I see oil at 70++ .... 80 cominng soon.
That will bring BAB to 80 sens.
All here know that BAB is DIRECTLY related to crude oil price.
It is like mining company and gold.

Crude prices rose more than 3% Monday as disruption of half a million barrels a day of Kurdish supply, nuclear war talk by Russia’s Vladimir Putin and assurances about the crisis-hit U.S. banking sector helped boost risk-on appetite in oil

Above 60 sen is a very bullish sign for Armada. New support being established. It used to be 40's last year.

Even better, those who have losses can buy more armada shares and sell at profit soon, likely after Q1 earnings ...

5 does it for BAB, specially with Yinson fully booked.
Petronas aims to engage up to two floaters in the near term, but is looking at options to make them commercially viable
By Nishant Ugal , Russell Searancke and Amanda Battersby in New Delhi , Oslo and Singapore
Leading floating production, storage and offloading vessel contractors are eyeing at least five promising floater prospects in Southeast Asia, hoping that robust oil prices could lead to faster decision-making on several offshore projects.
Several market sources told Upstream that multiple FPSO projects in the region are expected to gain momentum in the coming months, with Malaysian state giant Petronas expected to lead the way with up to two potential floater requirements in the near term — Kelidang offshore Brunei Darussalam and an integrated development centred around the Limbayong and Bestari fields offshore Sabah, East Malaysia.

This was an excellent company 5 years ago, but now it became too expensive. No longer a story. Tough reality.
But I went through the documents online and still a buy in my eyes. Revenue is the key to value here.

From analyst ...
Bumi Armada Berhad ARMADA
Share Price 7 Day 1 Year
0.63 -8.8% 50.6%
Now 21% undervalued
Over the last 90 days, the stock is up 26%.
The fair value is estimated to be RM0.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only.
Revenue has been flat over the last 3 years. Earnings per share has grown by 77%.
For the next 3 years, revenue is forecast to decline by 1.2% per annum. Earnings is forecast to grow by 3.1% per annum over the same time period.

So they got 125 mln for an old FPSO, similar to Armada Claire and with a very bad karma of industrial accident. Armada is no BW branding, but should result in some good bucks for Claire.
........
Floater specialist BW Offshore has struck a deal to sell its floating production storage and offloading vessel BW Opportunity for $125m.

First oil from AS #5 expected in May '23.

https://www.linkedin.com/posts/getmanup_engineering-oilandgas-oilfielddevelopment-activity-7039583187584397312-jteP?utm_source=share&utm_medium=member_desktop

It has to hurt. 0.06 drop despite agogo success.

With the bad market we experience this week, it is really fortunate that Armada did not achieve first oil or new contract under the circumstances. Good news would go to waste.
It is not just about the success, the timing of it is important too.
Let's wait a few days for dark clouds to disperse. Monday is another week.

The action on the price of Armada is very encouraging today. But I still keep my stake in it until:
1. Armada Sterling V produces first oil.
2. QE improve as profits from 1 will replace costs.
3. New project is anounced.
The above should cause rating upgrades and upswing to fair value. Then I cash in.

Want to throw a big party to celebrate the gains of this counter ? Why not do it at sea.
Armada Claire has overnight acommodation for 63. This could be a good birthday group. Baby shower, etc.
Disconnectible external turret allows you to change location.
Here is the listing .... at eurobrokers.
https://www.ship-broker.eu/wp-content/uploads/2020/10/FPSO-Armada-Claire-lim.pdf

My bet is that Armada Claire will be sold. This would be excellent news, as the facility is there. No need for new financing. And instead of liability, we may have cash.
Total Camaia will take some time. Final committment will be proceded by negotiations and intention letters. And Armada insiders would not be confident until it happens to affect price that much. They know that sale is imminent if they have an offer and consider conditions.

Please repost Niki. Maybe someone wants only his messages to be here.

So we have global debt crisis leading to economic crash. Crude oil oversupply. Russian war destrying confidence of investors. Transition to green energy. Syndicate dumping in a pump and dump scheme.
Stock of BAB is stable. Seems like bad news already priced in. May be good time to buy more.

I also remember AGOGO going to Yinson. And at that time TUNA became an option. Indonesia is within BA interest area.

I congratulate long timers who made profit and exited. Good for you. Support us on re-entry.
Soon we will have many new investors here. At 50+ sens. I look forward to hearing from them.
There was a very high volume, so the ownership have changed significantly.

Remember that around the QE anouncement BAB reaches highs. And also remember that the stock plummeted early in 2022 on the fears of not getting paid about 50 millions USD for vessels sold to Russia. Vessels were paid. Construction and pipe laying vessels in the caspians received Lukoil contracts. And we only returned to the pre Ukraine war valuation levels. There is room to go higher. Earnings, gearing, contracts nothwithstanding as they only improved ...

Wow, so quiet here. I would expect a few happy people commenting.
I remember when this was a turnaround story, 3 years ago, we had maybe 50 messages on a good day like today.

Which shows me that when armada becomes a story again, we could be at much higher level.
Oil and gas stocks are bought by hedging funds and other boring capital. They are cautious, so are the moves up and down. The excitement of the general public ...

Thanks for a good example. From my experience, I spent more than a year offshore trying to start up a facility, and it was NOT even ready for start up when I moved to a new project. Fingers crossed for armada sterling 2. Company needs a positive story for new contracts. Suing a client does not win hearts. Let's hope for a change of narrative.

Thanks for update, Niki. I work in oil and gas, and my last floating projects took months to commission. One about 2 years, and still faces shutdowns. But sure I hope for a quick first oil for BAB. To the first cargo drop soon

On the positive note, tuna project may go ahead ...
https://thediplomat.com/2023/01/indonesia-approves-first-phase-of-key-offshore-gas-development/

I would expect hook up to take a few months, and start up about half a year. But that is my opinion.

From RHB

https://research.rhbtradesmart.com/view-file/hash/9176018973516544637f9b1f23d9f?NO_CACHE=fbdbc7150cfe2ecbc71c62ed0e9c7182

25 November 2022 Energy & Petrochemicals | Offshore & Marine
Bumi Armada (BAB MK) Another Solid Quarter; Keep BUY
Buy (Maintained)
Target Price (Return): MYR0.61 (+39%)
Price (Market Cap): MYR0.44 (USD579m) ESG score: 2.90 (out of 4)
Avg Daily Turnover (MYR/USD) 4.81m/1.05m
Analyst Sean Lim, CFA +603 9280 8867 sean.lim@rhbgroup.com
Share Performance (%)

Keep BUY, with new SOP-based MYR0.61 TP from MYR0.59, 39% upside. Bumi Armada’s 9M22 results surpassed our expectations, with core profit surging 16% YoY on better Kraken availability, lower depreciation and finance costs. The group is still actively bidding for new
projects while Armada Sterling V has sailed away from the yard. BAB remains our sector Top Pick for its undemanding valuation (3.5x FY23F P/E) and strengthening balance sheet, led by stable FPSO operations and continuous asset monetisation.

I like what I see here.

More and more coverage about armada sterling v ...

.....
The Indian giant has made multiple awards for the Cluster-2 development of KG-DWN-98/2 including integrated subsea facilities, a floating production storage and offloading unit (FPSO), a central processing platform plus living quarters and a sizeable onshore terminal.

McDermott, along with Baker Hughes and India’s Larsen & Toubro, was awarded a $1.69 billion integrated subsea contract by ONGC in October 2018 for work on the KG-DWN-98/2 asset.

A separate contract for the project’s CPP plus living quarters facility was awarded to a joint venture of India’s Afcons with Malaysia’s Sapura Energy.

While most of the key facilities for the Cluster-2 project are said to be back on track after Covid-related delays, the CPP is understood to be several months behind schedule, due to Sapura’s financial woes.

Armada Sterling V, the FPSO for the KG-DWN-98/2 project built by Sembcorp Marine in Singapore, is preparing to sail away within weeks, Upstream reported on 4 November.

The floater is jointly owned by a pairing of Shapoorji Pallonji Oil & Gas (SP Oil & Gas) and Malaysia’s Bumi Armada. The Indian player holds a 70% stake in the FPSO, while Bumi has the remaining 30%.

Friday is never a good day for Armada, as people want to reduce risk before weekend.
Also, final dismissal of the case against woodside happened yesterday.
All considered, not a bad performance in the circumstances.
0.43 is a good price for now.
Consider 23 million shares short that will have to be settled soon as margin kicks in.
It keeps us up too.
_______________________________________________________
KUALA LUMPUR (Nov 10): Bumi Armada Bhd has concluded its six-year legal dispute with former client Australia-based Woodside Energy Julimar Pty Ltd (WEJ), with the offshore production and support services provider failing to obtain any of the claims it sought.

The dispute relates to a terminated RM1.46 billion charter contract between Bumi Armada’s unit Armada Balnaves Pte Ltd (ABPL) and WEJ, which prompted ABPL to file a suit in 2016 at the Supreme Court of Western Australia to seek a declaration that WEJ’s termination of the contract was a repudiatory breach.

It also claimed US$283.51 million for damages in the suit. The damages that ABPL sought comprised payment that the unit claimed it would have been entitled to had the contract not been breached, and US$7.7 million for work done and materials supplied.

The matter was put to rest on Thursday (Nov 10) after the High Court of Australia dismissed ABPL’s bid to appeal a Court of Appeal of the Supreme Court’s (COA's) judgement, as well as ordered ABPL to pay WEJ’s legal costs.

“Today’s decision brings this matter to a conclusion,” Bumi Armada said in a filing on Thursday.

Previously, the Supreme Court decided in favour of WEJ in regard to ABPL’s suit, which led to ABPL filing an appeal at the COA against the decision. However, the COA decided in favour of WEJ in the application on June 24 this year, which then led to ABPL seeking special leave (permission) to appeal "part" of the appellate court's judgement. This application was the one dismissed on Thursday.

Shares in Bumi Armada finished down half a sen or 1.16% at 42.5 sen, giving the company a market capitalisation of RM2.49 billion.

Since it was already anounced, may be it is right time to sell the news ?
Been wrong before ...
_________________________________

High Commissioner Mr P. Kumaran participates in sail-away ceremony of Shapoorji Pallonji’s FPSO Armada Sterling V
November 7, 2022 Neel Achary Business 0

7th November 2022, India/Singapore: The High Commissioner of India in Singapore, His Excellency Mr P. Kumaran, participated in the sail-away ceremony of FPSO Armada Sterling V on November 6, 2022. The Floating Production Storage and Offloading vessel (FPSO) is ready to sail away and is expected to arrive at the project site on the east coast of India by the end of December 2022.
Over 150 people attended the sail-away ceremony, including representatives from the Indian High Commission in Singapore, ONGC’s PMC, Shapoorji Pallonji, Sembcorp, and Bumi Armada, as well as their guests.
This FPSO is the result of close collaboration between India’s engineering prowess and Singapore’s FPSO conversion capabilities. It features 13 modules and central piperacks, weighing over 20,000 tonnes, and is equipped with the world’s largest submerged turret production system.

H.E. Mr. P. Kumaran praised the size and specifications of the FPSO and congratulated the ONGC, Shapoorji Pallonji Oil and Gas, Bumi Armada and Sembcorp Marine teams. Commending this remarkable project, he said, “I am very happy to see the kind of collaboration that has been possible between India, Singapore, Indonesia and a number of other countries involved in this project in terms of supply chain linkage.” The High Commissioner appreciated the excellent safety record of the FPSO and its sail-away readiness, despite disruptions due to Covid – 19 and geopolitical challenges.
Mr. Ravi Shankar, CEO and Director of Shapoorji Pallonji Oil and Gas, emphasized the importance of the FPSO for India’s energy security and stated that this deep-water project has given ONGC and Shapoorji Pallonji confidence to pursue ultra deep-water projects in India and overseas.
The FPSO represents India’s commitment to sustainable energy development. It is Asia’s first FPSO with low NOX DLE burners, is equipped with radar-operated oil slick monitoring, and has advanced engineering features that limit its overall energy intensity.

And there are still 24 mln shares short. Someone will be in trouble, shortly.

5210 ARMADA BUMI ARMADA BERHAD 24,096,564 0.41

Full text here so that web crawlers and bots can catch the news ... nice.

Shapoorji Pallonji Oil & Gas Pvt Ltd (SP O&G), a specialist in Floating Production Storage and Offloading Units (FPSOs) has achieved a significant milestone of sail-away readiness for its FPSO Armada Sterling V at Sembcorp Shipyard in Singapore. The FPSO is owned by SP O&G’s 70:30 joint venture with Malaysia’s Bumi Armada group. This is Shapoorji Pallonji’s fourth FPSO and its third FPSO for Indian waters.

FPSO Armada Sterling V will be deployed in Cluster 2 of ONGC’s KG 98/2 block in the east coast of India, which is ONGC’s first deep-water development. ONGC is investing over US $5 billion on this development, which includes an FPSO, a process platform and other facilities. The overall production of Cluster 2 is expected to peak at ~16.5 million standard cubic metres per day of gas and 78,000 barrels per day of crude oil, with the potential to reduce India’s annual import bill by $4.5 billion. At this crucial time, ONGC’s committed efforts to the project’s success will ensure India’s energy security. The project has provided valuable deep-water experience to ONGC and will give it enormous confidence to pursue challenging ultra-deepwater developments in India’s east coast.

Ravi Shankar, CEO & Director of SP O&G, said, “In the next decade, the world will need an additional 40 FPSOs, at least 20 Floating Storage and Regasification Units (FSRUs), and 10 Floating Liquified Natural Gas units (FLNGs). We are well-positioned to deliver large projects efficiently with state-of-the-art in-house engineering, project management teams and operations & maintenance capabilities. We have the advantage of India’s high-quality talent pool for the offshore industry. The capabilities we have developed will gradually enable Indian shipyards and fabrication entities to transition from conventional shipbuilding to handling technologically advanced vessels.”

The FPSO features 13 modules and central pipe racks weighing over 20,000 tonnes, with a processing capacity of ~60,000 of barrels per day of liquids and 3 million standard cubic metres per day of gas. It will be the largest ‘floater’ in Indian waters, measuring 321 metres in length and 60 metres in width, with a storage capacity of over 800,000 barrels.

Armada Sterling V is designed for continuous operations up to maximum wave heights of over 27 metres. It is engineered and delivered by a team of Indian engineers and project personnel. It is equipped with state-of-the-art technologies, including artificial intelligence and machine learning aspects, radar-controlled oil slick monitoring technologies and remote monitoring.

Ankit Garg, President – Projects of SP O&G, said, “We are working towards leveraging the enormous potential of Artificial Intelligence. We equip our FPSOs with AI solutions that allow us to better plan maintenance, thereby ensuring continuous oil and gas production.”

How could we have missed it ... it is MAJOR NEWS !!!
Shapoorji Pallonji’s FPSO Armada Sterling-V Achieves Sail-Away Readiness By Saur News Bureau/ Update...
India’s sole specialist in Floating Production Storage and Offloading Units (FPSOs), Shapoorji Pallo...

Read more at: https://www.saurenergy.com/solar-energy-news/shapoorji-pallonjis-fpso-armada-sterling-v-achieves-sail-away-readiness
Read more at: https://www.saurenergy.com/solar-energy-news/shapoorji-pallonjis-fpso-armada-sterling-v-achieves-sail-away-readiness

Oil price up can only be good for Hibiscus. So let us hope for more sanctions !!!

I have been with this counter for a few years. I learnt 2 things...

1. It never fails to disappoint, and all upswings inevitable fizzle, dropping below fair value
2. It is pointless to try to convince investors that Armada is NOT related to oil price. If investors believe it is, then so should it be.

Let's hope for a surprise though. Russia is on our side. They paid for the ships, employed the construction vessels, and now they attack oil price ceilings. Let us hope they succeed.

Armada is leading in short shares as well. Sharks expect shares to tank soon ???

5210 ARMADA BUMI ARMADA BERHAD 29,983,564 0.51

I love this report. A lot of good information. Thank you, McGyver.
Interestingly enough, I owned Yinson for 5 years. He became the darling of brokers and analysts.
When everyone became in love with the stock, I exited.
More to gain here.
Though sure my patience is stretched, and I was disappointed over and over.
It is painful to be Armada long. But we shall see long term.

Bullsmarket, is that you ?
Welcome back.

Tuna .... hmmm

Leading FPSO contractors in frame for sizeable Indonesian offshore project
At least four groups are limbering up for the project’s design competition

4 October 2022 23:27 GMT UPDATED 4 October 2022 23:27 GMT
By Russell Searancke and Nishant Ugal in Wellington and New Delhi
Leading floating production, storage and offloading vessel contractors in Southeast Asia are standing by in preparation for an invitation to start the bidding phase for a sizeable floater required for the Tuna oil and gas project offshore Indonesia.

FPSO market sources said at least four companies or consortia are lining up for the bidding phase — Bumi Armada with Shapoorji Oil & Gas, BW Offshore, HBA Offshore and Yinson Holdings.

Niki, I searched on google photographs of BA, found some in the Shipyard on their site, It was a comment with a photo. Could not attach a link as it was blocking me for some reason. There was no doubt about authenticity as they had many, though photo and commment may have been posted with a delay.

2 modules were delivered this month to armada sterling v. They will not be connected, tested, integrated, etc. within 1 month. So the sail away in October seems unlikely.

Re: [India] Armada Sterling V
escveritas » Fri Sep 09, 2022 2:32 pm

Completed and Delivered Two Modules to the 98/2 Project for Bumi Armada/SPOG

VME has successfully completed (2) of the (5) modules on the 98/2 Project for Bumi Armada/SPOG. The FPSO will be located in Block KG-DWN-98/2 in deep waters off the East Coast of India.

Two weeks ago there was an article behind the paywall that Bumi Armada was about to get the Cameia project. I would pop up when doing cameia search on google ... I deleted 1st post about it only 'free' part of article could be copied.

Thank you for the relevant report again. So important to get this project at good rate.

Cameia
Game changer in my opinion.


I wrote about it 2 weeks ago... articles were behind paywall, but related to this project. In my opinion, may be a better option that the other Angola projects. And rates are increasing as competitors withdraw....

Posted by Robert Waters > 2 weeks ago | Report Abuse

Nobody interested in the project behind the paywall ?
I think that is the one...
Potential Cameia FPSO project win, but may entail rights issue
BAB is bidding for TotalEnergies’ Cameia FPSO project in Angola. If BAB wins the c.US$1.8bn capex project in 2H22F, BAB may need to fork out equity of c.US$90m and undertake a c.RM500m rights issue, in our estimate, assuming that
1) BAB takes a 50% stake in the project; ... etc.

Even if Yinson takes agogo, there is still repsol.
__________________________________________________
Repsol Begins Negotiations to Lease FPSO
By Conal Quinn | Fri, 09/02/2022 - 10:15
Repsol has begun negotiations with contractors to lease a Floating Production, Storage and Offloading vessel (FPSO) as part of its plans to expand its offshore development efforts in the Gulf of Mexico.

The Spanish operator is keen to make further progress in Block 29 where the noteworthy Polok discovery and smaller Chinwol prospect are located. Market sources cited by Upstream report that Repsol is specifically looking to lease a front-end engineering and design contract for a medium-size FPSO, large enough to permit either suezmax or aframax tanker dimensions, with oil production capacity for about 60,000b/d as well as associated gas production. The FPSO will be anchored in depths between 460 and 600m to serve both Block 29 and an adjacent area referred to as Block X.

The discoveries of Polok-1 and Chinwol-1 were announced by Repsol and its block 29 joint venture partners in May 2020, with net oil pay of 200m and 150m, respectively. Repsol secured a 30 percent stake in the project located 88km off the coast of Tabasco in Bidding Round 2.4 in 2017 together with Petronas subsidiary PC Carigali, who hold 28.33 percent, Germany’s Wintershall DEA with 25 percent and Thai IOC PTTEP with 16.67 percent. In drilling the Polok-2DEL appraisal well, which was completed in September 2021 Repsol became the first international company to carry out a test of such characteristics in the Mexican deepwater environment. Its positive evaluation gave the green light for the project to move forward with the development phase. At the time, Wintershall Dea commented that the positive evaluation of Polok-2DEL had provided evidence of the geological potential in Mexico’s deepwater, opening up the prospect of a new play within Mexico’s Salina basin.

Upstream reported that FPSO contractors Bumi Armada, BW Offshore, MISC and Yinson Holdings are eyeing the opportunity, while the same source also suggested that Repsol’s project may be overlooked by two of the biggest floater suppliers: the Japanese Modec International and the Dutch SBM Offshore. However, the pair is expected to focus instead on competing for more lucrative contracts for bigger units in Brazilian and Guyanese deepwater projects. The Spanish IOC is believed to be open to either a conversion model or the redeployment of an existing vessel that features an external turret mooring system. Repsol and its partners have targeted2026 for Block 29 to start producing, while first oil from Block X is not expected until 2027 or 2028. Although Repsol has not yet specified how long the lease-and-operate contract could last, an initial 15-year fixed-term deal, with the option to extend for an additional period subsequently, has been mentioned as a possibility by Upstream.

The Miamte FPSO, leased by Modec, became the first vessel of its type deployed by a private operator in Mexican waters when it was chartered by Eni to serve its Area 1 Amoca-Miztón-Teocalli fields (AMT) at the start of 2022. Miamite boasts a processing capacity of 90Mb/d for oil and 75MMcf/d for natural gas, with storage room for 700Mb/d of crude and a “zero-flaring philosophy.” The immediate production boost provided by the FPSO testifies to the transformative effect such vessels can have on offshore production. Across the three producing Area 1 fields, production totaled 18,881b/d in March, doubling the output of 9,336b/d just one month previous.

Rising FPSO activity leads to strong demand

KUALA LUMPUR: Given the high crude oil prices, international demand for floating production, storage and offloading (FPSO) vessels remains robust while the FPSO market remains tight.
UOB Kay Hian Research said the rosy outlook would allow oil companies to channel surplus cash flow into production projects.
“In its industry view as of Aug 22, SBM Offshore Group sees potentially five more new FPSOs being awarded by end-2022, on top of the eight that have been awarded year-to-date,” added the research house.
Over the 2023-2025 period, it believes there could be demand for nine new FPSOs per year, with Brazil as the highest FPSO demand centre, followed by West Africa.
The World Energy (WER) Aug 22 FPSO outlook edition is more bullish than SBM. WER noted that FPSO activity had returned to levels before the 2008 global financial crisis, and it has identified about 25 bids that may reach the engineering/construction stage within 18 months.
UOB Kay Hian Research said new contracts were increasingly allowing for favourable provisions. “One example is more turnkey arrangements, even though the oil majors understand this is unfavourable versus a lease and operate model.
“However, a persistently tight FPSO market is leaving no choice for oil majors but to seek alternative contracting strategy,” it explained.
UOB Kay Hian Research noted that the key headwind that the FPSO players were facing was the ability of the supply chain to absorb and deliver a huge backlog of FPSOs, as cost growth and delays were increasingly being reported.
With the rising interest rates and environmental, social and governance prioritisation, another key challenge faced is financing large FPSOs, which are about US$1bil (RM4.49bil) per ship.
However, with the strong international FPSO demand, UOB Kay Hian Research supports the three FPSO stocks under its coverage that are rated a “buy”.
“We like stocks with major exposure in the FPSO business, as their track record is international, and they do not need to be too reliant on local/Petroliam Nasional Bhd contracts.
“Investors can consider Yinson Holdings Bhd as it is the best growth stock with solid delivery and MISC Bhd as a more diversified investment. “Bumi Armada Bhd as a recovery stock on future prospects for both FPSO and gas, after hugely improving its gearing position,” it added.

Quite a large net short position. 33 mln.
Many trapped people waiting for it to drop.

5210 ARMADA BUMI ARMADA BERHAD 33,379,000 0.56

Nobody interested in the project behind the paywall ?
I think that is the one...
Potential Cameia FPSO project win, but may entail rights issue
BAB is bidding for TotalEnergies’ Cameia FPSO project in Angola. If BAB wins the c.US$1.8bn capex project in 2H22F, BAB may need to fork out equity of c.US$90m and undertake a c.RM500m rights issue, in our estimate, assuming that
1) BAB takes a 50% stake in the project;
2) TotalEnergies funds 42% of the capex; and
3) debt funding is 48% of the capex.
Tight FPSO contractor capacities globally suggest that day rates and IRRs may be strong, and we would be positive if BAB wins the project. However, the downside risk is that the rights issue may be negative for its share price in the immediate term.

x

I know that existing order book means stability. Great for loan financing guarantees. But consider the fact that with inflation at 10% in global market, future contracts will have higher nominal values. Some risk may offer good reward.

Somebody knows the results are good. Glad I waited on disposing ...

OK. Bring it on. I will buy some more shares.
This sure was painful, but I like punishment. Makes me stronger.
See you at the other side of the trade.
And good luck in getting oil from russians, venezuelans or iranians.

There is usually a reason behind 'random moves.' The guy who shorts 1 billion shares in only 1 day may know something that we do not. Maybe that Russian Vessels are lost, one of the main assets down, or client terminating lease ... for a justifiable cause ...

Maybe earnings will be OK after all ?

:-)

Just kidding.

Russians to the rescue of commodity investors.