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  • Arrests push Petrobras probe back toward Rousseff [View news story]
    Can you imagine the upside potential in PBR stock if Brazil was to get a market-oriented, centre-right government sometime during the next few years..
    Nov 27, 2015. 10:08 AM | 2 Likes Like |Link to Comment
  • Seadrill - Commentary On Q3 Results, Part I: November Fleet Status [View article]
    FT, your only focusing on the oil.. For the Saudi's it's a means to an end.

    The core of OPEC (Saudi Arabia, Qatar, UAE) is Sunni.. Iran, Syria (Assad), Iraq's majority is Shia.. ISIS is a Sunni-led and funded sectarian group.. The Middle East is burning and the West is following suit

    Do you really think that nobody is pulling certain strings?.. Oh well
    Nov 24, 2015. 03:55 PM | 3 Likes Like |Link to Comment
  • Seadrill - Commentary On Q3 Results, Part I: November Fleet Status [View article]
    I agree AR, the Saudi's are trying to change the political balance in the Middle East - Syria, Yemen, Iraq - with their funding and influence, and at the same time destabilizing oil markets with their supply push.. They are very determined and know exactly what they are trying to achieve long-term, watching from a safe distance while the West waivers
    Nov 24, 2015. 12:32 PM | 1 Like Like |Link to Comment
  • Seadrill up despite Q3 miss as overall result "slightly positive," analyst says [View news story]
    The recovery may (or may not) be robust for low-debt competitors Ensco & Noble.. Seadrill & NADL may be BK by then
    Nov 24, 2015. 12:10 PM | Likes Like |Link to Comment
  • Ship Finance declares $0.45 dividend [View news story]
    A+ for this management team, again, from this long-term shareholder
    Nov 24, 2015. 12:03 PM | 2 Likes Like |Link to Comment
  • VW: A fix, not origins, is top priority [View news story]
    "New test results published today showed that dozens of diesel cars from multiple manufacturers fail to meet specified European emission targets. Vehicles from Renault, Nissan, Hyundai, Citroen, Fiat, Volvo, and Jeep were all tested in real-world conditions — and all of them found severely wanting. The average Mercedes Benz produced at least 2.2x more NOx than the official Euro-5 level and 5x more than the ecological Euro-6 emission standard allows. Honda’s diesels emitted between 2.6x and 6x more NOx than allowed.

    Mazda and Mitsubishi both failed the test as well. Out of 50 vehicles that supposedly met Euro-6 levels and 150 Euro-5 diesels, just five vehicles out of more than 200 emitted real-world particulate levels that matched their in-house lab tests. The difference between these manufacturers and VW, thus far, is that none of these other companies stand accused of using a so-called “defeat device” to hide their failures."

    .. The US typically perceived Europe as having stronger consumer protections and tougher restrictions on pollution, but this is as clear a case of regulatory capture as you could ask for. The EU’s actual emissions and air quality are far in excess of what the law says because an obsolete and abused driving test has been kept as a gift to the automakers themselves. When the Guardian reached out to automakers to comment on the discrepancy between their real-world test results and the EU standard, virtually every single manufacturer stressed how important it was for them to comply with regulations. Mitsubishi had the audacity to note that “The NEDC (New European Driving Cycle test) was never intended to represent real-world driving.”
    Nov 11, 2015. 09:03 AM | Likes Like |Link to Comment
  • VW: A fix, not origins, is top priority [View news story]
    There is no quick fix, the emission standards have simply become too stringent too fast.

    VW's R&D spending in 2013 alone was $13.5 billion. If they aren't even able to meet the current standards, you can be sure the same is the case for all other major car companies.
    Nov 11, 2015. 05:57 AM | 1 Like Like |Link to Comment
  • Big beat on jobs number [View news story]
    Time for the Fed to pull out the tube and let the patient get back to living a normal life..
    Nov 6, 2015. 08:44 AM | 5 Likes Like |Link to Comment
  • Ensco EPS of $1.34 [View news story]
    Depends on your definition of same space I guess. RIGP is 100% offshore. SFL is far more diversified, and therefore a better overall play this last year

    RIGP: three offshore rigs, no debt, and around 13% current yield

    SFL: four offshore rigs (chartered by SDRL, NADL, Apex), tankers, bulkers, container vessels, and around 10-11% dividend yield.
    Oct 29, 2015. 11:17 AM | 1 Like Like |Link to Comment
  • Ensco EPS of $1.34 [View news story]
    I still think RIGP and SFL were the best/safest plays for the last 1 - 1.5 years (slightly biased of course) in this space, but at the same time I feel increasingly tempted to re-enter Ensco, quality company with great management team.

    Some of these stocks, except the high-debt ones, seem to be bottoming since the summer, very tempting..
    Oct 29, 2015. 02:54 AM | 2 Likes Like |Link to Comment
  • Ensco EPS of $1.34 [View news story]
    Wow pretty impressive to say the least
    Oct 28, 2015. 06:49 PM | 4 Likes Like |Link to Comment
  • Iran says it will pay oil companies larger fees in 20-year contracts [View news story]
    There's more than enough demand for Saudi, Russian and Iranian oil produced at $5-$15 a barrel.. it simply means more trouble for US shale & Canadian oil sands
    Oct 21, 2015. 11:53 AM | 2 Likes Like |Link to Comment
  • Russia: Unfolding This Mysterious Market, Part IIΙ (A) - The 8 Most Valuable Stocks [View article]
    Rosneft (+5 mln bpd) & Surgutneftegaz Pref (+$30bln cash pile, no debt)
    Oct 20, 2015. 08:47 AM | 1 Like Like |Link to Comment
  • A Look At Glencore's Balance Sheet [View article]
    Glencore Xstrata is a steal at current levels IMO. I think even the most bearish of analysts Nomura has a 120 pence target, 70-90 pence seemed overdone. From personal experience it's been a profitable trade several times in the past, and after the recent sell-off it looked pretty attractive to re-enter when the market was basically throwing the baby out with the bath water.

    The need to address their level of debt is clear, which they are tackling at the moment I believe, but underlying you can have little doubt about the inherent quality and long term value of their diversified asset base, and in my opinion equally important the significant benefit of Glencore's in-house trading division.

    They did feel the need to put out a PR to set the record straight after Investec;
    "Our business remains operationally and financially robust - we have positive cash flow, good liquidity and absolutely no solvency issues."
    Oct 1, 2015. 10:29 AM | 3 Likes Like |Link to Comment
  • Ship Finance International: We're Cautious [View article]
    Because depreciation does not involve a cash inflow or outflow. When the asset was purchased, it already was listed as an outflow under Cash Used In Investing Activities. After that, all the depreciation entries are just journal entries, none of them involving cash.

    Depreciation is added back as a reconciling item to net income when using the indirect method of cash flows. Net income was reduced by the current period depreciation (depreciation expense) without the effect of reducing your cash (because the credit was to accumulated depreciation).

    So in order to reconcile net income to cash flows from operations, non-cash expenses like depreciation is added back. Other items that you have to add back includes, discount amortization and equity in earnings of an investment among others.
    Sep 7, 2015. 08:06 AM | 3 Likes Like |Link to Comment