Thursday, March 29, 2012 11:11:53 AM
The big jump in activity at the Channelview shop was obvious. The head count has been the highest ever seen and the tempo of iron moving through has been non-stop for months now.
The flotation orders filled in early 2011 were at low or no margin but the LSFLs were always higher margin items. C3 work appears ready for paint with all 12 sections complete (or nearly so). As before, some slippage in delivery timing but nothing like the Delba disaster that imploded FT.
I'm on the bid if anyone would care to shed some shares.
Easy 3-5 bagger in the next 6 months with status quo if they keep their noses clean and a possible 10 bagger from here if they tag a big job like a subsea boosting gig or a few more carousels.
spec
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