comment!

You are not paying attention on Cosco Singapore Dry Bulk Shipping - Supramax (60,000ton dwt) continue to rise and Cosco Singapore 12 in operation is all Supramax (about 650000dwt) Cosco Singapore is benefiting from Dry Bulk Shipping although other are dropping. Why? China is using their own ships.

 

WanSiTong      ( Date: 27-Oct-2013 11:58) Posted:

Dry Bulk Shipping - Implications of the capesize crash

Written By Stock Fanatic on Friday, October 25, 2013 | 25.10.13


Capesize rates have plunged 41% from the recent high of US$42,211/day on 25 September to US$24,845 at yesterday?s close as the Chinese halt their restocking of iron ore for now. But supramax and handysize rates continued to rise 10-15% in the past month.

Although we are Neutral on the sector, we reiterate an Outperform on our top pick, Pacific Basin as we expect the rate uptrend for smaller vessel classes to continue in 4Q13. We also have Maybulk on Outperform but Underperforms on PSL and STX Pan Ocean due to continued losses from the core bulk shipping business.

What Happened
The recent capesize rally lasted 125 days from 24 May to 25 Sep and has resulted in an eightfold rise in capesize rates. The rally was supported by a 15% yoy rise in China?s Sep iron ore imports, backed by low iron ore inventories and strong crude steel production growth. While iron ore stocks are still very low, China?s restocking exercise may be over for now as Chinese finished steel prices have resumed their weakening trend due to overproduction, crimping profits for steel mills. 
Also, China?s electricity production fell 13% mom in Sep, suggesting slowing momentum in its energy-intensive heavy industry, which is dominated by state-owned firms and which led the summer rebound. Also, while Chinese property prices continue to rise, property inventories continue to increase and recent rates of construction cannot be sustained as property sales are barely higher than they were a year ago.

What We Think
Share prices of dry bulk companies have done well since end-Jun when the capesize rally began. They have kept most of their gains in the past month despite the decline in capesize rates. But the market may no longer look so kindly on companies with capesize exposure (e.g. China Cosco or China Shipping Devt) or on other stocks which have exceeded their underlying SOP valuations.

What You Should Do
Pacific Basin is safe as it continues to trade at a significant discount to its underlying SOP. Should its share price fall with the capesize rate collapse, it would be a perfect opportunity for investors who have not participated in the past four months? rally to enter the stock. Pacific Basin does not own a single capesize vessel. (Read Report)


 
 
WanSiTong
    27-Oct-2013 11:58  
Contact    Quote!

Dry Bulk Shipping - Implications of the capesize crash

Written By Stock Fanatic on Friday, October 25, 2013 | 25.10.13


Capesize rates have plunged 41% from the recent high of US$42,211/day on 25 September to US$24,845 at yesterday?s close as the Chinese halt their restocking of iron ore for now. But supramax and handysize rates continued to rise 10-15% in the past month.

Although we are Neutral on the sector, we reiterate an Outperform on our top pick, Pacific Basin as we expect the rate uptrend for smaller vessel classes to continue in 4Q13. We also have Maybulk on Outperform but Underperforms on PSL and STX Pan Ocean due to continued losses from the core bulk shipping business.

What Happened
The recent capesize rally lasted 125 days from 24 May to 25 Sep and has resulted in an eightfold rise in capesize rates. The rally was supported by a 15% yoy rise in China?s Sep iron ore imports, backed by low iron ore inventories and strong crude steel production growth. While iron ore stocks are still very low, China?s restocking exercise may be over for now as Chinese finished steel prices have resumed their weakening trend due to overproduction, crimping profits for steel mills. 
Also, China?s electricity production fell 13% mom in Sep, suggesting slowing momentum in its energy-intensive heavy industry, which is dominated by state-owned firms and which led the summer rebound. Also, while Chinese property prices continue to rise, property inventories continue to increase and recent rates of construction cannot be sustained as property sales are barely higher than they were a year ago.

What We Think
Share prices of dry bulk companies have done well since end-Jun when the capesize rally began. They have kept most of their gains in the past month despite the decline in capesize rates. But the market may no longer look so kindly on companies with capesize exposure (e.g. China Cosco or China Shipping Devt) or on other stocks which have exceeded their underlying SOP valuations.

What You Should Do
Pacific Basin is safe as it continues to trade at a significant discount to its underlying SOP. Should its share price fall with the capesize rate collapse, it would be a perfect opportunity for investors who have not participated in the past four months? rally to enter the stock. Pacific Basin does not own a single capesize vessel. (Read Report)

 
 
samson
    26-Oct-2013 13:37  
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Cosco may secures deep water plv from petrofac cost us $550 million . Next week . They are 3 company sumit for is projects kepcorp . And cimc .
Cosco prices is the lower side .
 
 
samson
    26-Oct-2013 00:41  
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English version

Global marine engineering industry trend showing transfer to China

Source: Xinhua Dalian 2013-10-25 13:50:38 

October 23 electric Following COSCO Shipyard Group Co., Ltd. for the design and construction of the Singapore Energy Drilling Company marine auxiliary drilling rigs Edrill-1 (N490) was launched successfully, the company recently was awarded jackup drilling platforms and other orders. Yuhang Wang, general manager, said the recent 2012 China offshore industry has developed rapidly, the global marine engineering industry has shown a trend to shift to China.

With the global marine industry to shift to China, relying on continued strong demand for marine engineering equipment and the development of marine industry in China advantage, China Ocean Engineering industry promising.

Yuhang Wang said that at present COSCO Shipyard in Dalian, Nantong, Zhoushan, Guangdong, Shanghai and many other shipyards to carry out marine operations, started the construction of offshore projects over 30, breaking the Europe, America, South Korea and Singapore and other countries monopoly on the market . Last year, COSCO Shipyard marine industry achieved a total sales income of 9.0 billion, next year is expected to achieve 14 billion yuan.

With the accelerated pace of global industrial transfer, the current marine equipment manufacturing section has basically shifted from Europe to Asia. South Korea and Singapore, two strong side by side, which accounted for 37% of global market share and 27%, while China and Brazil in recent years has demonstrated a strong chase momentum.

Data show that: From the early 2013 deadline to the end of August, a total turnover of 49 global platform will produce expected after September 20 platform. Platform mainly jackup drilling platform based, where China to undertake 28, for the first time over Singapore.

Dalian Shipbuilding Industry Offshore Engineering Co., Ltd., general manager Yinxue Lin said that Singapore in the semi-submersible drilling rigs and jack-up drilling platform built in a traditional field advantage, but currently under challenge from China.

He said the Dalian Shipbuilding Industry Offshore Engineering Co., Ltd. successfully constructed the world's top three deepwater drilling company Seadrill company two platforms Norwegian flag, international jack-up drilling platform construction center transferred to China, China has had with Singapore old shipyards to compete with Taiwan's strength.

Dalian Shipbuilding Industry Offshore Engineering Co., Ltd. The main products are self-elevating drilling platforms, has reached world advanced level, since 2003, there have been 18 delivered. Currently, the company orderbook 20.

Yinxue Lin said the company independent design 400 feet jack-up drilling platform has entered the international market. Now, China's production of jack-up drilling platform has accounted for about half of world production.

Yuhang Wang believes that South Korea and Singapore in the field of marine engineering equipment manufacturing supremacy, dominance will face the challenge of developing countries like China. Meanwhile, American and European countries and developing countries in the field of marine engineering equipment manufacturing and technical cooperation will be more extensive and in-depth, this is the future development of offshore important feature of the market.

Yuhang Wang said that China has good infrastructure, including COSCO, including several shipyards are in the high-tech equipment, some success, with the direction of the high-end marine equipment condition. In addition, a growing number of Chinese equipment suppliers or joint ventures are in the development of equipment to the ocean, which causes an increasing proportion of domestic production.

 

 

 
samson
    26-Oct-2013 00:35  
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Cosco talks to drillship suitors



Cosco sources said numerous rig owners and contractors have shown interest in the large newbuild and have come to survey the unit at Coscoâ??s facilities in Dalian, northeastern China, where the drillship is being completed. Sources added that Cosco has been approached by buyers from North America...become clear late this year or early next. Cosco said that the unit is substantially completed, with the source confirming that Cosco will install

 
 
 
Hawkeye
    26-Oct-2013 00:03  
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Ya. I suspect there is a deal behind.

Dalian Deepwater Developer may be short of cash and business to pay for the largest drillship in the world.

 

ascend88      ( Date: 25-Oct-2013 21:20) Posted:

Funny .. It's the company that cancel the 500usd drillship right

 
 
New123
    25-Oct-2013 21:45  
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cosco will be a shinny star in time to come.should be heading up to $1.00 - $1.50 again
 
 
ascend88
    25-Oct-2013 21:20  
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Funny .. It's the company that cancel the 500usd drillship right
 
 
ascend88
    25-Oct-2013 19:49  
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COSCO (Dalian) Shipyard has entered into a contract with Dalian Deepwater Developer Ltd. for the construction of one LeTourneau Super 116E jack -up drilling rig.
Based on the LeTourneau Super 116E design, the rig will measure 70.09 metres in LOA, 62.8 metres in breadth, 7.92 metres in height.
Each spud leg will be 145.3 metres long. The rig will be capable of working in water depth of up to 350 feet and has a drilling depth of 30,000 feet.
The rig will have a crew of 120 and be classed by ABS. This is the third jack-up rig construction project COSCO (Dalian) has secured in 2013, following the two ordered by the British owner Foresight Limited.
The construction of the rig will begin in early 2014. The rig is scheduled for delivery in the 3rd quarter of 2015.
 

 
samson
    24-Oct-2013 16:19  
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Drilling Rig Sevan Louisiana Delivered from China  Posted on Oct 23rd, 2013

Drilling Rig Sevan Louisiana Delivered from China

Sevan Drilling ASA has today taken delivery of Sevan Louisiana from Cosco Quidong Shipyard (Cosco) in China.

Sevan Louisiana is Sevan Drilling?s third deep water drilling rig and will start the transit to the US Gulf of Mexico. It is expected that the rig will commence operation for LLOG Bluewater towards the end of Q1 2014, following completion of mobilization and certain additional equipment installations.

In connection with the delivery of Sevan Louisiana, the company has also closed and drawn USD 1,400 million of its new USD 1,750 million bank facility as announced on 23 July 2013. These fundshave been used to repay and settle the existing bank facilities related to Sevan Driller and Sevan Brasil and to settle the remaining installment and other payables to Cosco.

Sevan Drilling, October 23, 2013

http://worldmaritimenews.com/archives/96035/drilling-rig-sevan-louisiana-delivered-from-china/

 
 
 
Hawkeye
    23-Oct-2013 22:10  
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4th Sevan 650 is to be delivered next year 2nd Q 2014 http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=Announcement3rdYearDataByCompanyNameAndCategory& F=78279

ascend88      ( Date: 23-Oct-2013 21:24) Posted:

Sevan Drilling ASA has today taken delivery of Sevan Louisiana from Cosco Quidong Shipyard (Cosco) in China.
Sevan Louisiana is Sevan Drilling?s third deep water drilling rig and will start the transit to the US Gulf of Mexico. It is expected that the rig will commence operation for LLOG Bluewater towards the end of Q1 2014, following completion of mobilization and certain additional equipment installations.
In connection with the delivery of Sevan Louisiana, the company has also closed and drawn USD 1,400 million of its new USD 1,750 million bank facility as announced on 23 July 2013. These fundshave been used to repay and settle the existing bank facilities related to Sevan Driller and Sevan Brasil and to settle the remaining installment and other payables to Cosco.
Sevan Drilling, October 23, 2013

 
 
ascend88
    23-Oct-2013 21:24  
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Sevan Drilling ASA has today taken delivery of Sevan Louisiana from Cosco Quidong Shipyard (Cosco) in China.
Sevan Louisiana is Sevan Drilling?s third deep water drilling rig and will start the transit to the US Gulf of Mexico. It is expected that the rig will commence operation for LLOG Bluewater towards the end of Q1 2014, following completion of mobilization and certain additional equipment installations.
In connection with the delivery of Sevan Louisiana, the company has also closed and drawn USD 1,400 million of its new USD 1,750 million bank facility as announced on 23 July 2013. These fundshave been used to repay and settle the existing bank facilities related to Sevan Driller and Sevan Brasil and to settle the remaining installment and other payables to Cosco.
Sevan Drilling, October 23, 2013
 
 
ascend88
    23-Oct-2013 14:37  
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yeah...i agree...takes a few try...no worries....

New123      ( Date: 23-Oct-2013 12:23) Posted:

need a strong push to cross over 84 cents in order to go higher..

ascend88      ( Date: 21-Oct-2013 16:20) Posted:

yeah....thats why i was waiting to load more....and i nvr sold those i got in 70+c range....


 
 
ascend88
    23-Oct-2013 14:34  
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i am still waiting .....:)

ascend88      ( Date: 21-Oct-2013 16:29) Posted:

where is 46 cents !!!

 
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