Creon Share Discussion Threads

[xcap] 31/7/2013 22:09

Nap - very well done
fantastic reading!
look at the presentation: hxxp://www.seadrill.com/stream_file.asp?iEntityId=1483

Patience is needed here. We are, imho, in for serious value here.

[napoleon111] 31/7/2013 16:02

Hamilton, Bermuda, July 31, 2013 - Seadrill Limited ("Seadrill" or "the Company") has entered into new contracts for the construction of two high specification jack-up drilling rigs at Dalian Shipbuilding Industry Offshore Co., Ltd. (DSIC Offshore) in China. The newbuild rigs are scheduled for delivery during the second and third quarters of 2016, and the total project price per rig is approximately US$230 million (including project management, capitalized interest, drilling and handling tools, spares and operation preparations), with tail-heavy payment terms.

The two new units will be based on the F&G JU2000E design, with water depth capacity of 400ft and drilling depth of 30,000ft. Seadrill now has in total ten jack-ups under construction at DSIC Offshore of which two are scheduled for delivery in 2013, five in 2015 and three in 2016.
Seadrill's construction program now totals 24 units, including 9 drillships, 2 harsh environment semi-submersibles, and 13 high specification jack-ups. In addition the Company has fixed priced options for two ultra-deepwater units.
The Board of Seadrill is of the opinion that the premium jack-up segment continues to provide a compelling investment thesis. The global jack-up market is at an inflection point as approximately 60% of the global contracted fleet is built before 1993. Almost 100 newbuild jack-ups have been delivered since 2005. However in the last two years we have seen increased utilization and the number of stacked rigs decline to multi-year lows. Utilization rates have exceeded 90% while average dayrates, unmet demand and average contract lengths have all increased.
Newbuild activity has increased in response to the industry's calls for additional demand and more capable units. We are of the opinion that the current orderbook falls well short of adequately supplying oil company needs going forward. Currently, the orderbook stands at approximately 115 units of which approximately 50% are not competitive on a global basis. Most of these uncompetitive units are either low specification or destined for markets with regional factors that will limit their global mobility.
Tender activity continues to be robust with a significant increase over the last six months. We have experienced increased inquiries primarily in Latin America, the Middle East, and West Africa. Our customers continue to shift their focus toward higher specification jack-up rigs and the benefits in terms of efficiency and safety that these units deliver. Not only are operators high-grading their fleet for the short term, but also increasing the duration of contracts, a trend which speaks to the scarcity value of high specification units.
Seadrill is currently in specific discussions about long term chartering for several of our jack-ups. These discussions confirm a stronger day rate environment as well as longer contracting terms.
Per Wullf, CEO of Seadrill Ltd. says in a comment, "Seadrill has focused its' newbuild activity on the high end of all asset classes since the Company's inception in 2005. High specification units have historically commanded the highest dayrates and utilization rates and we fully expect this trend to continue. The market for high specification jack-up units is poised for a significant uplift in dayrates and we continue to invest in order to put Seadrill's shareholders in a prime position to benefit.
Seadrill's competitive advantage not only resides in its' assets, but also in its' demonstrated safety and operational and track records and the ability to win repeat business from industry leading customers. We are confident these factors, along with continued fleet growth, will contribute to our industry leading returns and ability to grow the dividend."

[napoleon111] 31/7/2013 16:01

anyone go to the agm? thanks ss, yes, 80% up today on men, strange times :)

[share_shark] 31/7/2013 14:26

Game on(we hope).

[share_shark] 31/7/2013 14:26

RNS AGM.


Creon Resources PLC
31 July 2013
Creon Resources Plc
("Creon" or "the Company")
RESULT OF ANNUAL GENERAL MEETING
The Directors of Creon Resources Plc (AIM: CRO) are pleased to announce that, at the Company's annual general meeting held earlier today, all resolutions were duly passed.
- Ends -
For further information please contact:

Creon Resources plc
Glen Lau, Chief Executive Officer Tel: [phone]
Tel: + 44 (0) 20 7583 8304
Daniel Stewart & Company plc
Nominated Adviser & Broker
Paul Shackleton Tel: + 44 (0) 20 7776 6550
About Creon Resources plc
Creon Resources Plc is an investment company whose policy is to invest principally, but not exclusively, in the resources and resources infrastructure sectors. Creon has a deep and broad global network and wide contact base in these sectors, including in East and South East Asia and the Middle East which it leverages to source and make investments. These sectors exhibit high growth and are strategically important. Creon is a proactive investor which assists its investee companies to grow by providing investment, expertise and contacts.
This information is provided by RNS
The company news service from the London Stock Exchange
END
RAGNKDDNBBKDKON

[share_shark] 31/7/2013 09:44

Mentum rising this am Nap.

[share_shark] 31/7/2013 09:39

I am still with you guys . Dont think I devote al my time elsewhere !. :-)))

Great work Nap. Keep up the good work.

SS

[napoleon111] 31/7/2013 09:11

Wednesday, July 24, 2013


Shipyards & Oil Services
Ranhill's Petronas license suspended; Nam Cheong seals $70mn vessel sales
contract; SBMO wins Shell's FPSO -24/7

)


[Image Removed]
Singapore/Malaysia Offshore & Marine News
* Nam Cheong secures contracts for sale of 3 vessels with a combined value
of US$70.5mn. The company will sell 2 PSVs and 1 Accommodation Work Barge
(AWB) PSVs are to be sold to EDT Offshore (Cyprus) and a leading oilfield
services company based in Asia respectively while AWB is to be sold to
Perdana Petroleum. Nam Cheong's order book now stands at RM1.5bn. Perdana
Petroleum has announced that AWBs will be acquired at a price of US$29.5mn
implying that PSVs are sold at a combined value of US$41mn. (Nam Cheong,
Perdana Petroleum July 23)
* Petronas has suspended license for Ranhill's subsidiary RWorley for an
indefinite period which implies that RWorley would not be allowed to
participate in Petronas' tenders and ongoing tenders which were to be
awarded to RWorley would be passed on to the next contender. It is
believed that suspension was linked to work done on Melaka regas terminal.
(Bloomberg, July 24)
* Singapore's Hallin Marine wins subsea construction contract from
Pertamina Hulu Energi for Lima platform off Java, Indonesia. (Upstream,
July 23)
China/Korea News
* Jiangnan Shipyard wins 3+2 gas carriers contract from Navigator Gas.
Value of the firm contract is US$138mn with delivery scheduled during 2015.
(Asiasis, July 22)
* Japanese yards are benefitting due to weaker yen leading to stronger
price competitiveness. According to Japan Ship Exporters' Association data,
Japanese yards have contracted a total of 166newbuilds for export of a
combined 7m gross tons, almost double from the same period a year ago.
(Asiasis, July 22)
Industry & Order News Flow
* SBM Offshore wins FPSO supply and lease contract from Shell for
deployment at Stones field in Gulf of Mexico. The contract includes an
initial period of 10 years with future extension options up to a total of
20 years. Total asset value of the FPSO is ~US$ 1 billion. Once installed,
it will be the deepest FPSO in the world. (Bloomberg, July 23)
* Sevan Drilling secures US$1.75bn bank facility and won't proceed with
planned bond issues. The bank facility is fully guaranteed by Seadrill.
(Bloomberg, July 23)
* GulfMark Offshore announces 2Q13 results: posts net profit of US$9.9mn.
The company expects to see improvement in North Sea day rates in 2H13
leading to a better business overall. (GulfMark Offshore, July 23)

* Petrobras is said to have rejected Saipem's US$1.4bn bid for
offshore gas pipeline that will transport gas from pre-salt basin to
coastal refineries. Saipem has been asked to lower its bid. Odebrecht
led group was the other bidder and had quoted a price of US$1.7bn.
(Bloomberg, July 23)
* Hornbeck Offshore will see all of its downstream segment's tug
and barge fleet focus more on offshore services. Genesis Energy
will acquire Hornbeck's active fleet of nine ocean-going tugs and
nine double-hulled tank barges. (Bloomberg, July 23)
* Seadrill wins US$150mn contract (including bonus and
mobilization fee) with Chevron China Energy for a 180 day ultra-
deepwater drillship charter. Delivery of drillship from Samsung is
expected in September 2013. Seadrill is also in 'advanced' talks with
a major oil company for a multi-year contract that would be in
direct continuation of this deal for the drillship. (Bloomberg, July 22)
* Chevron awards GBP550mn contracts for Alder and Rosebank
projects in UK North Sea. OneSubsea has been awarded subsea
equipment contract for Rosebank project while Technip, Aker
solutions and OneSubsea have been awarded contracts on Alder
projects. (Bloomberg, July 23)
* Haliburton posts 2Q net profit of US$677mn down 8.38% y/y. The
company remains optimistic about 2H and hopes to grow margins in
North American and other international business. (Upstream, July
22)
* Solstad Offshore wins contract extension for 3 different AHTS
with total contract extensions valued at NOK135mn. (Bloomberg,
July 22)
* Plexus Holdings wins GBP2.5mn contract from Statoil for supply
of surface exploration wellhead and mud line equipment services.
The contract period is estimated to extend over a two and a half
year period. (Upstream, July 22)
ASEAN Oil and Gas
* Qatargas sells first sport cargo to Petronas. The cargo will be
delivered at Melaka Regas terminal. Qatargas had earlier signed a
20 year long term contract with Petronas to deliver 1.5MT of LNG
per year. (Bloomberg, July 22)
* Preliminary results of study on hydraulic fracturing by US have
shown no proof that chemicals used in the fracking process leads
to contamination of groundwater. (Upstream, July 22)
* LNG Tankers on order or under construction have reached
highest levels since 2008 on anticipation of commissioning of
liquefaction facilities especially in Australia, says Bloomberg.
(Bloomberg, July 23)

* Halliburton: Solid 2Q13 Earnings, Numbers Moving Higher on
Eastern Hemi Margin Progression. (Link to full note)
* Korean Shipbuilding: Movement in ship prices led by eco-ship and
two-tier market. (Link to full note)
* China oil and gas: Diesel demand rebounded strongly in June;
natural gas supplies grew 12% Y/Y in 1H13. (Link to full note)
* Teekay Offshore Partners downgraded to Neutral. (Link to full
note)
* Global Oil & Gas Daily: ANP agrees to take future oil as guarantee:
OGX. (Link to full note)
* Oil Services & Equipment Digest: Integrated Services Well
Positioned with Another HAL EPS Raise. (Link to full note)
* FMC Technologies: Surface and Infrastructure Save the Day, but
Likely Not Enough for the Stock. (Link to full note)

[napoleon111] 31/7/2013 08:55

hi xcap, re the past few posts, the slow down in china could have a serious effect on a lot of sectors, not least the off shore services market. from a general shipping point of view the dry bulk/tankers market takes the brunt of it, whereas offshore rigs and the likes a little more resistant to global economic slowdown (aka china slowdown). In relation to CRO, a number of things are very clear, 1) they seem to have a very very good JV tie up, and 2) this share price is stupidly low regardless of what any one says...thats about it really, simples :)
picked up a few shares in 2 co's yesterday but kind of wishing i got a few more here, had to choose between a number of them!
2%, at that rate we will be a long time to get back to our highs :D but its all welcome

[xcap] 31/7/2013 08:27

sorry posted twice - too exciting!

[xcap] 31/7/2013 08:25

up 2% first thing, might be an interesting day :)

[xcap] 31/7/2013 08:25

up 2% first thing, might be an interesting day :)

[xcap] 30/7/2013 19:14

nap don't know what to make of all this
just glad we are in off shore jack up rigs

agm: 11.00 am at 201 Temple Chambers, 3-7 Temple Avenue, London EC4Y 0DT.

[napoleon111] 30/7/2013 16:33

Xinhua: News Analysis: Asia's shipping sector faces rough waters in H2
July 29 (Xinhua News Agency) -- News Analysis: Asia's shipping sector faces rough waters in H2
by Tan Shih Ming
SINGAPORE, July 29 (Xinhua) -- With low trade volume growth and greater capacity addition expected in the second half of the year, Asia's shipping sector will continue to face a difficult operating environment although experts see a silver lining for dry- bulk shipping.
Demand for Asian goods has been weak so far this year, with European imports down 2 percent year-on-year in first quarter, partially offsetting a 6.5 percent increase in imports to the U.S. West Coast.
Under such conditions, average spot rates on Asia-Europe trades had fallen 55 percent in second quarter, and even the freight rates of trans-Pacific lanes were off 15 percent on year, as the liner companies had to grapple with the knock-on effect of lower volume growth and greater capacity addition.
In the past six months, a structural overcapacity of container shipping and irrational competition among liners had forced the industry to dump prices even in the face of losses.
Weak demand growth should have thrown the gauntlet at the container shipping industry to respond by properly containing capacity deployment. But no carrier wanted to make the first move to withdraw capacity, for fear of handing customer accounts on a silver platter to competitors.
As market-share goals are still very important and carriers are extremely keen to retain their key customer accounts, industry competition remains intense and this has caused spot rates to weaken quickly so far this year.
For the rest of the year, there seem to be no turnaround in sight. CIMB Research forecast flat European imports and just 3 percent growth in U.S. imports for the full year.
While the latest International Monetary Fund forecasts for global Gross Domestic Product suggest that growth should accelerate from 3.1 percent in 2013 to 3.8 percent in 2014, which means there should be stronger container trade demand growth of 6 percent to 7 percent in 2014 and 2015, CIMB pointed out 6 percent to 7 percent annual trade growth is still weak relative to the double digits seen in the days before global financial crisis in 2008.
The outlook of freight rates will depend very much on the behavior of the individual liner companies. CIMB Research said that industry players will need to exercise collective discipline up to the extent of reducing capacity deployment on a global basis, instead of just relying on piecemeal sailing omissions to rise to the challenge.
Only if this happens can the sector hopefully expect more sustainable spot rate increases towards later this year and early next year, the CIMB said.
Among the doom and gloom, however, the forces of supply and demand appear to be more balanced for dry bulk segment, which may support the future rates in this segment.
The new build dry bulk tonnage is starting to slow appreciably. At the same time, demand for iron ore and coal shipments appears to be accelerating albeit off lower than trend levels.
For a long time seen as the "bad boy" of the broader shipping industry, dry bulk shipping market fundamentals stood out in stark contrast to its container liner peers during the last quarter.
The world's dry bulk fleet has only increased in size by 3 percent year-to-date, with demand for the cargoes of iron ore and steel from China expanding at a far more rapid pace stimulated by the lower price of imported ore and the China's very low port-head stockpiles.
Hence, Credit Suisse Research believed that the market is underestimating the improved performances expected to characterize most of the dry bulk shipping companies later this year.

[napoleon111] 30/7/2013 09:22

will be travelling home tomomrrow so wont make it, where is it being held?

[xcap] 29/7/2013 17:16

thanks nap
agm 31 july
anybody going?

[napoleon111] 29/7/2013 11:42

YANGZIJIANG Shipbuilding has won orders to build two 64,000 dwt bulk carriers for German owner Peter Döhle with options for two more, executive chairman Ren Yuanlin confirmed to Lloyd's List.

The two firm vessel orders are contracted at $26m apiece for delivery at the end of 2015. Altogether the Singapore-listed, China-based shipyard has won 29 firm newbuilding orders so far this year.

"Such price still offers some room to profit for us. The two options will be exercised in three months," Mr Ren said.

Hamburg-based Peter Döhle, a frequent customer at Yangzijiang, has two 4,957 teu containerships on order at the yard from an orderbook of nine ships, according to Clarksons.

Meanwhile, Yangzijiang has announced that it has renewed a one-year, $100m credit line with China Development Bank at a cheaper interest rate, despite the credit crunch that has squeezed financing for the country's shipyards.

Mr Ren said the interest rate is 3% per annum, 1% less than the original loan, backed by collateral of shares at Newyard Worldwide Holdings, a British Virgin Islands-registered vehicle that he owns.

The renewed credit is one of two secured loan facilities granted by CDB last July, according to exchange filings. The other is a three-year, $50m loan.

[share_shark] 26/7/2013 23:29

This is very interesting and I have posted this before.

This is an RNS by the company LEG. Have a read and provides, perhaps a very different slant on CRO.


TIDMLEG
RNS Number : 0713C
Legendary Investments PLC
11 April 2013
Legendary Investments PLC
("the Company")
11 April 2013
Investee Company Update
Creon Resources Plc Progresses Oil Rig Building and Enters Ferrous Metals Sector
Legendary is pleased to report that its investee company, Creon Resources Plc ("Creon") (AIM: CRO), the resource and resource infrastructure investment company, has entered the ferrous metals sector by acquiring a 49% equity interest in Singapore based MGR Resources PTE Ltd ("MGR").
MGR is a wholesale trader of ferrous metals and ore. It sources iron ore principally from Africa, India and the Middle East and sells on to buyers in East Asia including China.
In addition, to acquiring 49% of MGR for US$49,900, Creon has agreed to provide a three year 15% coupon convertible loan to MGR of up to US$1.95 million to assist MGR to increase its trading operations ("Convertible Loan"). The Convertible Loan can be converted at any time during the three year period at Creon's option into new shares in MGR at US$1 per new share.
Over the last several months, Creon has transformed itself.
Following the strengthening of its balance sheet in June 2012, Creon entered into a JV with China based shipbuilder, Yangzijiang Shipbuilding (Holdings) Pte Ltd, which is listed on the Singapore Stock Exchange (SP:YZJ) ("YZJ"). Creon and YZJ have a 40% stake in Jiangsu Yangzijiang Offshore Engineering Co. Ltd. ("YZJOE"), a jack up rig construction company.
In December 2012, YZJOE won its first contract (of US$170 million) to construct and deliver a Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig. Since then, YZJOE has secured licences for the Le Tourneau kit designs and the drilling package. Furthermore, construction of YZJOE's new rig yard is now well under way.
With the investment into MGR, Creon has expanded its activities into the ferrous metals sector. The Convertible Loan granted to MGR will provide income for Creon in the form of interest on the Convertible Loan.
Zafar Karim, Executive Chairman of Legendary, said "We are pleased with the rapid progress being made by Creon, our latest investment, in the oil rig building sector. The market in this sector is tight and supply has long lead times. Creon's entry into ferrous metals adds another leg to Creon's portfolio. Creon will earn a coupon from the Convertible Loan and MGR will, no doubt, be able to leverage off Creon's wide and deep contacts throughout East Asia, the Middle East and Africa. We look forward to further progress."
Further information is available at:

For further information, please contact:




.

[share_shark] 26/7/2013 23:22

Courtesy of akkrams LSE.

Creon Res /Yangzijiang Shipbuilding21 May '13New Yangzi Shipbuilding Wins Kamsarmax Bulkers

Yangzijiang Shipbuilding's subsidiary Jiangsu New Yangzi Shpbuiding Co., Ltd has recently conclued a newbuilding contract for the construction of five 82,000dwt Kamsarmax bulkers with Global Maritime Investments.
It if formerly rumored that GMS ordered four 82,000dwt units at Yangzijiang Shipbuilding and one same unit at Chengxi Shipyard. Howevera, according to Greek Callimanopulos group that the company has only ordered five 82,000dwt Kamsarmax bulkers at a cost of $27.0m apiece with a total value of $130.0m. The delivery schecule has not been disclosed.

GMI is one of biggest traders globally and boast a fleet of 60-80 vessesls, including 7 Capesize bulkers and more than 20 Panamax bulkers.



In July 2012, Creon made its first investment of US$15.3 million investment for 46.5% of a joint venture ("JV") with the multi-billion dollar China based shipbuilder, Yangzijiang Shipbuilding (Holdings) Pte Ltd, which is listed on the Singapore Stock Exchange (SP:YZJ) ("YZJ Holdings") in the offshore oil and gas infrastructure sector. The JV has a 40% stake in Jiangsu Yangzijiang Offshore Engineering Co. Ltd. ("YZJOE").

In December 2012, YZJOE entered into a US$170 million contract to construct and deliver one unit of a Le Tourneau Super 116E Class design self-elevating Mobile Offshore Jack up Drilling Rig.

[mike111d] 26/7/2013 16:44

I can recommend the Mandarin Oriental in Singapore.

[napoleon111] 26/7/2013 14:49

45/55 now the spread

[share_shark] 26/7/2013 14:35

:-)))))) Four seasons in Singapore perhaps?.

[napoleon111] 26/7/2013 14:34

looks like it ss

[share_shark] 26/7/2013 14:32

Plus a 1mill and 2.5mill buy Nap and Xcap.

Must be an order on the books now ?.