Pacific Radiance, affiliate seek listings in bet on offshore energy boom | Reuters

It allowed exemptions three years later to

vessels in the oil and gas sector due to a shortage of such


Offshore exploration and spending in Indonesia is expected

to more than double in the next three years to $6.3 billion,

outpacing the 60 percent increase globally, according to energy

consultancy Douglas-Westwood.

Pacific Radiance, which unveiled the IPO plans on Wednesday,

itself would become the first offshore support vessel operator

to get listed in Singapore since 2010. Offshore marine services

company POSH Semco, controlled by Malaysia’s richest man Robert

Kuok, is also planning a listing in the city-state, sources said


(Reporting by Rujun Shen; Editing by Ryan Woo)

Singapore-listed ASL Marine Holdings Ltd also said

recently that it plans to list its Indonesia affiliate PT

Capital Nusantara Indonesia in Jakarta.

More than half of Pacific Radiance’s fleet of 133 vessels

are owned and operated by its affiliates in markets with

cabotage rules, such as Indonesia. It will join a

growing number of listed offshore oilfield service providers in

Indonesia, including PT Wintermar Offshore Marine Tbk,

whose share price has gone up over 34 percent so far this year.

By Rujun Shen


SINGAPORE Nov 8 Singapore Offshore oilfield

services provider Pacific Radiance Ltd and its Indonesian

affiliate are looking to list their shares to benefit from

rising investor interest in vessel operators expanding in the

fast-growing offshore energy sector.

Exemptions for speciality ships commonly used in offshore

oil and gas fields, including AHTS vessels (anchor handling tug

supply vessels), PSVs (platform support vessels), and DSVs

(diving support vessels), expired at the end of last year.

Exemptions for other types of vessels are to be phased out in

the next two years.

Pacific Radiance said it expects Logindo to be listed by the

end of the year but did not disclose the size of the offering.

Sources with knowledge of the plan have said the size of the IPO

would be around $40-60 million, declining to be identified

because the details of the proposal are confidential.


The proposed Logindo IPO follows in the footsteps of PT

Pelayaran Nasional Bina Buana Raya Tbk (BBR), part of

Singapore-listed Marco Polo Marine Ltd. In Indonesia, laws requiring

offshore vessels to be Indonesian-owned have limited supply and

driven up the cost of chartering such vessels.

The listing will give Logindo a chance to raise funds to

expand rapidly as competitors race to build up capacity in


“Indonesia is a big opportunity for companies that are able

to set up operations with local partners and have the capability

to raise the funds to invest in the fleet,” Yoke Min Pang,

executive chairman of Pacific Radiance, told reporters on


Logindo, in which Pacific Radiance owns a 49 percent stake,

has a fleet of 58 offshore support vessels. BBR made its

debut on the Indonesia Stock Exchange in January.

The planned initial public offering of affiliate PT Logindo

would make Pacific Radiance the second Singapore-based offshore

support vessel owner to list its Indonesian arm in Jakarta this


Chartering rates are at least 20 percent higher in Indonesia

than other markets, Pang said.

In 2008, the Indonesian government introduced cabotage laws

that required vessels to be owned by Indonesian companies and

fly Indonesian flags

Are You Looking For A Sample Cover Letter For Offshore Oil Rig Jobs?

For example, an offshore roustabout position may specify 2 years of relevant experience. If you can show HR that you’ve already cleared all the red tape needed to hire you, they are more likely to put your resume in the “Call For Interview” pile.

Forget the perfect cover letter. When you go through regular channels, you won’t beat rivals who have relevant real job experience. What turns on a particular HR officer will just bore a different officer.

Nothing beats qualified practical on-the-job experience, but if you don’t even have any relevant training then your chances are practically nil. Keep it clear, short and simple, and direct HR to your resume for more details.

3. Do you also have some experience or training in electrical work? Can you offer a two-in-one deal to HR? If the company hires you to be a mechanic, can you sometimes help out the oil rig electrician?

2. Do you have a “6 GR” certification from CITB (UK) or certification from AWS (US)? Can you provide examples of welding particularly tricky joints that can be found on an oil platform?

An example of showing more depth is having more years of experience than everyone else. On the other hand, every chance you grab to put Lady Luck on your side is a step closer to getting offshore drilling employment.

Article Directory:


First aid

Helicopter underwater escape training

Offshore survival




Relevant local union membership

Are you looking for offshore oil rig jobs? Click here to learn how can help you to quickly and easily find offshore drilling jobs.

Cover letters for offshore drilling employment must highlight your most important points and persuade HR to read your resume. The oil industry is of strategic importance to most industrialized nations, so there are often relevant courses offered by technical colleges. That’s fine – government rules don’t always make sense, and things only get more complicated when you mix in the unions and trade associations. Your cover letter must make them desire to read your resume, and finally, your resume must get them to shortlist you for an interview. What Is Your Most Relevant Job Experience?

How about more breadth? Let’s say you are looking for work in the motor room.

If you are looking for offshore drilling employment, you need HR to read both your cover letter as well as your resume. In addition, ex-servicement also receive subsidies to train for the oil industry.

This is one of the major criterion HR uses to decide whether or not to trash your job application. To do this, you need to show either more breadth in your experience, or more depth.. You have to put forward your most relevant prior job experiences and tie them to the job scope and qualifications listed in the job advertisement. When competition for an oil rig job is stiff, you need to immediately show that you are qualified for the vacancy. After all, it means you are saving them a lot of work.

You’ll note that some of these hurdles don’t make sense. Start Work Immediately

Another example would be rig welding jobs. Then you need make them interested enough to read your cover letter. First, you need to attract their attention. Just like you want a job now, they want a worker now! That means if you can start work immediately, you can sometimes trump a rival with better experience.

Training doesn’t come cheap, but it beats submitting a blank resume with no experience. There is no such thing. However, what can be definitely said is that the first half-page of your cover letter is the most important. Working of an offshore oil rig involves a lot of red tape. It must contain at least one of these three powerful elements.

By: Calvin Loh

This isn’t the only point. What Are Your Outstanding Points

So what kind of red tape do you need to wade through? That depends on where you are going to work and who you are going to work for, but here is a sample:

No company likes to wait for a job candidate to become available. In the US, the Department of Labor’s JobCorps program offers some form of subsidy for disadvantaged youths. Unless you are getting a job through the back door, your cover letter together with your resume can make or break your job application.

Now that you have persuaded the HR personnel that you are qualified for the job, you need to tell them what makes you special and why they should open your resume. What formats they like best largely depends on which university they got their degree from. The UK is no different. Some local state governments may also offer further subsidies. If you have 5 years of experience, you’ll clearly beat out quite a lot of your rivals for the vacancy.


10 Tips for Betting on Football

On college you will be able to find different lines at different sports books. He loses year after year, according to Dan Gordon, a top football handicapper and author of How to Beat the Sports Books (Cardoza Publishing 2005).

However, Konik adds that there are some bettors who actually know how to beat the bookies. Drinking and Gambling Don’t Mix – “There is a reason the casinos in Las Vegas supply you with free drinks while you are gambling,” Moseman says. “Teams play inspired ball at home. Not all games work according to this formula, but it is usually a good rule of thumb.”

10. Shop For Numbers – “Another important aspect of betting on football is shopping for the best number,” Moseman explains. Also, being “in action” can make a dull late-afternoon game (Buffalo vs. Chasing losses is the fastest way to the poor house.”

And where does all that money go?

Certainly not back into the pockets of the average bettor. Avoid Exotic Bets – “For very skilled handicappers, with a proven track record, there can, at least in theory, be value in betting parlays,” says Gordon on the type of bet that combines two or more individual wagers. Focus on Conferences – “The best way to win money betting football is to develop a niche and follow it closely,” Moseman advises. “For example, if you have a $1,000 bankroll for the season, you should generally bet no more than $50 a game.”

“There is probably no better bet in sports than playing an underdog at home,” Moseman says. “When you’re in a good rhythm and winning, you want to increase your bets. There are almost an infinite number of scenarios that can happen in a single football game. Consider Underdogs – “In the long-run, it’s easier to win betting on the underdog,” Konik says. Giving 11 to 10 odds is almost always the cheapest price you can give.”

Betting on football games; whether it’s through a local bookie, an offshore Internet site or a Nevada casino (still the only legal place in America to make football bets), most of us have done it or know of someone who has.

Although exact figures are impossible to calculate, according to Jimmy Vaccaro, widely considered to be Las Vegas’ most influential bookmaker, Americans probably wager more than $50 billion a year on NFL and college football combined.

6. “There will be more discrepancy in the numbers at different sports books. Slim underdogs regularly win outright. Big underdogs often find ways to cover the spread and they rarely give up toward the end of a game in front of the home crowd.”

2. Bet at the Right Time – “The sharp bettors tend to bet underdogs, and they tend to bet them early,” Moseman says. The NFL, for example, will have very similar numbers at most of the betting shops you visit. He is not taken in by being involved in USC-Notre Dame just because it is the biggest watched game of the day. Oakland comes to mind) seem like the Super Bowl. To be a successful sports bettor you need to operate with a clear mind.”

“A square or recreational player might have a vague plan, but after two Corona’s he will definitely run to the window and make a hasty decision on the USC-Notre Dame game because he wants to be involved in the party atmosphere,” Vaccaro says. In fact, sports bettors must pick 52.4 percent winners just to break even.”

Michael Konik, a sports writer and best-selling author of The Smart Money (Simon & Schuster 2006), explains why it is so hard for the recreational gambler to win at betting on football. If North Texas is his best bet on a Saturday then that is his bet. “If you listen to their advice, you are sure to lose.

4. And why not? We have unconditional love for the sport and betting $50 or $100 on a game adds an extra rush of adrenaline. The only touts bettors should consider are the ones who talk about the long haul and realistic winning percentages, which are in the upper 50 percent to lower 60 percent range.”

Newspapers and popular sports sites routinely publish the lines or point spreads for games, and football insiders offer their picks to viewers each week on ESPN and other cable networks. “Common wisdom says that over the course of a long football season the average man or woman will pick approximately 50 percent winners. Locks Don’t Exist – “Anyone who has watched sports for about a month realizes that the difference between winning and losing, especially against the spread, can be infinitesimally small,” Gordon says. They use powerful computers that can process millions of bits of data and produce a more accurate point-spread line than the bookmakers.”

Ted Sevransky, a well-known Las Vegas gambler and sports consultant with, agrees.

But that doesn’t mean you have to bet like a “square” and throw away your hard-earned money.

Even Hollywood is not immune – think Two for the Money with Al Pacino and Matthew McConaughey.

Another difference between squares and sharps is how they approach betting on game day.

But even though the math says it’s virtually impossible to win on a consistent basis, Americans continue to bet on football. Research Football Services – “Most sports services realize that most people who sign up with them are insecure,” Gordon warns.

1. “He is not jaded by teams and does not bet with his heart. “In the NFL, a game will often be totally turned around by one or two plays, or even a single penalty. “In trying to bamboozle potential customers, many services make claims about having scouts all over the country that give them inside information and promise 70 or even 80 percent winners, as if the bookmakers were the biggest suckers in the world.

“A square is the average, unsophisticated gambler whose decision making is based on hunches, media manipulation, or spurious systems that cannot overcome the bookmaker’s inherent mathematical advantage,” Konik explains. “The sharps are usually members of a betting syndicate privy to the most up-to-date information on injuries, weather, game plans, and, most important, the real power of the teams involved.

“A sharp or smart has a plan of what he wants to do,” says Vaccaro, the director of sports operations and public relations at Lucky’s Race and Sports Book in Las Vegas. “Squares usually bet later in the week and they tend to pick the favorites.

“The standard bet requires gamblers to lay $11 for every $10 they want to win with the extra $1 or 10 percent known as the juice,” Konik says. Otherwise, you’re better off doing your own research.”

“The biggest mistake that amateur bettors make is they increase their bets when they are losing,” Sevransky says. But, when you’re struggling, that’s when you want to reduce your bet size until you get out of your slump. Thanks to the juice, the only one who profits in this scenario is the bookmaker. There is a wealth of information on the Internet; it is just up to you to find it and research it daily.”

“Most people with an understanding of football gambling bet between 3 percent and 5 percent of their bankroll, increasing when they win and reducing when they lose,” Vaccaro says. “Because alcohol clouds your judgment and usually helps you to make rash decisions you usually wouldn’t otherwise make. Money Management – “This is without a doubt the most important aspect of betting on sports and possibly the most neglected,” says Morey “Doc” Moseman, a professional gambler and sports consultant with for nearly 40 years.

3. “If you become an expert on a smaller conference like the WAC, you have a good chance to beat the house because sports book operators do not have the time or resources to follow this conference the way you can. These books change their numbers according to the betting patterns of their customers, so it is not entirely uncommon to find two or three point differences in the lines.”

“The bookies fear and despise a tiny coterie of professional bettors known as ‘the sharps,'” Konik says. “Most people prefer to bet on the ‘better’ team, the one that will probably win the game. “Thus, the bookies love and cherish the squares.”

“The talking heads on TV know nothing about sports betting,” says Sevransky. Avoid Chasing Bets – “Don’t do it! There is no worse way to mismanage your bankroll than to chase your bets after a losing day,” cautions Moseman on the dangerous practice of trying to immediately win back your losses. “The key to proper money management is to be sure not to bet more than you can afford to lose.”



And remember, in the immortal words of “Fast” Eddie Felson, “Money won is twice as sweet as money earned.”

So, is it possible for the average square to become a little sharper in making football bets this season? According to professionals like Vacarro, Konik and Gordon, amateur bettors have the best chance to win if they demonstrate a little patience and follow the 10 basic tips below. The payout is just the same as far as he is concerned. “Over the course of several seasons, the percentage of bettors who turn a profit is minuscule.”

7. If you are going to go with a favorite, it is best to place your bet early in the week when the sharps are laying heavy money on the points.

While these tips don’t guarantee you’re going to win, hopefully they can make you a little less square and a little more sharp in your picks this season. . If you want advice about sports betting, find someone who has a successful track record.

Also, it’s probably a good idea to disregard advice from the myriad of ex-players and football experts you see on television each week. If you like an underdog, it is best to get your bet in as late as possible, where there is heavy action from squares on favorites.

So, how much should you bet a game?

So, how much are we gambling each football season?

8. “As for me, the best bet in football is betting the point spread or over/under totals on individual games. So underdogs tend to be slightly undervalued – except by the sharps.”

“In an average season, fewer than one bettor in twelve turns a profit,” Gordon says. The only locks that exist are those that need keys to open them.”

Moseman agrees and especially likes home underdogs