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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Arctic Oil: Bourbon to Enter Arctic Market in 2016

Bourbon plans to enter the growing Arctic Offshore market in 2016 with a new Anchor Handling Tug Supply (AHTS) vessel built by the Vard shipyard. This AHTS (Anchor

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

Wärtsilä Propulsion Equipment for 2 Fishing Vessels

Two new 78 metre purser/trawler fishing vessels being designed and built at Karstensen Shipyard in Denmark will feature Wärtsilä's main propulsion and control equipment.

Navy

Libyan Government: Ports, Oil Fields Safe

Libyan oil ports and fields are safe and under government control, the country's interior minister said on Friday after visting the eastern Brega port. "This

Keel Laid, Fabrication Started on 2 Navy Warships

This week, General Dynamics Bath Iron Works celebrated two milestone events for the Arleigh Burke-class program. On October 30, Bath Iron Works held a keel laying

Partnerships Key to Caribbean Maritime Security

Planning and execution of port and maritime safety and security in Caribbean region is all about partnerships Maritime security and safety experts are meeting in Nassau,

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1134 sec (9 req/sec)