What Goes Around Comes Around - Sale of Ex-Sanko Energy Firming AHTS Values
Those who are old enough (or young enough) to remember Justin Timberlake’s poignant lyrics, ‘What goes around, goes around, goes around, comes all the way back around’, will appreciate their significance and relatability to the offshore oil and gas market. On that theme, it appears a vessel very close to my heart, the AHTS previously known as Sanko Energy (now Ena Shogun), has come 'all the way back around.'News is filtering through the market that Eastern Navigation (Singapore) has sold the vessel five years after purchasing it from Sanko Steamship in early 2017.So why does this vessel resonate with me? Well, from a professional perspective, it was my first analyst experience of a sale that went against everything established market experts thought about values and sale prices.
Federal Budget Proposal Released
The White House issued a Press Release stating that the proposed FY 2005 federal budget has been sent to Congress. As can only occur in Washington, the agencies are lining up to explain how happy they are to have their budgets cut or capped. The Department of Homeland Security (one of the few winners in the battle of the budget) announced that a $3.7 billion increase in funding to $40.2 billion has been proposed for the department for FY05. On border and port security, the budget includes $411 million more than in FY04 for customs and border patrol, immigration and customs enforcement, and the Coast Guard. For seaport security, the president proposed an additional $25 million over last year's funding for the final phase of a pre-screening cargo initiative.
