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 Today

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

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Sandra Weakens to Tropical Storm off Mexico's Coast

Hurricane Sandra weakened to a tropical storm on Friday and was expected to continue losing strength as it approached Mexico's Pacific coast, the U.S. National Hurricane Center (NHC) said.

Extended Warranty from Yanmar for Sailboat Engines

Yanmar Marine International B.V. has introduced an extended 3 years’ period of YANMAR Limited Warranty for Sailboat Engine Models. This extended warranty of

Fugro's Havila Harmony to join MH370 Search

Fugro is providing an additional vessel, the Havila Harmony, to join the search for the missing flight MH370 in the southern Indian Ocean. From the 93-metre multi-role vessel,

Ship Sales

Euroseas Sells C/V Marinos

Euroseas Ltd.  an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes,

Evergreen Line Orders Ten 2,800 teu Ships

Taiwanese shipping company Evergreen is ordering ten 2,800 TEU container ships from Japanese shipbuilder Imabari Shipbuilding Co.,Ltd and compatriot CSBC Corporation.

Scripps Sells Oceanographic Research Vessel

Purpose-built oceanographic research and survey vessel New Horizon has been sold from the Scripps Institute of Oceanography to private interests, announced ship broker Marcon International, Inc.

Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.0726 sec (14 req/sec)