Member Info for chilting

Load #35 is going to an interesting location - a big refinery up the Mississippi River beyond New Orleans at Gramercy in Louisiana. The refinery is a start point of one branch of the Marathon Pipeline that extends all around the US. Presumably they need Kraken crude to mix in with their light crude.

Toyota are establishing strong contacts with Tsinghua University - Weichai Power already have a strategic cooperation - all good for Ceres.

http://weichai.com.vn/en/news/weichai-power-and-tsinghua-university-strategic-cooperation

New info here on Toyota's role in pushing hydrogen technology in China - it confirms the intent of this collaboration between the Chinese and Toyota.

Read this and Burton's link below for the whole story -

https://uk.reuters.com/article/uk-toyota-china/toyota-establishes-research-institute-in-china-to-study-hydrogen-green-technologies-idUKKCN1RX0L8?il=0

KOH
No, its not a deadline as such but the City will expect some response from SM by the end of April - the trouble is that as we have seen before any response creates short term volatility in the SP and at this delicate time that is bad news.

working towards obtaining firm commitments for the Alternative Proposal and its additional financing requirements during Q2 2019 - would have been much better

The deal would be put together by a major global financial institution but it could still be Hancock who are the lenders - I am suggesting cash for equity so I guess they would want a 60-70% stake in SM.

Apologies Scotman - I am simply annoyed that SM may have given themselves another deadline that they cannot keep and will have to come back with another RNS explaining why.

As for Hancock I still firmly believe that they could be the financial backer for the $3 billion in return for equity - it all fits so well - Hancock need to diversify away from Iron Ore and agriculture and the scale of the SM project matches their own ambitions.

https://www.royhill.com.au/overview/

We are fast reaching a point where no news is not good enough - SM's end of April deadline.

The board of SM don't make many mistakes but by repeatedly giving itself financial deadlines over the last year they have ramping up the pressure to an unnecessary degree - we know there is still enough cash to continue development for a while yet and Hancock would probably give another loan.

It would have been far better if they had just said discussions were continuing and given no time scale and left it at that.

Squif
I think it does to some extent - it means that we needs a very big push, in a slack market, to get us away from the last few negative years and the dismal broker ratings.

It did seem that we would do that a few weeks ago, volume increased substantially, but now we are back in the doldrums again, until the market lights up we may still just drag along the bottom.

One factor that has been holding down the SP is lack of volume - this story from Reuters confirms that the whole market is affected - its all rather flat.

https://uk.reuters.com/article/us-britain-eu-city/brexit-inertia-means-londons-finance-workers-face-summer-slump-idUKKCN1RU2HZ

Still, look on the bright side, maybe Sticky Vicky and her ilk will be judged suplus to requirements.

Draught of 12.2m confirms approx 550k.

HK has finished and is on her way to Scapa Flo - 28 hours - no news of draught yet but the size of tanker for the STS indicates probable 550k load standard load.

25 hours and counting

17 hours and counting.

I was just doing some reading up on Hancock and was stuck by the striking similarities between their Roy Hill project and the Woodsmith Mine. There is the same touch of detail, grand design and community involvement.

All very interesting and adds to my believe that Hancock could provide the $3 billion for an equity stake in SM.

https://www.royhill.com.au/overview/

Still not quite there - 16.00 should be OK to pencil in.

HK - still on track for a mid afternoon hook up.

HK has to approach AK from the north west - the safety vessel is already in place for the hook up.

HK has speeded up a bit now - its looking much more likely that we will get a hook up this afternoon - maybe around 2pm.

Yes, that could certainly be the case and would have to be if there was an accelerated book build element for some of the funding.

ETA is arrival time at the field - shuttle tankers slow right down as they approach for hook up - it always goes into slow motion as hook up gets closer - tanker tease.