Member Info for chilting

Yes, an absolutely excellent performance by Enquest, but cancelled out by Corvid decimating Brent - it must be more frustrating for AB than it is for us.

A steady as she goes update will be best - with no nasty surprises - on the day its all about Brent, as usual.

Yes - a good premium and maybe more???
This is speculation - load 72 is currently being unloaded at Terminal Karimun - a small oil terminal on an Indonesian island close to Singapore.
The company who own the terminal just provide storage facilities - click link "About Us" on the link below - so its possible that Enquest actually still own the stored crude and are getting a better price than they would if they sold in the open market - in other words they are selling at todays price direct to the bunkering companies????

https://www.oiltanking.com/en/business-areas-tank-storage-logistics-and-tank-terminals/terminal-details/terminal/pt-oiltanking-karimun-terminal-karimun-kepulauan-riau.html

AIS is still poor for AK but it looks like today's hook-up was probably at around 15.00BST.

That's just 9 days since the last tanker left - very impressive!!!

The US markets bounced back on close so hopefully tomorrow will be better.

Sure, we will get more local lockdowns but I don't see anything worst than that - also with the Ocado deal M&S have another route to their customers.

From a negative comes a positive - the fall today presents an excellent opportunity for a long term buy, on the day that M&S's fortunes will start to turn for the better as the Ocado deal goes live.

The market is back in heavy corvid mode today - that has overridden everything else - corvid affected stocks are all down - as is normal on these days Ocado is one of the few blue stocks.

jimjam
It would benefit M&S far more to get another partner on board - not only would they not need to find the extra capital but the potential for expansion - build more CFC's - would be far greater. They could end up being the premium end of the biggest retail grocery chain in the UK.

From an Ocado point of view the Waitrose partnership was stagnant - not enough punch.
Ocado always wanted a bigger player on board and the chance to sell the retail business, I guess it was Ocado that pushed Waitrose.
The process is not over yet, the other 50% of Ocado Retail is still available, if that is sold to a big player then that could be exceptionally good news to M&S because the new partner would help fund more CFC's meaning an even bigger market for M&S groceries - imagine if the big player was Tesco, Amazon or Kroger.

I guess its just part of owning shares in a well known and talked about brand and when that brand gets pigeonholed into failure it takes a lot to turn it around.
But when the turnaround does come it will be much more dramatic and M&S can ride on the crest of a wave - as will the SP.

PS is just 12.6 nautical miles to the north east of AK - no indication of a hook-up yet.
A hook-up today would be just 8 days since the last tanker left.

Load 72 has now arrived in the Far East aboard Mineva Zoe.
It is being unloaded ae an oil depot. The depot is located on a small Indonesian island close to Singapore - the depot services vessels bunkering at Singapore.

https://www.marinetraffic.com/en/ais/home/centerx:103.306/centery:1.079/zoom:15

The BBC article is overly negative to the venture, and the market's initial reaction mirrors that.

Only actual results will, I think, change that sentiment and move M&S forward along with the SP.

The BBC article is overly negative to the venture, and the market's initial reaction mirrors that.

Only actual results will, I think, change that sentiment and move M&S forward along with the SP.

Sentiment for anything in our day to day life changes and when the media picks up in the change it it always exaggerated - apart from maybe climate change, that is very real - as investors we are probably the worst offenders with regard to changes in sentiment and it is always exaggerated, so we always over react.

As I mentioned before nothing is black and white - it is always grey. Actually M&S is particularly well positioned for grey with a big foot in bricks and mortar retail and the other one online.

There are now just 1081 Waitrose products listed now, most of them are perishables and there are 5163 M&S products listed - so it looks like that the transition is going well.

It probably is crunch time - the SP has been slowly drifting down since mid June as Brent slowly recovers but that has been mainly because of low volume.
I would say that the figures will be as expected and that unless there is some sort of reorganisation of debt we won't see a RI. But a RI could be part of a debt reorganisation deal.
Hopefully, though Enquest will fulfil the potential it showed before coronavirus as a recovery stock going into 2021-22. I do still think that it will be a long haul back with Brent still underperforming for a prolonged period.

Nice one steelwatch!
Tuesday 1st September is just 8 days since the last tanker left - it looks like the schedule is getting back on track.

On the face of it the Telegraph is 100% correct in its present form M&S is a poor investment but we have observing how the directors plan to bring the company into the 21st Century - Ocado Retail - closing unprofitable stores - opening modern stores in better locations - developing the Convenience Store network - much more focus on food.

There is still a long way to go and the clothing and home division is still a worry, as are the town centre stores, but as a contrarian investment with all the assets the company owns this is a pretty save bet.

Its unlikely the SP will fall further unless we get another lockdown so I think we can expect in the worst case scenario for the SP to flatline in the next year and in the best case to recover to pre-lockdown levels and move on strongly as grocery dominates.

Over a longer period as the results of the current pain bare fruit I think that M&S will gain considerable market share from the big four supermarkets, online and in the convenience store market. Clothing and Homeware will be sold online and from a much smaller estate of modern out of town stores. Food Halls will remain in town centre locations and the convenience store network will grow.

So, yes the Telegraph is correct but I guess the author will eventually write an article about how wonderful an investment is in a year or two time but by that time the SP will be more than double what it is today. Meanwhile I wait patiently.