Indian Shipbuilders See Profits

Monday, February 13, 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. A major chunk of these orders is for offshore supply vessels and other such ships used by the oil & gas industry. 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% 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 ‘05, largely on account of the continuing strength in crude oil prices. (Source: Economic Times)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Newport News Lays Keel for Virginia-Class Sub

Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII), hosted a keel-laying ceremony Saturday for the future USS Washington (SSN 787), a

 
 
Maritime Security Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1784 sec (6 req/sec)