Blueray Hypersonic August 15, 2016 Share August 15, 2016 Vallianz earnings fall to US$4m in 2nd quarter ..... Vallianz is 25.15 per cent owned by Swiber, which filed a petition to wind up and liquidate itself last month after facing US$25.9 million of demands from creditors. It was eventually placed in judicial management. The firm, which provides offshore support vessels to the oil and gas industry, attributed its decline in profit due to a one-off impairment charge of US$1.6 million. ..... http://www.straitstimes.com/business/vallianz-earnings-fall-to-us4m-in-2nd-quarter ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Kusje Supersonic August 15, 2016 Share August 15, 2016 Is Kris energy next? Or will keppel save her? Link to post Share on other sites More sharing options...
Throttle2 Supersonic August 15, 2016 Share August 15, 2016 (edited) Sigh...... More jobs will be lost...... Edited August 15, 2016 by Throttle2 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic August 15, 2016 Share August 15, 2016 Vallianz earnings fall to US$4m in 2nd quarter ..... Vallianz is 25.15 per cent owned by Swiber, which filed a petition to wind up and liquidate itself last month after facing US$25.9 million of demands from creditors. It was eventually placed in judicial management. The firm, which provides offshore support vessels to the oil and gas industry, attributed its decline in profit due to a one-off impairment charge of US$1.6 million. ..... http://www.straitstimes.com/business/vallianz-earnings-fall-to-us4m-in-2nd-quarter More bad news .... Hopefully lesser of these news, else will have more turmoils that will lead to retrenchment and economy slowdown 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic August 15, 2016 Share August 15, 2016 More bad news .... Hopefully lesser of these news, else will have more turmoils that will lead to retrenchment and economy slowdown Been hearing losses all round more companies in this sector will be hardhit in the days to come. Look out, dont play play. 1 Link to post Share on other sites More sharing options...
tenyawph Turbocharged August 15, 2016 Share August 15, 2016 Oil prices are on fire - up 10% in just 3 days http://money.cnn.com/2016/08/15/investing/oil-prices-jump-opec-freeze/index.html 15 Aug 2016 Will this recent surge point to a near future strong recovery of crude oil prices? Many in the oil and gas sector are hurting....when will the bleeding stop....any rising crude oil prices are warmly welcomed by them. But it could be coming a little too late. 2 Link to post Share on other sites More sharing options...
tenyawph Turbocharged August 15, 2016 Share August 15, 2016 Is Kris energy next? Or will keppel save her? Here is your answer. "Fresh from the oven". But it looks like Keppel will rescue it, being its majority shareholder at 40.1%. KrisEnergy latest O&G firm to flag possible strain. http://www.businesstimes.com.sg/companies-markets/krisenergy-latest-og-firm-to-flag-possible-debt-strain 16 Aug 2016 Thanks to its affiliation with Keppel, according to Mr Raj, the firm found an opportunity with DBS, which waived the onerous elements imposed by the previous lenders and upsized the facility to US$148.3 million. "Keppel has been supportive every step of the way. They came in as pre-IPO investors. Then (came through) at the IPO and later, for the rights issue. We sleep better at night because of them," said Mr MacDonald. --------------------------------------------------- My advice is to keep away from O&G sector for the time being. 8 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic August 15, 2016 Share August 15, 2016 Oil prices are on fire - up 10% in just 3 days http://money.cnn.com/2016/08/15/investing/oil-prices-jump-opec-freeze/index.html 15 Aug 2016 Will this recent surge point to a near future strong recovery of crude oil prices? Many in the oil and gas sector are hurting....when will the bleeding stop....any rising crude oil prices are warmly welcomed by them. But it could be coming a little too late. My immediate concern --> will our petrol prices revise upwards very soon? 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic August 15, 2016 Share August 15, 2016 triple confirmed ... now all O&G got hope liao? hearsay ... the saudi is going to chut pattern soon ... My immediate concern --> will our petrol prices revise upwards very soon? Link to post Share on other sites More sharing options...
Kusje Supersonic August 16, 2016 Share August 16, 2016 (edited) triple confirmed ... now all O&G got hope liao? hearsay ... the saudi is going to chut pattern soon ... Remains to be seen. But I haven't found the Saudis to be logical about this refusal to cede market share (at the expense of revenue and profits). They've hurt themselves much more than they have hurt Iran which wasn't even relying on their oil revenues much anyway. Only reasonable explanation is that they are a us proxy to hurt Russian interests. Edited August 16, 2016 by Kusje 1 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic August 16, 2016 Share August 16, 2016 Remains to be seen. But I haven't found the Saudis to be logical about this refusal to cede market share (at the expense of revenue and profits). They've hurt themselves much more than they have hurt Iran which wasn't even relying on their oil revenues much anyway. Only reasonable explanation is that they are a us proxy to hurt Russian interests. Political agenda ... We are just at their mercy, that's all .... Link to post Share on other sites More sharing options...
The_Bear Turbocharged August 16, 2016 Share August 16, 2016 Here is your answer. "Fresh from the oven". But it looks like Keppel will rescue it, being its majority shareholder at 40.1%. KrisEnergy latest O&G firm to flag possible strain. http://www.businesstimes.com.sg/companies-markets/krisenergy-latest-og-firm-to-flag-possible-debt-strain 16 Aug 2016 Thanks to its affiliation with Keppel, according to Mr Raj, the firm found an opportunity with DBS, which waived the onerous elements imposed by the previous lenders and upsized the facility to US$148.3 million. "Keppel has been supportive every step of the way. They came in as pre-IPO investors. Then (came through) at the IPO and later, for the rights issue. We sleep better at night because of them," said Mr MacDonald. --------------------------------------------------- My advice is to keep away from O&G sector for the time being. Like KOM are in much better shape Link to post Share on other sites More sharing options...
Blueray Hypersonic August 20, 2016 Share August 20, 2016 Swiber's creditors can get insight into firm's finances next month..... The total sum of claims filed by creditors against the beleaguered oil services group has ballooned to some US$135.9 million (S$183 million) as of Thursday, the interim judicial managers reported yesterday. The judicial managers are in the process of verifying the accuracy and completeness of the fresh claims. The sums claimed against Swiber totalled US$25.9 million when Swiber sought to be put under judicial management (JM) last month. ..... http://www.straitstimes.com/business/companies-markets/swibers-creditors-can-get-insight-into-firms-finances-next-month Link to post Share on other sites More sharing options...
Ktglfc Hypersonic August 20, 2016 Share August 20, 2016 Swiber's creditors can get insight into firm's finances next month ..... The total sum of claims filed by creditors against the beleaguered oil services group has ballooned to some US$135.9 million (S$183 million) as of Thursday, the interim judicial managers reported yesterday. The judicial managers are in the process of verifying the accuracy and completeness of the fresh claims. The sums claimed against Swiber totalled US$25.9 million when Swiber sought to be put under judicial management (JM) last month. ..... http://www.straitstimes.com/business/companies-markets/swibers-creditors-can-get-insight-into-firms-finances-next-month Can see how much they can get .... Though may not have much left ... Link to post Share on other sites More sharing options...
Kusje Supersonic August 23, 2016 Share August 23, 2016 Another one! This time it is OUB. http://shipandbunker.com/news/apac/978768-uob-lists-itself-as-a-112m-creditor-of-searights United Overseas Bank (UOB) has listed itself as a $112 million creditor of Searights Maritime Services Pte Ltd (Searights), according to court papers obtained by Platts. As Ship & Bunker previously reported, last month Monjasa issued a winding up order against the troubled Singapore bunker supplierafter it failed to come to agreement on its outstanding debts. An initial hearing for that case took place on July 29, where UOB also listed itself as a creditor of $111,384,597.97 and S$920,084.42(about $681,000). The next hearing of the winding up petition is scheduled to be heard this Friday, August 26, 2016 by Justice Choo Han Teck.While the amount being claimed by Monjasa is not stated in publicly available records, the company previously told Ship & Bunker it is "within the range of USD$1-2 million." The Supreme Court website shows Monjasa is being represented by Oon & Bazul LLP, while Searights is currently listed as "unrepresented". As reported earlier, the former bunkering force who last year placed 12th on the Maritime and Port Authority of Singapore's list of top bunker suppliers by volume, officially ceased as an accredited bunker supplier at the end of last month, but it has been well known that Searights' financial problems has meant it has not been actively supplying for most of 2016. Link to post Share on other sites More sharing options...
Ktglfc Hypersonic August 23, 2016 Share August 23, 2016 Another one! This time it is OUB. http://shipandbunker.com/news/apac/978768-uob-lists-itself-as-a-112m-creditor-of-searights Not OUB, its UOB ... $112 mil is small as compared to DBS's swiber .... Though it may not be the only one ... Link to post Share on other sites More sharing options...
Kusje Supersonic August 23, 2016 Share August 23, 2016 Not OUB, its UOB ... $112 mil is small as compared to DBS's swiber .... Though it may not be the only one ... Sorry, always getting mixed up with those two abbreviations. Good thing they merged. 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic August 23, 2016 Share August 23, 2016 $100M here $100M there $100M everywhere ... then become $1B? Not OUB, its UOB ... $112 mil is small as compared to DBS's swiber .... Though it may not be the only one ... ↡ Advertisement Link to post Share on other sites More sharing options...
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