Stocks that Float: TANKERS & DRY BULK SHIPPERS

[xanadu90]

SDRLF.PK Big Wolf on move again. "SDRL intends to issue up to US$900 million in principal amount of convertible bonds with a five year tenor." Now, everybody is guessing, which one of the rivals will be bought up. Most voted: Ocean Rig (OCR) and PetroMena (PMENA). Oh boy, you never have time enough to get bored with this guy.

Analyst: "Seadrill - BUY - Target NOK 150

The Seadrill stock is being pushed down by hedge funds wanting to lower the strike price for the convertible loan of USD 900m that will be fixed today at 40 - 45% above today's share price.

This gives an excellent opportunity to BUY the Seadrill stock, as we should see a rebound on Monday when the pricing has been set.

The USD 900m will also act as important financing for the company which could also increase their dividend capacity short term, as it will enable the company to increase the gearing.

We spoke to Seadrill today, and they are very BULLISH about the market outlook, and if the Ocean Rig rigs now will be taken out, Seadrill will have the next deepwater capacity available and be in an excellent position to secure very high rates."