@SuperPanda havent join yet, just wandering around while keeping cash.. heartache looking some rebound almost 50% and miss the uptrend... but still confident another opportunity will come
has said before the peak will be in april when all the surplus oil loaded to market.. here it comes __________________ Mabel Panda when are you joining this ship?
Meow 21/04/2020 12:22 AM 21/04/2020 5:31 PM
Noted Panda and I respect your judgement.
I know you are one of the savvy Investors in I3. Sometime, I wish I have more patience that you. This is something that I need to learn...but soon I'm getting there as I grace with age....
Hope to have you on board soon when you are ready.
Otherwise, I'm sure we will meet in other counter as I know your taste is about the same as mine...
World’s Biggest Oil Storage Firm Says Almost All Space SoldBy
April 21, 2020, 3:44 PM GMT+8Updated on April 21, 2020, 5:44 PM GMT+8
The world’s biggest independent oil storage company said that space for traders to store crude and refined fuels has all but run out as a result of the fast-expanding glut that Covid-19 has created.
“The available capacity on the oil side is almost completely sold out for our terminals,” Gerard Paulides, the chief financial officer of Rotterdam-based Royal Vopak NV, said in an interview. “For Vopak, worldwide available capacity that is not in maintenance is almost all gone and from what I hear elsewhere in the world we’re not the only ones.”
The firm is racing to complete maintenance to free up whatever space it can. Worldwide oil demand has collapsed at an unprecedented speed because the coronavirus has caused a mass halt to global transportation systems and hurt economies. With producers failing to reduce output at the same pace, an oversupply of crude and fuels has quickly emerged.
U.S. crude oil futures for May moved into negative territory on Monday -- meaning traders were effectively willing to pay people to take barrels. A large part of that was because of concerns about space to store.
From Indonesia to Mexico, companies are scouring the market for places to store oil and refined fuels, often parking unwanted supplies on tankers because shore-based facilities are full. In the North Sea, a handful of vessels have been idling with gasoline and jet fuel on board for days now.
“It’s extremely tough to find something in this market,” said Krien van Beek, a storage broker at ODIN-RVB Tank Storage Solutions, discussing the global situation for fuels. Companies that have their own tanks may not have filled them, but there are now barely any left for third-party hire, she said.
Main Hubs
Vopak operates three main hubs worldwide in Singapore, Rotterdam and Fujairah. The company traditionally benefits from contango in oil and fuel markets where the spot price is depressed, meaning oil can be stored for sale later at a higher price. The company said in its earnings release today that the impact of contango will certainly be seen in the second quarter. Vopak is working at a fast pace to bring back from maintenance four tanks in Rotterdam.
“All the available capacity that is in demand will be used and is used,” Paulides said.
Asia biggest storage also nowhere to store...Just no need to drill...Unpaid leave or pay cut 75%...!!! Singapore police launch probe after news of Hin Leong losses | https://www.klsescreener.com/v2/news/view/667437
wonder if this Hin Leong caused/contributed to this fiasco, supposed to close or carry forward the contract, to avoid delivery ?
anyway, US shd be able to resolve this since the exchange is managed by them, there shd be less forward contract going forward until the space issue is resolved or, pass a law for US tosend all undelivered contracts foc, to their strategic reserves, kikiki
Uncle is not wrong to write to warn coz sudden twist of oil event... everyone has perfect window to escape even after he sold while some think they r better than KYY by being contrarian. Every oil company gonna review or chop the contract/ project... no exceptions
Uncle lost 90% of his profit... Few days aftee rhe oil price crash, he is still bullish and ridicule all that dont buy as a fool and that oil price drop wont have any impact on dayang.. Well he was dead wrong lol
Grandpa Koon get you all trapped because he lost a lot.
Fundamentally, with the stock market, first you need to know whether you can control the situation or not.
Pandemic is something that no one in this world can control because no vaccine and no cure.
Any other situation like 2008 crisis, 1988 currency crisis, and 1987 commodity crisis all have their own unique solution because it does not affect human health. For Covid, the solution is the appearance of Vaccines and drugs to cure. Both of them are not here yet.
I expect Bursa will move down to 600 points before we can start to buy. In 1998, KLSE moves down to 268 points. So, today 600 points is not too much of an asking.
Dayang price run up was pushed by cindicats "Meow Meow Meow" and i think they still have money trapped due to their own push up.
I think Dayang shares is worthless today. If America and Europe dont buy oil from the world...Sooner or later, oil price in Asia will reflect the true state of oil economy in the rest of the world. USD 20 per barrel is just too high today.
apanama said for those hope oil drop below 20, DREAM ON... today im wondering whom is sleeping.. if he’s the one.. hope he wont wake up to see the truth.. ___________________
apanama TAK1..thank you for Goldman Sach report article..thats why from beginning i said cannot trust Goldman Sach. When they said USD 20 Dollar thats mean Brent oil will go higher. So now they said USD 30 dollar. So it will go more Higher.
As for me i am stick to my own research whereby during USA Presidential Year, Brent oil will swing upwards within USD 20-30 dollar per barrel.
So based on current situation, Brent Oil will move from USD 27 per barrel to USD 47-57 per barrel. Add on manipulation and people start chasing the contract by another USD 10 per barrel and DXY Index cool off, we will easily see the Brent Oil back to USD 60-70 per barrel.
All the best market warriors. For those who still hope Brent Oil to break USD 20 and below, DREAM ON. 21/03/2020 6:45 PM
@Lucky81 Meow really became dead cat now. 21/04/2020 8:24 PM
I say bro, my average is still below RM 1..
I'm still alive and kicking.. I will probably wait to 60 sen it it drops further since so many are praying for it..
Keep on cheering in every energy counter you go.. Continue to be our Pom Pom Boys..
Based on current sentiment, we really need all the cheering we can get.
Remember every drop of 1 USD will have a drop of RM 300 millions to our Treasury. So it's not only us, the whole Malaysian will be affected with this latest development..including YOU!
Our present Finance Minister appointment is also another credit to TSMY Government. He just issue a statement which is moving in the right direction. We need to diversify. That's why I does not rely solely on O&G. Boutique alone I have 3 other Boutique (Plantation, Digital Economy and VMY) that are giving me the cushion for my 9 lives.
Those days under BN, the oil revenue was already down to 18%. When PH, abolish GST. Oil becomes 30% of Government revenue. Now when the oil price drops it has a hugh impact on our economy.
@paktua73 you're welcomed sis mabel.. you also doing tremendously great too.. hope will earn more on this year..
tut tut once on 100 years.. 21/04/2020 6:37 PM
Aameen
Thank you Paktua.
So far it's looking good. The recent Oil surge was a blessing. I did sell off some of my holding at the right time. Serba was a good example. Managed to sell some of my holding above RM 1.80. Now doing bargain hunting for the right gems and of course at the right price...
Plantation and technology also holland.... will drop kaw2... better look in to consumer. I don’t knw this meow but I saw your comments I really hahaaa... funny
Nah I don't think Dayang contract will be fulfilled . Petronas no money. If they sell oil now very low price. If they sell in USA, the more they sell, the more they have to pay.
Now, Trump considering blocking Saudi oil from entering USA. So, Saudi will flood the rest of the world with oil.
@Benthen106 Plantation and technology also holland.... will drop kaw2... better look in to consumer. I don’t knw this meow but I saw your comments I really hahaaa... funny 21/04/2020 10:55 PM
What I do is to categorize my portfolio into 3 categories to priorities my engagements:
1. Buy and Engage - short to mid term 2. Buy and Hold - mid to long term 3. Buy and Forget - long term
One of the reason I have a wide selection is because I usually leaves something on the table as Tips. I don't usually sell all my holding when I upgrade the stock to Category 3. If the stock is back on momentum I will start accumulate back like what I'm doing right now with few counters such as Armada, KNM etc etc. It;s a cycle repeat..
Studies have repeatedly shown that when panic selling occurs, many ordinary investors found the losses too much to bear and sell stocks, often at or around the market lows.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
SuperPanda
11,431 posts
Posted by SuperPanda > 2020-04-21 17:34 | Report Abuse
20usd has come exactly as expected