Oman-owned Dutch Megayacht Shipyard Set for Expansion
Oman's MB Holding Company, set to expand its newly aquired Oceanco. Rotterdam, shipyard facility. MB Holding Company, one of the largest oilfield services firms in the Middle East, has acquired Oceanco, a specialist in building luxury superyachts since 2010, and plans its massive expansion, reports the Times of Oman. The MB Group Chairman, Mohammed Al Barwani, pointed out to the Mayor of Rotterdam who was on a short visit to Oman, that some of the top businessmen in the world had bought superyachts from the shipyard, whose market tended to be to the Arab world, Asia, India, USA and Europe. Oceanco currently employs about two-hundred workers, but it is intended to double that number, having in the past year sold five superyachts with a total value of between €750 to €800 million.
Hercules Offshore Q1 2010 Results
Hercules Offshore, Inc. (NASDAQ:HERO) reported a loss from continuing operations of $16.0 million, or $0.14 per diluted share, on revenues of $150.8 million for the first quarter 2010, compared with a loss from continuing operations of $4.5 million, or $0.05 per diluted share, on revenues of $223.5 million for the first quarter 2009. John T. Rynd, Chief Executive Officer and President of Hercules Offshore stated, "While our financial results remain depressed following the industry-wide downturn that began in 2008, drilling activity in the U.S. Gulf of Mexico has increased meaningfully over the past two quarters, and bidding activity has remained fairly steady despite the recent pressure on natural gas prices.
