Oil & Gas Sector Growth to Continue to 2012

Friday, May 12, 2006
Record high oil prices have sent the shares of companies in the offshore and marine sectors rallying up an average of 16.5 percent year-to-date. But analysts spoke to say there is still upside potential, citing factors like strong demand for offshore rigs, which may result in the order books of key beneficiaries like Keppel and SembCorp pushing out to 2012 and beyond. The Singapore stock market may have repeatedly tested new highs in recent weeks, but oil and gas related stocks have done even better, ChannelNews Asia reported. SembCorp Industries, for instance, has outperformed the benchmark Straits Times Index by some 8 percent and Keppel Corp by an even higher 25 percent. Keppel is more exposed to the marine industry, which accounts for about 70 percent of its total earnings. Oil and gas contributes 30 to 35 percent of SembCorp's profits. But some analysts see more upside largely because of the positive outlook for rigs, and floating production, storage and offloading (FPSO) vessels. And the demand for rigs continues unabated. Both Keppel and SembCorp have orders for 50 jack-up rigs and 15 semi-submersibles cumulatively, stretching their order books till 2009. Analysts say another 100-odd new rigs are needed in the next few years, potentially pushing their order books to 2012 and beyond. (Source: ChannelNews Asia)
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

New Chemical Handling Service from Ferguson Group

Tank, Fluid Solutions and Bunded Storage for Dangerous Goods and Chemicals Introduced at Gap Ridge, Karratha.    Ferguson Group Australia, global specialist in offshore DNV 2.

InterMoor Completes Juniper Mooring Installation Contract

InterMoor has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago, reportedly the largest foundation

Boost for Offshore Wind Energy

As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, Secretary of the Interior

Ship Sales

Taiwan Naval Fleet Adds Home-Grown Vessel

Taiwanese Navy formally took delivery Friday of a new locally designed supply vessel that it said will help enhance Taiwan's maritime combat capabilities.   In

Indian Shipping Ministry Seeks Tax Sops

India's shipping ministry is asking for a tax holiday and more incentives for the shipbuilding industry in the upcoming Union budget, according to a report in the Economic Times.

Vroon Adds Twelfth Tanker

Dutch ship owner Vroon has confirmed the purchase of the MT ST Charlotte, a 2006-built bitumen/molten sulphur tanker. The vessel will be renamed Iver Ability and

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Winch
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: 0.1491 sec (7 req/sec)