Shorties are active as they off-load some 17% of their net positions. Short positions on 3Jul was 55.5M has now reduced to 45.9M. What are they going to do next? Just wait and watch...
I'm trying to get some update but they're being tight-lipped. Either things have gone bad or they're just waiting for things to stabilize before confirming that 80% has been achieved.
I'm impressed Bumi Armada is making the announcement ON the day of the improvement, unlike previously where they waited more than a week. They must've gotten a stern internal warning from Bursa Malaysia.
Guys, regarding the TotalEnergies Cameia FPSO project, the trail has gone cold.
What I know for certain is Bumi Armada received a Conditional LOA (CLOA) last September. They have since built up the project management and engineering teams to execute the project.
As to when the award will become unconditional, it's not certain. Could be any day now, could be a few months down the road, or the project award may go to another company, or the project may be scrapped altogether.
My bet is on option 1 or 2, but again, nothing certain as of now.
We had so many fortune tellers who were saying 6 months la grandfather grandmother lol .In your face
mikeann
Reference is made to the announcements made by Bumi Armada Berhad ("Bumi Armada") on 2 June 2023 and 21 June 2023 respectively in relation to the unplanned shutdown of the Armada Kraken FPSO ("Kraken FPSO") owned by Bumi Armada’s wholly owned subsidiary, Armada Kraken Pte Ltd.
Bumi Armada wishes to announce that one HSP transformer has been reconditioned from the failed HSP transformer units. Following successful installation of the reconditioned HSP transformer on the Armada Kraken FPSO, it commenced operating on 20 July 2023 such that the vessel's operational performance has returned to approximately 90% of pre-shutdown levels.
Bumi Armada will continue to announce material updates as and when they are known.
Shapoorji Pallonji Oil & Gas (SPOG) has revived talks with IndianOil, BPCL and GAIL about taking gas from its proposed FSRU off Mumbai, buoyed by a temporary drop in LNG prices.
Since March 2023, SPOG has felt more confident about proceeding with the 5m t/y FSRU project and has been talking to the three off-takers about booking capacity. SPOG aims to finalise the offtake agreements within the next two or three months so that the FSRU can be ordered by December 2023.
"All the plans and drawings are ready," says a source. "Project construction can begin as soon as the offtake agreements are in place."
He adds that SPOG would initially offer a 3m t/y capacity for booking, which will slowly ramp up depending on the market's response. SPOG is keen on 15-year offtake agreements.
Congratulations all Longs in Armada. Thank you for those who brought the news, shared opinion or asked questions. I would definitely not sell now until it gets closer to 60. Revise catalyst list by NikiCheong.
SPOG wants the Mumbai FSRU to be operational by the fourth quarter of 2026 and is setting up the estimated Rs2690cr (8384m) project under a 30-year BOOT agreement signed with the Mumbai Port Trust on May 18 (2021). SPOG is in talks with "multiple shipyards” to secure a decommissioned LNG tanker with 170,000 cubic metres of storage capacity, converted to an FSRU equipped with membrane-type tanks and a regasification unit. A South Korean shipyard, either Samsung or Hyundai, will most likely be selected, given their track record of constructing membrane- spec FSRUs. SPOG expects the FSRU to be ready and delivered within 36 months of the order. Meanwhile, basic engineering has been done on the 400-metre-long jetty to be constructed on an island off Mumbai. Actual construction will most likely be done by SPOG group company Afcons which has sufficient expertise and experience. In June 2022, Italy's RINA Consulting bid the lowest in a tender to be SPOG's engineering consultant for the project, quoting Rs4.4cr ($628,000) and was formally appointed by Mumbai port in late November 2022.
Guys, act wisely. I mean LONG here !!! IB analysts will have to update their target prices. Some put 6 months of no production on Kraken. Reduced earnings significantly. This all has to be corrected. Give it a day or two. Selling now is hurting your own interest.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Max2838
494 posts
Posted by Max2838 > 2023-07-20 11:02 | Report Abuse
Shorties are active as they off-load some 17% of their net positions.
Short positions on 3Jul was 55.5M has now reduced to 45.9M.
What are they going to do next? Just wait and watch...