RE: Howeldp6 Feb 2018 06:10
Good morning super,
We are both right. Amed have a jv, called YZJ Offshore, with Yangzijiang Shipbuilding. This is detailed here http://www.amedeoresources.com/en/content/7-investments/17-yzj-offshore
Orders won by the jv are built at its yard http://www.yzjship.com/en/company.asp?sid=11 rather than one of the other yards listed on the left hand side of that page.
Ship orders are relevant to AMED if the order is won by the jv. Yangzijiang are, however, primarily interested in AMED's expertise and contacts in the rig sector. That said, as stated on AMED's website, "the new yard is fully operational and has the capability to build various marine vassels including jackup rigs, semi-submersible and accommodation units, as well as the ability to build blocks for container ships and gas carrier vessels."
As for the current rig order not being built for a client, you know that is wrong and you really should be careful about making such statements on a public forum. I say that with respect.
The original order, as detailed in the RNS, was for $170m and was then modified by the client to include additional features, resulting in a re pricing to $175m. However, Keppel then took over the order and decided against the additional features, meaning the order value remained at $170m.
I can only presume, as it is not confirmed by further RNS, that it is its client that is arranging finance for our completed rig. Obviously, Keppel themselves are a huge player in the rig market.
I hope that clarifies things for others. We are both at one with the current positions It's just I am a large holder of AMED stock and you are a former holder. I feel sure you will get back in at some point and I hope it will prove to be a profitable position for you.
Meanwhile, it is tin hats time for the general markets today.
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