Member Info for chilting

Scott Spirit is due at Kraken tomorrow morning just ten days after the last tanker left.

She is coming via the direct route from Rotterdam - so she is out of AIS contact in the middle of the North Sea.

She is due a Scapa Flo for a STS with the tanker NS Burgas on Saturday evening - indicating a Friday morning hook - up with AK.

The weather is calm.

The fight against the "common enemy" has always been a vote winner - be it weapons of mass destruction for Bush, the Falklands for Thatcher or ISIS for just about everyone in the west.
The more desperate Trump gets the more irrational he will get and the more economic damage he will cause and with no one to contain him - his approval ratings are still high despite the fact that his handling of the covid crisis has been reckless - the more fallout we will all see.

Its all just a question of when.

Actually, rather perversely - THE LONGER THE BETTER - assuming Enquest can ride the bad times.

Because the longer we see Brent below $40 the more production will fall and more producers will fail or at least cease production - even Enquest for example are cutting the unproductive capacity.

Then when OPEC+ start turning the screws the s**t will hit the fan - demand will outstrip supply big time and Brent will soar to $100 - maybe $120 - later next year - more likely in 2022 when the world economy will probably be in overheat mode with high inflation. Then the whole bloody lot comes crashing down again.

Enquest's link with Bumi Armada probably helps - maybe Usaha Tegas has interests in ship bunkering.

One indication that bunker prices are better in the far east is that up until load 63 most loads were going to Rotterdam.

The last two loads are bound for the far east.

hitman
The premium figure came from this article published on 6th May.

https://www.theedgemarkets.com/article/affin-hwang-downgrades-bumi-armada-sell-maintains-tp-13-sen

The load before last - Orpheus is now on her way to Port Said and a trip through the Canal after a STS off Kalamata.

No doubt now, another load of Kraken crude on its way east for the bunker fuel market at a premium of $8-$10 over Brent.

A life saver for Enquest ahead of next years big boom in oil prices!!!

The report is here - good spot Ammu

https://www.theedgemarkets.com/article/affin-hwang-downgrades-bumi-armada-sell-maintains-tp-13-sen

Day trade if you like but to me this is a very long term hold - a real pension builder.

All underwritten by the fact that if something did go wrong it wouldn't fall far before it became a takeover target - then it would go back up again.

Todays reaction to the EIA shows its all fragile still - a way to go yet.

A short week this week - LSE closed Friday for VE Day - not sure if oil is trading?

Kraken
"PMO are in a slightly worse position than us with current oil prices but the market seems to love it and the SP will move faster than ours."

Maybe its the traders and the shorts that create the volatility for PMO - with Enquest it's much more down to economic reality good and bad.

The private investors dread word - dilution - we be to the fore in the months ahead.

Luckily I don't think we have that danger with Enquest - here it is just the judgement of where Brent is going.

Choosing companies that won't need new funding and ditching one's that might - such as PMO if reports are correct - could be the biggest call left to us in 2020.

The room for optimism has to be that some companies continue to trade well with some even trading at record levels - such as Ocado 40% up in Q2 - the Governments schemes are certainly protecting the economy and providing that this doesn't go on for to much longer I think that we can expect a good bounce back in H2.

This is the best option.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html

Yes.

Fantastic - 4 years in the making for me here - patience does pay off - eventually.

I never left Ammu - as I said before I have reduced from the beginning of the year and at some stage will be averaging down.

Even better news elsewhere this morning though ITX - are you around spindok? - 4 years in the making.

Good momentum building now - much happier now but keep an eye on those chickens.

Goldman Sachs raised its 2021 forecast for global benchmark Brent crude prices to $55.63 per barrel from $52.50

I always told you things would come good Ammu….