Bumi Armada takes a beating on Armada Kraken FPSO shut in
KUALA LUMPUR: Analysts were quick to act on news of Bumi Armada Bhd's shut-in of top performing floating production storage and offloading (FPSO), Armada Kraken, by downgrading the stock and cutting its target price on a worse case scenario of between three and six months of idle time given the absence of a potential restart of production date.
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