Prosperity Marks Craig Group's Anniversary Year

MarineLink.com
Tuesday, November 05, 2013
Douglas Craig: Photo courtesy of Craig Group

Aberdeen head-quartered global shipping and energy services firm, Craig Group, has marked its 80th anniversary with strong performance as it lodges its accounts at Companies House.

The privately owned, family-run business, now employing the fourth generation of the Craig family, has reported turnover of £146.8 million with operating profits of £17.4 million for the year ending 30 April 2013. These are up on the previous year when turnover was £123.3 million and profits were £15.2 million.

The group, whose core activities are the provision of offshore support, ROV survey, emergency response and rescue vessels (ERRVs) and oilfield procurement, provides employment for 1,062 people, 925 of which are mariners crewing the group’s fleet of 37 vessels.
 
Capital expenditure in the year was £37.4 million of which £27.8 million was spent on the continued modernisation of the fleet of emergency response and rescue vessels.
 
Craig Group chairman and managing director, Douglas Craig, said: “"These results reflect our continued strong performance in our core areas of shipping and oilfield procurement. Our considerable capital expenditure in new tonnage to ensure the safest and most modern fleet and investment in new global bases for CIS have consolidated our market leading positions in these areas. We are also generating the cash flows required to sustain growth and new employment in the future."
 
The Craig Group fleet is operated by group division, North Star Shipping, who saw its turnover increase by over 15% to £92.6 million. Two new ERRVs were completed within the financial year with a further two new vessels to be delivered during 2014. .
 
Turnover at Craig International Supplies (CIS), the group’s oilfield procurement division, rose by almost 30% from £37.6 million to £48.3 million.
 
Mr. Craig added: "“Our investment of £230 million since 2003 in new vessels has ensured we have the largest and youngest British wholly owned fleet engaged in the UK offshore industry. This has enabled us to win new contracts and retain existing ones as oil and gas operators are rightly demanding the best vessels and crews to support operations in the North Sea."
 
“"The opening of new bases for CIS in Poland and Ghana while bolstering our existing operations in Cape Town and Houston has significantly extended our global reach helping us secure new business, increase our buying power and offer greater efficiencies to customers.”"
 
During the year, the group paid dividends of £3 million for the first time in three years.  Directors’ remuneration totalled £1.24 million with the highest paid director’s emoluments standing at £500,000.
 
The group donated £374,000 to various charities and local causes in 2012. This includes the on-going donations, together totalling £2 million, to Robert Gordon’s College and the University of Aberdeen’s new library as well as one-off contributions to Friends of Anchor, Aberdeen International Youth Festival
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Volvo Penta Names Brown Commercial Marine Sales Director

Dave Brown has joined Volvo Penta of the Americas as director of commercial marine sales.   In this new position, Brown will provide strategic and administrative

Romica Manufacturer Secures DNV GL Approval

U.K. winch maker Romica said it is to “redouble its exports drive” after its Romania-based manufacturing partner successfully acquired accreditation with DNV GL.

Offshore

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Migrants Survivors Tell of Struggle at Sea

The bodies of 21 women and one man were brought ashore to Sicily on Friday as fellow migrants described scenes of panic and violence when water poured into their dinghy.

Three Keppel Dredgers for Jan De Nul

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to

Finance

Will UK Maritime Traffic Rise or Fall on Brexit?

UK container traffic will see more muted growth than expected a few months ago, at least in the short term, says Drewry.   Patrick Walters, Peel Ports’ Group Commercial Director,

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

India Govt Subsidy for Ship Building Industry

Maritime Agenda 2010-20 has inter-alia set a target to increase percentage share of India to 5% in global ship building and 10% share in global ship repair for India by 2020.

People in the News

Volvo Penta Names Brown Commercial Marine Sales Director

Dave Brown has joined Volvo Penta of the Americas as director of commercial marine sales.   In this new position, Brown will provide strategic and administrative

HII Names Leonard a Corporate Director

Capt. Joseph J. Leonard (U.S. Navy, Ret.) has joined Huntington Ingalls Industries (HII) as corporate director of customer affairs, large surface combatant program, the shipbuilder announced.

Piracy Drops to 21-year low - IMB

Piracy and armed robbery at sea has fallen to its lowest levels since 1995, despite a surge in kidnappings off West Africa, according to a new report from the International

Offshore Energy

Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1423 sec (7 req/sec)