Latest Forum Topics / Mermaid Maritime Last:0.13 -0.002 | Post Reply |
Mermaid Maritime
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nickyng
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28-Nov-2007 14:08
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...haha..this is a golden opportunity for SHORT !! just did that 5x $1.91 !!! ..and with no regrets !!! HOPEFULLY !! :PP | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Pinnacle
Master |
28-Nov-2007 13:15
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Wow!!! Like taking rocket! If tonight DJ has a bad day, this is going to get hit very hard.
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livetrader88
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28-Nov-2007 11:18
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The reuters news help a bit... The chart look like a trough.... According to fibonacci, 1.86 is resistance and support is 1.73 |
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Pinnacle
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28-Nov-2007 10:51
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Singapore Hot Stocks-Mermaid Maritime up on broker note SINGAPORE, Nov 28 (Reuters) - Shares of Mermaid Maritime Macquarie Research said in a client note that it expects robust earnings for the oil rig firm because sustained high oil prices would keep demand for oil services high. "The combination of strong earnings growth, improving balance sheet, attractive valuation and significant upside makes Mermaid one of our top picks in Singapore," said Macquarie Research analyst Ashwin Sanketh. |
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Pinnacle
Master |
28-Nov-2007 09:42
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This is shooting for the sky.
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Pinnacle
Master |
28-Nov-2007 08:26
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Macquarie Research has started coverage of Mermaid Maritime PCL |
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178investors
Veteran |
26-Nov-2007 16:23
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kopi-kia, binoculars..... | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Pinnacle
Master |
15-Nov-2007 10:11
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For the year that ended on 30 September 2007, total sales and service income of the Company was Baht 4,131.27 million, an increase of Baht 963.91 million or 30.4%, from Baht 3,167.36 million for the year that ended on 30 September 2006. The higher net profit was primarily a result of strong performance in our subsea engineering group, including higher day rates and higher utilisation of our subsea assets, which was partially offset by lower than expected contributions from our drilling group as a result of rig downtime and a stronger USD/THB exchange rate, which resulted in a decrease in revenues, since revenues are primarily paid in US Dollars but converted to Thai Baht for reporting purposes. Gross profit was Baht 1,316.60 million, an increase of Baht 315.97 million or 31.6%. The slight increase in gross profit margin of 0.3% reflects the lower contribution from drilling as mentioned above. Operating profit was Baht 727.37 million, a decrease of Baht 41.53 million or 5.4%. The lower operating profit was a result of higher service and administrative expenses, which were primarily attributable to ongoing rig operating costs during its off-hire period and write offs of certain rig assets due to accidental damage. Net profit was Baht 541.08 million, including an unrealised exchange gain of Baht 114.49 million, as compared to Baht 538.34 million, including an unrealised exchange gain of Baht 149.67 million. The unrealised exchange gain primarily occurs from translation of US Dollar loans into Thai Baht at the year-end date, and occurs when the Thai Baht strengthens against the US Dollar. Excluding unrealised exchange gains, net profit increased by Baht 37.93 million or 9.8%. Business Segment Analysis Drilling: The drilling segment generated 30.0% and 16.9% of the Company?s total revenues and operating profits, respectively. During 2007, the Company?s drilling units, MTR-1 and MTR-2, had committed client contracts. Utilisation of MTR-1 for the year was 52.88%, which was the result of 191 offhire days as a result of the crane boom repair and special periodic survey in the first quarter and accidental damage in the third quarter. The special survey is a requirement of Bureau Veritas and American Petroleum Institute, the rig?s classification societies, and is undertaken every five years. Total accident-related asset write-offs and insurance deductibles amounted to US$ 2.25 million. MTR-1 was back in operation on 12 September 2007. Utilisation of MTR-2 for the year was 79.18%. The rig worked continuously until the fourth quarter, at which point the rig commenced a period of downtime to meet certain technical specifications and undergo special periodic survey. It is expected that MTR-2 will be back in operation in mid-January 2008. This downtime is a result of delays in receiving certain long lead time items to upgrade the rig based on our client?s specifications and completion of the special periodic survey. Subsea Engineering: The assets in our subsea engineering segment had a 77% utilisation rate during the year, and generated 69.4% and 98.6% of the Company?s revenues and operating profits, respectively. This strong performance was driven by rising day rates throughout the year, as well as higher utilisation across our fleet. These high utilisation rates are continuing in the first quarter 2008. |
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Pinnacle
Master |
07-Nov-2007 14:31
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This is really becoming like uni-asia.
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vincentlmc
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06-Nov-2007 09:22
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Does anyone knows when will the 2006/07 result be announced ? |
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Pinnacle
Master |
01-Nov-2007 17:01
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What is happening to this counter? It went up high this morning then late afternoon sudden drop to rock bottom. |
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Pinnacle
Master |
01-Nov-2007 09:02
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Look out for this counter today. BBs at play.
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Pinnacle
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31-Oct-2007 11:41
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This counter is moving up. But volume is low without any BBs buying in. Pure speculation play. |
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teeth53
Supreme |
30-Oct-2007 23:56
Yells: "don't learn through life, learn to grow with life " |
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Mermaid Last:1.89 Vol:10564k -0.16 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Pinnacle
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30-Oct-2007 16:31
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shortists are covering back now. Don't sell too cheaply to them! | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Pinnacle
Master |
30-Oct-2007 16:29
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This is dropping like uni-asia. |
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edwinders
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30-Oct-2007 16:28
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By Viparat Jantraprap and Wirat Buranakanokthanasan BANGKOK, Oct 30 (Reuters) - Thoresen Thai Agencies <TTA.BK>, Thailand's leading dry bulk shipping firm, said on Tuesday it expected to report 2006/2007 revenue growth next month due to higher freight rates and strong earnings at its oil rig firm. Rising freight rates, boosted by growing global trade and strong demand in China, would peak in 2007 as port congestion around the world should ease and help lower rates, managing director Chandchutha Chandratat told Reuters. "We will definitely report revenue growth for the fiscal year ended September 2007 due to higher freight rates and strong offshore oil rig earnings of Mermaid," Chandchutha, 41, said in an interview. "Early this year, we expected the rising demand for ships and the number of vessels should match," he said. "But problems of port congestion have driven freight rates much higher than their real values." The world fleet was likely to expand 7 percent this year, he said. The firm, which earns in dollars, expected profits to shrink in baht terms as the Thai currency would continue to strengthen again next year, Chandchutha said. The baht, which was at 33.97 to the dollar onshore <THB=TH> at 0623 GMT, has risen nearly 6 percent against the U.S. currency so far this year after a 14 percent rise last year. Chandchutha gave no earnings forecasts. Twelve analysts polled by Reuters Estimates forecast the company would report an 11.7 percent rise in revenues to 19 billion baht in its financial year ending Sept. 30 and a 12 percent rise in the fiscal year to September 2008. They expect the dry bulk shipper to report a 31 percent rise in net profit to 4.64 billion baht in the 2007 fiscal year and rise 28 percent in the next fiscal year. EXPANSIONS Thoresen Thai is 70-80 percent owned by foreign investors, including U.S. investment bank Goldman Sachs <GS.N>. It has 44 ships and competes with Precious Shipping <PSL.BK> and foreign rivals such as China's COSCO Pacific <1199.HK>. Its 55.29-percent owned Mermaid Maritime PCL <MMPC.SI>, an oil drilling ship operator, contributes about 10 percent of Thoresen's net profit. Average freight rates for the fiscal year 2006/2007 were expected to rise to $14,813 per vessel per day, up 33 percent from a year earlier, analysts said. Thoresen Thai planned to build four or five new vessels a year and expected the average age of its fleet to fall below 10 years over the next five years from 18 years now, said Chandchutha, a Berkeley MBA graduate. The company would finance its expansion by cash and bank loans and had raised $170 million from convertible bonds last month, enough to finance its expansion over the next three to five years, he said. It was looking to form joint ventures with Southeast Asian firms to help the expansion, he said. Last month, its Singapore-based subsidiary set up a Malaysia-based offshore drilling company with a wholly-owned subsidiary of Kencana Petroleumn <KENP.KL>. "We are working on two to three similar deals for both Thoresen Thai and Mermaid," he said. "Hopefully, we should be able to clinch deals with Southeast Asian firms this year or next year. We will not go far. We will focus on our businesses." Singapore-listed Mermaid, whose initial public offering last month that was more than 20 times oversubscribed, had no plans for a dual Singapore-Bangkok listing, Chandchutha said. At the midday break, Thoresen Thai shares were down 1.5 percent at 65.50 baht while the main Thai index <.SETI> was up 0.09 percent. In Singapore, Mermaid shares were down 5.37 percent at S$1.94 at 0640 GMT. ($1=33.99 Baht) ((Editing by Michael Battye; Reuters Messaging: viparat.jantraprapaweth.reuters.com@reuters.net; +662 648 9733)) Keywords: THAILAND TTA/OUTLOOK |
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edwinders
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30-Oct-2007 16:25
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Dropping like a fish....$1.860... Drop $0.190.....Red Alert!! | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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viruz7667
Senior |
24-Oct-2007 14:14
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wonder if is a good level to load some of this stocks...at 2.15 and below..comments? | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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kofuheng
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24-Oct-2007 12:28
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The Price seems to be dropping alot. Any1 know the reason? | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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