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

Shipbuilding

Reps. Byrne and Palazzo Visit Ingalls Shipbuilding

Reps. Bradley Byrne, R-Ala., and Steven Palazzo, R-Miss., visited Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division Wednesday. The congressmen,

Damen Opens JV Yard in Vietnam

On March 20, 2014, Vietnamese Minister of Transport Nguyen Hong Truong, cut the ribbon for the latest addition to Damen Shipyard Group’s portfolio. Damen Song Cam is a new yard,

HHI to Deploy 3DEXPERIENCE Design Platform

Hyundai Heavy Industries Selects Marine & Offshore Industry Solution Experiences for Design and Engineering of Offshore Structures Dassault Systèmes, the 3DEXPERIENCE Company,

News

Port Launches Emergency Landing Craft

Port of Long Beach officials welcomed a new addition to their small fleet of boats this week with the delivery of a refurbished and retrofitted landing craft that

Reps. Byrne and Palazzo Visit Ingalls Shipbuilding

Reps. Bradley Byrne, R-Ala., and Steven Palazzo, R-Miss., visited Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division Wednesday. The congressmen,

19th Century Shipwreck Found off Golden Gate Bridge

NOAA announced it has found the underwater wreck of the passenger steamer City of Chester, which sank in 1888 in a collision in dense fog near where the Golden Gate Bridge stands today.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage 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: 0.1139 sec (9 req/sec)