Member Info for chilting

SN is passing between Orkney and Shetland on her way to AK - ETA has changed from 14.00 to 17.00GMT - so it looks like hook up is more likely tomorrow - that would be 9 days since the last load - although AK probably wasn't empty when load 57 left, she probably had a couple of days production still aboard as a result of the stormy weather - the weather is set fine through the next ten days.

At least the SP is back over 25p

EnQuest Plc
24.46
25.16
0.80
3.28%
25.04
25.16
4,457,806
15.30

29.88
16:29:50

SN is making her way through the Hebridean islands at the moment - just passing Rum - at a steady 13.6 knots - ETA is around 24 hours time - weather is set fine throughout the 10 day forecast period.

I came across this in relation to Cash-Settled Derivatives and Takovers - I don't understand much of it but it may give some board users insight into what Polygon are up to.

https://orbilu.uni.lu/bitstream/10993/9239/1/SSRN-id2192521.pdf

"Itaconix® TSI™ 322 is the result of the Company's ongoing engagement with current and potential customers on a new generation of non-phosphate dishwashing detergents to meet changing consumer buying behaviour. The key advance with the new polymer is the ability to deliver excellent performance while replacing multiple ingredients to achieve cost savings and more sustainable and compact products."

Looking at the consumer reviews for Finish Dishwasher Tablets on Ocado it seems that when phosphates were banned there was quite a backlash by consumers claiming that the new formulations didn't work. RB seem to have tweaked the formulation since then by adding additional chemicals but presumably as ITX say that adds to the cost.

If ITX have cracked it as they say todays news could be very significant for future sales - look out for an RB RNS - Reckitt Benckiser manufacture Finish Dishwasher Tablets.

So last weeks announcement of the ending of the Nouryon detergent polymer deal was the precursor to todays announcement of a new product that sounds like it does everything it does on the tin - great news!

Ajes
Kraken production was poor in the first three months of 2019 it improved later in the Spring and has been excellent since the Summer - if AK continues to perform at current level throughout 2020 then production will be significantly higher.

ST has increased speed to 15.6 knots - she is just crossing the route of the Holyhead to Dublin ferry.

SN now on her way showing a good speed of 13.8knots - ETA Wednesday, that would be 8 days since the last hook up - its likely that AK still has a few days production that NO didn't clear on load 57 - so still playing catch up after the stormy weather.
The weather is no problem at all for the next 7 days.

Stena Natalita is currently unloading at Milford Haven - ETA is 14.00GMT on Wednesday.

YOY25 - The ETA is recorded first on the Vessel page at Marine Traffic.
https://www.marinetraffic.com/en/ais/details/ships/shipid:375935/mmsi:311814000/vessel:STENA%20NATALITA/_:d2008b107ff7aea4d27a6a65dc17cf0a

The turning point should be the factory completion at Bessemer park in Q3 2020 - but its all spend this year - I guess bigger rewards will start to come in 2021.

Looking back is often painful for a growing company - its the future that maters.

All sentiment driven at the moment - death and gloom - however it is the Chinese Year of the Rat !!!

https://www.deviantart.com/inhuman-infatuation/art/Plague-rat-wip-738780792

Load 52 - this was the load of Kraken crude that Enquest sold to the Arabs - is now close to her destination at Fujairah in the UAE - Eco Bel Air is currently anchored just down the coast.

https://www.marinetraffic.com/en/ais/home/centerx:56.698/centery:24.595/zoom:14

The latest load collected by Navion Oslo has now reached Rotterdam - it is being unloaded in a part of the port that seems to be involved with fuel blending - Botlek Rotterdam.

https://www.marinetraffic.com/en/ais/home/centerx:4.281/centery:51.887/zoom:15

HMHn
This has happened 3 or 4 times now to Kraken crude since the Summer - these large super tankers seem to collect their loads as they go -from Sullom Voe to Skagen or Rotterdam then sometimes more STS transfers in the Med before heading through the Suez Canal with the final destination usually being Singapore.

Chesh
"Wouldn't the "mysterious consortium" have become the preferential option, if AAL didn't bid...?"

Yes, and maybe the only option - but we simply don't know how good an option.
The fact is that they probably did push up AAL's offer price, simply by their presence.

Anything else is speculation - but maybe the AAL offer was more than they wanted to pay.

spike
My thought was that as a gesture of goodwill AAL could pick up the cost of dealing charges for any SM shareholders who want to buy AAL shares - say over the next 24 months - they can easily do that because they have a special arrangement with Equiniti for share dealing.

Looking at the current situation logically it does seem that this mysterious consortium did actually have some influence on events simply because of the level of the AAL bid - above what they needed to offer - and the fact that they bid at all - they could have waited for administration.

I guess that there is an outside chance that they are still lurking but time is certainly running down now, although maybe there is some hope.

However, even if there is a white knight the resulting dilution would probably be horrific for existing shareholders, so in that situation the AAL bid could give more value. The fact that AAL didn't give a option to exchange SM shares for AAL shares is disappointing. Maybe it would be a good idea to ask AAL if SM shareholders could purchase AAL shares at zero cost dealing rates.

Note that PC mentioned Honda - we still don't know what contribution - if any - that Ceres is making to the Honda Isuzu deal.

https://www.themanufacturer.com/articles/honda-isuzu-test-fuel-cell-powered-heavy-duty-trucks/