Penguin International

[GenS70]

Annual report out- another great and very readable letter to shareholders, enjoy and do share your thoughts

[new-comer1]

https://www.rivieramm.com/news-content-h...ment-59248

[xlandjy]

https://www.rivieramm.com/news-content-h...environmen

From the comments of James Tham, the company seems to have a very bright outlook for this year and next.

[lonewolf]

The argument made in the article about the greater use of crewboats vis-a-viz helicopters is premised on the assumption that the offshore platforms will continue to operate in the current low oil price environment.

The estimates for the breakeven price for offshore oil production is between the $40-$60 per barrel.

(SOURCE: Big E&P spending still needed, but fields with break-even above $60 are priced out: Rystad Energy)

Currently, the crude oil price has been around trading around the $30 mark. 

If the oil price remains at this level, then a lot of the oil platforms will cease operations. And by extension, the demand for crewboats is going to be negatively affected. It won't matter how much cheaper it is compared to helicopters if the oil platforms are not operating.

[brattzz]

oil prices = number of drill rigs = number of crew = number of crew boats...

[¯|_(ツ)_/¯]

11 May 2020 Penguin div and eAGM update

(click for details)

div 1.75cents xd 10 Jun 2020
eAGM 29 May 2020 10am sgp time
(click to pre-register)

Stay home and stay healthy, everyone.

[new-comer1]

Penguin selects Schottel tunnel thrusters for new series of fast crew boats

https://www.marinelog.com/offshore/pengu...rew-boats/

Following a successful testing and evaluation program, Singapore-based Penguin International Ltd. has selected Schottel’s STT 51 FP tunnel thrusters for its flagship Flex-42X series of eight executive fast crew boats.

The STT 51 FP tunnel thrusters feature a 95 kW electric motor controlled by a variable frequency drive.

As the vessels are based on a completely redesigned aluminum monohull form, the STTs feature an aluminum tunnel as well as an aluminum lower gear housing. They thus support the vessel’s overall material properties with the advantages of reduced vessel weight and enhanced performance. Additionally, the STT’s general low levels of noise and vibration support the vessels’ complete smooth ride, berthing and mooring.

The newly designed mid-size Flex-42X has an overall length of 42.00 meters, a molded breadth of 8.00 meters, and a design draft of 1.60 meters. The clear deck cargo area is about 110 sq.m, the fuel capacity is about 80,000 liters.

Penguin is an integrated designer, builder, owner and operator of high-speed craft as well as a prolific builder of mid-sized crew boats and armored security boats for sales and charter.

The Flex-42X vessels provide luxurious business class seating for 80 passengers and have a crew of 12. They support offshore oil and gas activities, maritime security services and other high-speed transportation requirements for personnel and cargo.

[Squirrel]

Responses to AGM questions

http://www.penguin.com.sg/wp-content/upl...y-2020.pdf

The live webcast is at 10am today. Will anyone be attending? This is a rather important meeting to attend but unfortunately I won't be able to. Would be great if someone could share further discussions made during the webcast.

[thor666]

Responses to AGM questions

http://www.penguin.com.sg/wp-content/upl...y-2020.pdf

The live webcast is at 10am today. Will anyone be attending? This is a rather important meeting to attend but unfortunately I won't be able to. Would be great if someone could share further discussions made during the webcast.

Hi squirrel, I join the meeting late due to browser incompatibility issues. For most part of the AGM, there is not much difference from what is posted (generally reading off script, votes need to be pre-submitted).

Of interest would be penguin's business last year. There are more demand of penguin's boats for defence purpose (e.g. NSW coastal police).


Generally, expect a difficult year as oil prices are likely to remain stagnant.

Sent from my ONEPLUS A5000 using Tapatalk

[Squirrel]

Responses to AGM questions

http://www.penguin.com.sg/wp-content/upl...y-2020.pdf

The live webcast is at 10am today. Will anyone be attending? This is a rather important meeting to attend but unfortunately I won't be able to. Would be great if someone could share further discussions made during the webcast.

Hi squirrel, I join the meeting late due to browser incompatibility issues. For most part of the AGM, there is not much difference from what is posted (generally reading off script, votes need to be pre-submitted).

Of interest would be penguin's business last year. There are more demand of penguin's boats for defence purpose (e.g. NSW coastal police).


Generally, expect a difficult year as oil prices are likely to remain stagnant.

Sent from my ONEPLUS A5000 using Tapatalk

Thanks for sharing! Were there more discussions regarding the dividends to the chartering division? That is a part that I don't understand how it works and why that is being done.