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CHEMOIL
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Citysky
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03-May-2007 23:30
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Should face a market adjustment test soon very much likely due to China Market again. Buy dip then. | ||||||||||||||||||||||||||||||
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victorf
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03-May-2007 16:35
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do not sell early and let it run till above $1 ...good luck | ||||||||||||||||||||||||||||||
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victorf
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02-May-2007 17:45
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buy on dip...not for contra and good luck | ||||||||||||||||||||||||||||||
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zhuge_liang
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01-May-2007 19:05
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With continuing strong demand for storage space here from oil traders, Chemoil is planning a further US$53 million ($80 million) tankfarm expansion even before its US$39 million Helios Terminal on Jurong Island is ready this year-end/early 2008. This will add 180,000 cubic metres, or an additional 40% capacity, to the 448,000 cu m Helios tankfarm now under construction, Robert Chandran, Chemoil's president and CEO, said on the sidelines of a energy talk. It is discussing details of the project - including land space - with the authorities, as sites on the petrochemical island are highly sought after by chemical manufacturers. Once the green light is given, construction can start on the expansion, which can be completed by mid-2008, he said. Conceding that building costs have risen significantly in the current construction boom, Mr Chandran, however, said that as infrastructure like jetties are already being built for the current Helios tankfarm, the expansion involving just additional storage tanks - for clean products like gasoline - will not be overly costly. It is looking at various financing options, including possibly a convertible bond issue, to fund the expansion, he added. |
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Citysky
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28-Apr-2007 23:24
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Guys, reminder, its initial IPO price was US$0.85. Hence, just buy and keep this counter inside your drawer, go and look for much more of such pearls. It is getting a challenge to fish good stuff like this in today's market. Try harder and good luck. |
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Happyseah
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27-Apr-2007 14:41
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Maybe a longer term is necessary... 2 years perhaps... Today(April 27th 2006) price is 78 cents. Let's see what price it will be at 2 years from now.... :) |
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victorf
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27-Apr-2007 09:33
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buy and hold for 1-6 months...will reach above $1 by then...good luck and not for contra | ||||||||||||||||||||||||||||||
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zhuge_liang
Supreme |
25-Apr-2007 20:46
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Chemoil Energy will start trading middle distillates and gasoline in this region by next year, its chief executive said on Wednesday. To facilitate the trades, the company is in talks with the government to expand its oil storage facility in Singapore by about 40%, bringing its total capacity to 630,000 cubic metres (cu m), by mid-2008, said Robert Chandran. "We have gotten board approval to go globally on clean products. We are looking to start trading in Singapore and Fujairah soon and in the midst of discussion," he told Reuters. The firm, the largest marine fuels supplier in the ports of Los Angeles and New York, started trading clean oil products in the United States two to three years ago, with monthly volumes of about 1.5 million barrels, Chandran added. Traders expect Chemoil's trading volumes for clean products to be comparable to the region's largest players such as BP, Vitol and Singapore trader Hin Leong, going by the size of its storage capacity of 180,000 cu m. The new capacity, which will cost US$53 million, is mainly for its own use and is located next to the facility that is under construction, Chandran said. "We are currently in talks with the Economic Development Board. If we get the approval for the land, we can begin construction immediately and the terminal will be operational within 12 months," he said. Chemoil is building a 450,000 cu m facility, mainly for dirty products such as fuel oil, on Jurong Island, slated to start operations by end this year. The company currently trades mainly fuel oil in Asia and is one of the largest suppliers in the Singapore marine fuels market, the world's largest. Chemoil supplies about 200,000-300,000 tonnes of bunker fuel monthly. It is also expanding into the Fujairah bunkers market, the second-largest in the world, following a joint-venture agreement with a Middle East trader, that will see the construction of a 326,000 cu m oil terminal by 2009. The expansion of Chemoil's tank storage is in line with the overall capacity growth in the city-state, which will more than double to about 12.32 million cu m by end-2008. |
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Happyseah
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25-Apr-2007 15:52
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'If Chandran gets his way, Chemoil will triple in size over the next five years and control a large fleet of oceangoing tankers.' That's why has to be patient with this stock...it's for the long term....buy and hold.... |
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Happyseah
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25-Apr-2007 15:34
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http://www.listedcompany.com/ir/chemoil/misc/Chemoil_tradewinds.pdf This will be more accurate.. |
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Happyseah
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25-Apr-2007 15:27
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CHEMOIL Jonathan Boonzaier Singapore You have to excuse the big smile on the face of Robert Chandran, president and chief executive of Chemoil, one of the world?s largest marine fuel-oil suppliers. The past year has been a very successful one for him. While shipping companies bemoan the negative effect record high bunker prices have been having on their bottom line, Chandran has been making record profits of $57.8m on an annual turnover of $4.3bn. If Chandran gets his way, Chemoil will triple in size over the next five years and control a large fleet of oceangoing tankers. After a successful initial public offering (IPO) on the Singapore exchange last December, Chandran, who took up Singaporean citizenship in 2005, has become the talk of the town ? his name was even mentioned as an example of the new breed of global players by Singapore?s second finance minister in a recent budget speech. He takes this in stride, claiming that most people could be successful in business if they just dream and go for it. "I encourage people to choose something that they are passionate about. The most successful people are the ones who follow this path rather than only think about what will make them the most amount of money in the shortest period of time," he said. Chandran?s story is a classic rags-to-riches tale. He left his native India for the US in 1976 at the age of 25. All he had was his passion for the oil industry and the goal to be a millionaire by the age of 30. He coupled that with a lot of determination and $10,000 he borrowed from his Filipino mother-inlaw. Chandran loves to tell the story of how, when studying at the Asian Institute of Management in the Philippines, he barely had enough cash to buy a cup of coffee at the school cafeteria. "My fellow students knew how poor I was. They laughed when I told them I was going to be rich," he said. Now Chandran can have the last laugh. His wealth, based on his family?s 45% stake in Chemoil, stands at over $300m. This does not take into account his private investments. Chandran founded Chemoil in 1981, shortly after he made his first million in the real-estate market at the age of 29. The company, in which Japan?s Itochu later took a 50% stake, has since grown The most important question shipowners say they would like to ask a marine fuel-oil supplier like Robert Chandran, is what they can expect to pay for bunkers in 2007. Chandran points out that crudeoil prices are the driving factor. He predicts that these prices will remain at between $55 and $65 per barrel but only if external factors remain stable. "I think shipowners can budget on crude prices averaging at $60 per barrel for the year, which would see bunker prices in Singapore at around $280 per tonne, Rotterdam at between $240 and $250 per tonne and New York at $250 to $270 per tonne," he said. As for his predictions about the overall marine-fuel industry, Chandran believes the industry is on the cusp of a major consolidation drive. Chandran tips consolida Robert Chandran:"My fellow students knew how poor I was.They laughed when I told them I was going to be rich." REASON TO SMILE: Chemoil president and chief executive Robert Chandran and a transfer of bunkers in progress. www.tradewinds.no 9 March 2007 TradeWinds 23 CHEMOIL one of the world?s largest independent bunker suppliers. From its initial start-up base in Los Angeles, it now operates out of Houston, Panama, New York, Rotterdam and Singapore, with Fujairah set to come onstream soon. Breaking into the highly competitive bunker market was no easy task for the company, which came into the market with precious few credentials. "What I did was push may way into the offices of some of the toughest shipping customers in the industry. I did for them what no other bunker supplier at the time was willing to so ? I guaranteed that I could meet the orders. After that, doors opened very quickly," Chandran said. Since its start-up, Chemoil has branched out beyond marine fuel oils. Today, it is also a major aviation fuel, gasoline and diesel supplier in the US. Chemoil has to compete against many other players ranging from oil majors that have bases across the world, to smaller players that have adopted a more regional focus. Oil prices are high and so is the financial commitment an operator needs to make to keep in the game. Chemoil continues to invest vast sums of cash to ensure its future as one of the market leaders. It has earmarked between $1bn and $2bn for asset investment over the next two years. This will include new or expanded terminals in Singapore, Fujairah and elsewhere. Chandran is keen for the company?s bases to establish an integrated approach to providing bunkers, maintaining full control and ownerships over the process from procurement to transport, storage and final delivery to the customer. "What we are looking to do is convert expenses into assets. By adopting the integrated method, such as we have done with the terminal in Los Angeles, we are able to double our margins from an average of $9 per tonne to $13.50. In this way, we can increase our profitability without any increase in volume. nkers boom After 25 years in the bunkering business, Chemoil president and chief executive Robert Chandran says he is still surprised with the lack of professionalism many companies show when it comes to procuring bunkers. He says it is time they adopt a far more sophisticated approach in sourcing their fuel-oil requirements. "Owners think that running a shipping business revolves around buying, selling and operating ships. Those are of course very important parts of the business but their bottom lines can still be blown away by the fuel costs," he said. It is a reality that many shipping companies have woken up to, judging by the numerous publicly listed operators that have cited increasing fuel costs as a major contributing factor to their diminished bottom lines in recent results briefings. Chandran believes owners need to change their thinking behind bunker procurement and work with their suppliers to find solutions. "In many companies, the finance department does the hedging, while the operations department does the purchasing. But there is little interaction between the two," said Chandran, who believes a more integrated approach is required. He credits companies such as AP Moller-Maersk and CMA CGM for bringing higher levels of sophistication to their bunker-procurement procedures. "These companies treat bunkers as a commodity and understand the economics of the fuel-oil business. They have done very well with hedging and made big money because they were able to take advantage of a rising market. Unfortunately, many other companies were caught on the other side of the fence in 2006," he explained. Chandran firmly believes the top managers of shipping companies need to play a far greater role in their bunker-procurement strategies. "It needs the highest level of decision making because of the high-risk levels involved," he said. Chandran also points out there are a lot of simple solutions that owners could deploy to bring down their fuel costs. Large containerships, for example, usually have a tank capacity to store enough fuel for 90 days of steaming. "I don?t see many operators taking advantage of this. Why not fill up the tanks when the costs are the cheapest," he said. Savvy owners get ahead "There are too many smaller players who will have difficulty financing their business needs," he said. Shipowners may not be happy about the prices they are currently paying for bunkers but if Chandran?s predictions about relative stability throughout the year come true, they will at least be spared the havoc that volatile prices in 2006 created on their bottom lines. ation move Photos: Jonathan Boonzaier Robert Chandran is keen to establish a fleet of oceangoing tankers to move fuel oil from refineries to the company?s depots around the globe to reduce the on average $70m chartering bill it incurs each year. The company uses its chartered tonnage, the bulk of which are products tankers, to ship crude from refineries to terminals worldwide. Chemoil is actively scouring the secondhand market for panamax, aframax and medium-range (MR) products tankers. Ideally, it wants at least two panamaxes, two aframaxes, four to five MR products tankers and between 20 and 40 bunker tankers. Chandran wants the company to buy ships sooner rather than later and hints that it is close to closing a deal for a panamax tanker. The vessels will be deployed almost exclusively on inhouse business. "We are not a shipping company. Oil will remain our core business but owning a fleet of tankers is the best way to hedge against paying charter fees," he said. Just last month, it agreed to take over a small fleet of tankers Chandran owns privately through offshore companies. The deal is scheduled to go before shareholders for approval in April. "When Chemoil was a 50/50 joint venture with Itochu, there was a policy that we would not operate vessels carrying dirty oil. This policy is no longer applicable now that we are a public company," he said. Chandran?s fleet consists of a panamax-tanker newbuilding, several 7,000-dwt bunker tankers, a VLCC that is deployed in a storage role off Singapore and a bulker converted from a combination carrier (OBO). The 73,000-dwt Ashley Sea, a coated products tanker under construction at New Century Shipbuilding in China, is due for delivery shortly. The ship will be used to carry Chemoil?s own cargoes, although Chandran hints that he could be persuaded to part with the vessel if a good offer is made. "We have not decided on anything just yet. We are keeping our options open," he said. Chandran?s VLCC, the 225,000- dwt Anand Sea (built 1981), was purchased from Taiwan?s Chinese Petroleum Corp (CPC) for $17.1m in December. He is not keen for Chemoil to use such vessels for storage roles. "Floating storage for fuel oils does not make sense. It is an accident waiting to happen so we will use the vessel only as a temporary strategy for new operations immediate storage followed by land storage," said Chandran. Similarly, the 70,600-dwt bulker Augusta (built 1981) is also a oneoff venture. Chandran converted the vessel, originally built as an OBO to ship fuel oil from refineries in Venezuela to Chemoil?s terminal in Los Angeles, into a bulker after it was considered too old to trade as a tanker. It operates on a long-term charter to South Korean interests but it will not be replaced when it is withdrawn from service. Chandran says Chemoil is unlikely to order any more newbuildings as it is not convinced that current pricing levels are justifiable. Instead, Chemoil is looking for older double-hull tankers to run between its terminals. Chemoil hunting for secondhand tankers Robert Chandran: "We are not a shipping company. Oil will remain our core business but owning a fleet of tankers is the best way to hedge against paying charter fees." |
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zhuge_liang
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24-Apr-2007 19:18
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Rose on talks it may announce some acquisitions. | ||||||||||||||||||||||||||||||
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victorf
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18-Apr-2007 16:13
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buy on dip...should touch $1 within 1-6 months...good luck and not for contra | ||||||||||||||||||||||||||||||
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Happyseah
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18-Apr-2007 09:46
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Low volume. This counter will need time to move up. Have to be patient... | ||||||||||||||||||||||||||||||
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Citysky
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17-Apr-2007 11:22
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Thanks, Happyseah. It is interesting to notice Mr. Robert V. Chandran's extensive actions of enhancing his position since beginging of the year. I believe he views this IPO very different from normal biz owner and has his own plan on this counter which may quite postive to minority shareholders. | ||||||||||||||||||||||||||||||
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Happyseah
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17-Apr-2007 11:09
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Choymengsim
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14-Apr-2007 21:48
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Just bought 10 lots at 78cts on Friday. Last month, made a tidy sum from this stock. Bought at 53cts and sold at 68cts. Next week will move higer than 80cts supoorted by good volume on Friday. Have good faith in this stock. | ||||||||||||||||||||||||||||||
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Happyseah
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14-Apr-2007 21:34
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Business model similar to Olam. Fundamentally very good although it might take time for this share to be truly appreciated by the market. At this price, it has not even reach the upper end of it's initial IPO(US$0.85). Have faith in Robert Chandran. Buy and hold. Looking at past trend, contra not recommended... | ||||||||||||||||||||||||||||||
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victorf
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13-Apr-2007 10:33
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now you can take off some profit if you want as near to upper bound $0.84...already asked people not to sell early last time...good luck...and watch $0.84 resistance....else sell before that...if you are a mid-term investor, then hold till $1 by end of year
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Happyseah
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12-Apr-2007 13:07
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Buy and hold. Slow mover but good potential. This couter is independant of any oil price fluctuation. Resilient business model. Vested for the long term. Will consider letting go at US$1.50 level... | ||||||||||||||||||||||||||||||
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