Business Times - 29 May 2008
Rising oil price boosts offshore marine sector
(Excerpt)
Soaring fuel price will benefit not just the big boys such as Keppel Corp and Sembcorp Marine, who have seen a surge in rig orders, but also many smaller suppliers and service providers of the offshore and marine exploration industry.
Market watchers say companies which will increasingly benefit from the high oil price environment include players such as offshore vessels specialists Swissco and Ezra; oilfield equipment services specialists Swiber and Ausgroup; exploration specialists such as China Oilfield Technology and even oil storage and distribution terminals builder Rotary Engineering.....
......Many investment houses, including Credit Suisse, see little relief from high oil prices on the horizon.
That being the case, companies playing the supporting cast in the rush for 'black gold' look set to ride an up-cycle for a while yet.
A combination of oil markets speculative activity, demand surge and supply crunch has seen oil price double from a year ago to new records at over US$130 pbl. This has spurred more intensive exploration activity globally, especially into more challenging offshore reserves which were previously considered unprofitable to tap.
Rising oil price boosts offshore marine sector
(Excerpt)
Soaring fuel price will benefit not just the big boys such as Keppel Corp and Sembcorp Marine, who have seen a surge in rig orders, but also many smaller suppliers and service providers of the offshore and marine exploration industry.
Market watchers say companies which will increasingly benefit from the high oil price environment include players such as offshore vessels specialists Swissco and Ezra; oilfield equipment services specialists Swiber and Ausgroup; exploration specialists such as China Oilfield Technology and even oil storage and distribution terminals builder Rotary Engineering.....
......Many investment houses, including Credit Suisse, see little relief from high oil prices on the horizon.
That being the case, companies playing the supporting cast in the rush for 'black gold' look set to ride an up-cycle for a while yet.
A combination of oil markets speculative activity, demand surge and supply crunch has seen oil price double from a year ago to new records at over US$130 pbl. This has spurred more intensive exploration activity globally, especially into more challenging offshore reserves which were previously considered unprofitable to tap.
