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

Shipbuilding

G E Shipping delivers “Jag Aakash” to Buyers

The Great Eastern Shipping Company Ltd. delivered the new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt) to the buyers.  The vessel was contracted for sale in August 2015.

Hanjin Rolls Out First Philippine-made LPG carrier

Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), which operates the world's fourth shipbuilding facility in Subic Freeport Zone, unveiled the

Edelweiss Now Controls Bharati Shipyard

Edelweiss Asset Reconstruction Company has taken over management control of Bharati Shipyard, says a report in ET.   Edelweiss now controls 70% of the Indian yard’s debts.

Navy

Taiwan Eyes Budget for New Submarines

Taiwan’s defense ministry seeks financing to expand the country’s submarine fleet, reports Reuters quoting local media reports.   The government has allocated $92.

Chinese Ships Spotted off Alaska

Five Chinese Navy ships are sailing in international waters in the Bering Sea off Alaska coast, coinciding with President Barack Obama’s visit to the the U.S. state.

USN's Fourth MUOS Satellite Launched

After a two-day delay due to tropical storm conditions, the Navy's fourth Mobile User Objective System (MUOS) satellite launched at 6:18 a.m. EDT from Space Launch Complex 41.

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.4708 sec (2 req/sec)