Swiber Reports Profitable First Half 2013

Wednesday, August 14, 2013
Swiber logo

Singapore's Swiber Holdings construction & support services providers to the offshore oil and gas industry, reported that net profit in the half year ended June 30, 2013 rose 11.8% to US$37.4 million from US$33.5 million in the half year ended June 30, 2012.

Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, “The first half of this year has seen Swiber making strides in several ways. Notably, Swiber won several quality projects amounting to US$570 million to-date. Our recently issued S$150 million 6.5% fixed rate certificates under a newly established sukuk programme was met with warm investor response; a strong endorsement of our good financial standing. This will provide us with headroom for further expansion and growth."

Growth Strategies & Outlook
Commented Mr. Francis Wong, “Analysts have forecast international exploration and production spending levels expected to reach a record US$678 billion by end 2013. This augurs well for Swiber’s wide range of offshore EPIC and marine support services across the Asia Pacific, Middle East, and Latin America regions."

“Hence, there is a strong basis to remain optimistic about the prospects for the offshore oil and gas industry. The Group has built up its resources and a sizeable fleet in recent years. Now, our focus is to bid selectively and sharply to win large new contracts from major oil and gas players in the markets where we have a presence in, and also penetrate into new markets.”

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

People & Company News

USCG Search for Missing Crew of El Faro

Coast Guard search and rescue crews continue searching for possible survivors from the cargo ship El Faro Monday night, covering a total search area of more than 160,574 square nautical miles.

Northern Fleet to Conduct Anti-terrorist Exercises

The sailors of the Northern Fleet will conduct anti-terrorism exercises at Novaya Zemlya. During the exercise, the coast will be a landing. The landing will

ADF’s New Amphibious Capability Demonstrated

Australia’s newest military capability, the Amphibious Ready Element, has demonstrated its capacity in waters off the North Queensland coast during the Sea Series of exercises.


Rolls-Royce to Cut More Staff of Marine Unit

Britain's Rolls-Royce said it would cut an additional 400 staff from its marine business by the end of next year, its latest move to make the unit more efficient

Wärtsilä Debuts Package for hydropower & industrial plant

Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals,

Smith Taken on Rolls-Royce Holdings Board

Rolls-Royce Holdings plc today announces the appointment of Sir Kevin Smith CBE as a Non-Executive Director.  Sir Kevin will join the Board with effect from

Offshore Energy

MacGregor's Deck Machinery for Sentinel Marine ERRV

MacGregor, part of Cargotec, will supply deck machinery for a new 65m emergency rescue & response vessel (ERRV) for Sentinel Marine. The ship has been designed

Finland Scraps LNG Terminal Plan

Finnish gas utility Gasum has abandoned its plans to build the Finngulf liquefied natural gas  (LNG) import terminal in Finland with an offshore pipeline connection

Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

Underwater Engineering

KEP Marine Releases Video Recording Products

KEP Marine releases today the innovative network video recording system and new HD cameras. The plug-and-play KVNR-8001 network video recording system is

Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

Tuco Debuts New Dive and ROV Support Boats

Denmark’s Tuco Marine has revealed its new dive support and ROV Support boat designs. The two new vessels complement the designer’s range of ProZero workboats and

Maritime Contracts Maritime Security Naval Architecture Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators 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: 0.3110 sec (3 req/sec)