SMM

SMM:

** Tight rig supply as utilisation rates are still high for jack-up rigs (96%) and semi-submersible (95%)
** heavy E&P investments shld cont given current record oil px.
** Positioned to increase its yard capacity at its Jurong Shipyard, possibly leasing additional yard space from SCI.
** Running for Petrobras' US$1.9b VLCC contract.

There are simply no reasons why SMM should not go any higher towards 3.2s. But the stock mkt is nv a true reflection of what it actually represents. Made up of us and behaves totally like us. Unpredictable and often reserved. when it comes out, you could be hit badly straight to hell or get lifted right thru cloud nine.