Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Monday, September 10, 2012

SapuraKencana JV secures US$45m contract

KUALA LUMPUR: SapuraKencana Petroleum Bhd's joint venture SapuraAcergy Sdn Bhd has secured a US$45mil (about RM140mil) contract to provide a vessel in the Gulf of Mexico.

It said on Monday SapuraAcergy Sdn Bhd was awarded a contract to provide a vessel Sapura 3000 to Construcciones Maritimas Mexicanas S.A. de C.V. SapuraAcergy is a JV between SapuraKencana and Subsea 7 S.A.

"The award comprises provision of Sapura 3000 to undertake heavy lifts in the Gulf of Mexico region. The charter commenced on Aug 18, 2012 for a duration of 125 days," it said.


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