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

Offshore

Ex-BP Employee Settles Insider-trading Oil Spill Case

A former 20-year veteran of BP plc who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges

Offshore Service Vessels Design Innovation

It could be argued that no other sector of the maritime market has experienced a design innovation revolution quite like the Offshore Service Vessel (OSV) market.

Offshore: Seacor Raises the Bar Again

Long acknowledged as a firm to watch in U.S. crewboat and fast supply boat innovation, Seacor Marine will be attracting industry attention once again when its latest

Ship Sales

Kvichak-built Hovercraft for Sale

The 95’ BHT-150 hovercraft SUNAX, built by Kvichak Marine Industries and owned and operated by Aleutians East Borough, is for sale through public competitive bid.

Litigation Can Cost Shipbrokers an Arm & a Leg

A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts,

Scorpio Tankers' Latest Sale & Purchase Deals

Scorpio Tankers says it recorded a gain of US$51-million from the sale of the 7 VLCC newbuilding contracts announced earlier. In March 2014, the Company received

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators 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: 0.1226 sec (8 req/sec)