Offshore Support Vessel Shipyard Flourishes

Sgmarine Industries
Tuesday, June 26, 2012

Norway-based shipbuilders, STX Holdings, outperform the FTSE Straits Times Oil & Gas Index

The offshore support-vessels builder has outperformed the FTSE Straits Times Oil and Gas Index, of which it is a component, making year-to-date returns of 38.8 per cent compared with the index's 16.8 per cent, reports 'Sgmarine Industries'.

First and foremost, STX is in the right place at the right time, with the conventional shipbuilding sector having taken a hammering because new ships are no longer being ordered.

STX OSV, however, has been incredibly blessed with orders. Vessels built by STX OSV are tied to the oil-and-gas industry, which is in the midst of expanding into deeper-water exploration as shallow water or land sources of energy dry up.

STX OSV builds the very kind of more complex and advanced vessels needed for these offshore drilling activities - of which there are, compared to other classes of merchant vessels, relatively few in the world today. This sets the scene for what we have seen for STX OSV, particularly in 2011 and 2012. It has under its belt about 6.7-6.9 billion krone (S$1.43- 1.47 billion) worth of orders so far this year, surpassing analysts' initial expectations.
 

 

Maritime Today


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

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Australian Navy Commissions HMAS Adelaide

Royal Australian Navy commissions second LHD HMAS Adelaide powered by GE LM2500 marine gas turbines   GE Marine reports that its LM2500 gas turbines now power

Fincantieri Launches Majestic Princess for China

Italian shipbuilder Fincantieri has launched its first cruise ship destined for the Chinese market, and will now begin interior fittings ahead of the vessel’s delivery scheduled for spring 2017.

New Offshore Vessel to be Fitted with Cathelco BWTS

Cathelco is supplying a ballast water treatment (BWT) system for a new offshore vessel built by Eastern Shipbuilding Group Inc., for Harvey Gulf International Marine, LLC.

News

US Warship Rescues Mariners in Distress

Nimitz-class aircraft carrier USS Dwight D. Eisenhower (CVN 69) (Ike) came to the rescue of distressed mariners at sea, February 7.   Ike received a distress

Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.

SevenCs Supports MariGreen Project

SevenCs is part of the EU INTERREG V A cross-border project “MariGreen” to support the maritime industry in the transition towards more efficient, greener and more sustainable shipping.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Repair 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: 0.0895 sec (11 req/sec)