Profitable Year for Shipbuilding Companies

Wednesday, February 15, 2006
Increased spending on offshore exploration & production (E&P) of oil and gas has increased order-book positions of Indian shipbuilders. ABG Shipyard has an order backlog of Rs 1,300 crore, while Bharati Shipyard has pending orders worth Rs 676 crore on its books. The jump in order books is getting reflected in stock prices of these companies as well. BSL has seen its market cap soar to almost Rs 900 crore from Rs 309 crore at the beginning of 2005. Newly-listed ABG Shipyard has gained 40 percent since its listing in December last year to Rs 1,900 crore. State-owned Cochin Shipyard is also doing well, with 20 ships having been ordered -- 19 of these are foreign orders. Cochin Shipyard had taken a policy decision to concentrate on the overseas business. Even in the case of the other two, overseas orders make major contribution to its business. Oil and gas companies around the world have reported bumper profits. Some are ploughed back to search for more oil. MNC oil majors such as Exxon, BP and Shell have registered record high profits for 2005, largely on account of the continuing strength in crude oil prices. US oil major Exxon recorded a net profit of $36 billion for 2005, while Shell and BP clocked profits of $23 billion and $19 billion, respectively. High crude oil prices have also resulted in increasing expenditure on E&P and equipment suppliers. Higher profits for oil companies are translating into more investments in oil E&P, much of it offshore. (Source: www.tmcnet.com)
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

ERMA Bullish on Ballast Water Treatment

After having delivered several BWTS systems in Kita Nihon shipyard in Japan, one more ERMA FIRST BWTS was successfully installed onboard the Bulk Carrier M/V SCARABÉ(DWT: 60,

USS Freedom (LCS 1) Completes Rough Water Trials

The littoral combat ship USS Freedom (LCS 1) completed Seakeeping and Structural Loads Trials, commonly referred to as Rough Water Trials (RWT) in late March the Navy reported May 21.

Conrad Announces Management Team Changes

Conrad Industries, Inc. announced the appointment of Scott J. Theriot as Executive Vice President and Chief Operating Officer.   Johnny Conrad, President and Chief Executive Officer,

Navy

DMW Marine Takes the Lead in Military Cranes

DMW Marine Group, LLC. has completed a number of projects for the U.S. Navy and foreign Navies in recent years, claiming a place as a go-to supplier for Navy departments globally.

Myanmar Finds 200 Bangladeshis in Offshore Boat

Myanmar's navy found a boat carrying more than 200 Bangladeshis, the government said on Friday, after the military chief said some migrants landing in Malaysia

HMAS Anzac Visits Portsmouth, UK

The Royal Australian Navy’s helicopter frigate HMAS Anzac has arrived in Portsmouth, England, as part of her NORTHERN TRIDENT 2015 deployment.   Anzac departed Sydney in March 2015,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1632 sec (6 req/sec)