Craig Group Predicts Strong 2013 Growth

Press Release
Wednesday, November 14, 2012
Douglas Craig: Photo credit Craig Group

Aberdeen (Scotland) based global shipping and energy services firm, Craig Group, has announced healthy results for the year ending April 2012.

The privately owned, family-run business has reported turnover of £123.3 million with operating profits of £14.8 million.
 
This is an increase on their 2011 turnover of £11.4 million and a £1.7 million increase on operating profit from the same time period. EBITDA has risen from £19.1million in 2011 to £21.3millionin 2012.
 
The group, whose core activities are the provision of offshore support, ROV survey, emergency response and rescue vessels (ERRVs) and oilfield procurement, provides employment for around 1,000 people.
 
Craig Group managing director, Douglas Craig, said:

“"We are pleased to report healthy results across all three divisions for 2011/2012. The UK oil and gas sector continues to flourish in what is still very much a fragile economic period and as a result we have been able to invest in vessels, people, premises and services.”"
 
Capital expenditure in the year of £28.4 million was mainly invested in the continued modernisation of the fleet which is the largest British wholly-owned fleet engaged in the UK offshore industry.
 
“The total investment of £215million in new vessels since 2003 has given us one of the safest and most modern fleets operating in the North Sea which has helped us secure new business, attract the best maritime skills, improve safety and reduce our impact on the environment.
 
The fleet is operated by group division, North Star Shipping, who saw its turnover increase by 9.7% to £80.3 million. Four new vessels were completed during the calendar year in 2012 creating 100 jobs in the marine industry.
 
Turnover at Craig International Supplies (CIS), the group’s oilfield procurement division, also rose by 10.3% from £34.1 million to £37.6 million.
 
Mr Craig added, “We are particularly excited by the potential of CIS’ global strategy, which will see the procurement division moving into new markets including West Africa, Central Europe and Australia over the next year."
 
The group continued to pursue its corporate social responsibility strategy with donations to charities and other causes totalling £375,000 in 2012.
 

Maritime Today


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

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

People & Company News

SENER Presents Two FORAN Papers at the Morintekh

In June, the SENER engineering and technology group participated in the 17th Morintekh – Praktik 2016 Scientific Conference, in the city of St. Petersburg, Russia.

Ship of the Year Award for NYK Vessel

Japan's first LNG-fueled ship, Sakigake, which is a tugboat owned by NYK has been recognized with a Technology Special Award at the 2015 Ship of the Year Awards

IRClass First to Certify Indian Recycling Yards per EU Standard

IRClass is amongst the first organizations in the world to certify ship recycling yards according to EU standards as an ‘Independent Verifier’. IRClass Systems and Solutions Pvt.

Offshore

Migrants Survivors Tell of Struggle at Sea

The bodies of 21 women and one man were brought ashore to Sicily on Friday as fellow migrants described scenes of panic and violence when water poured into their dinghy.

Three Keppel Dredgers for Jan De Nul

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to

Seacat Services Sends Freedom to Race Bank

Seacat Freedom, the latest addition to Seacat Services’ 12-strong fleet, has been dispatched to DONG Energy’s Race Bank offshore wind project following the boat’s

Finance

Asia-N.Europe Box Rates Fall 8.1 pct

Freight rates for transporting containers from ports in Asia to Northern Europe fell 8.1 percent to $713 per 20-foot container (TEU) in the week ended on Friday,

Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including

G6 Updates Asia-North America West Coast Service

Two services will be merged into one until further notice / Reason is change in market demand / All other services remain unchanged. Members of the G6 Alliance

People in the News

Ship of the Year Award for NYK Vessel

Japan's first LNG-fueled ship, Sakigake, which is a tugboat owned by NYK has been recognized with a Technology Special Award at the 2015 Ship of the Year Awards

IRClass First to Certify Indian Recycling Yards per EU Standard

IRClass is amongst the first organizations in the world to certify ship recycling yards according to EU standards as an ‘Independent Verifier’. IRClass Systems and Solutions Pvt.

Great Lakes Dredging Awards Announced

Great Lakes Dredge & Dock Corporation announced that it was recently awarded four contracts with an approximate value of $93 million. Great Lakes received two

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics 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: 0.1565 sec (6 req/sec)