Offshore staff
SINGAPORE -- ASL Marine Holdings Ltd. says Singapore's marine industry is expected to remain positive. Contributors to this prognosis are buoyant offshore oil and gas exploration and production activities, booming infrastructure development in the Middle East, increasing numbers of domestic infrastructure construction projects, and new demand and renewal of aging offshore support vessels by offshore operators.
Based on the generally positive business environment, ASL's order book for shipbuilding was approximately $249.34 million to build 40 vessels, including offshore support vessels, tugs, barges, and tankers, as of Dec. 31, 2006. Approximately 33% of these projects are expected to be recognized within the six months ending June 30, 2007.
The group has continued to expand and renew its fleet with the acquisition of more vessels, increasing the fleet from 115 at the end of 2005 to 146 at the end of last year.
The Group's new shipyard at Guangdong, China, is expected to begin operations in 1Q 2007.
ASL says for the six months ending Dec. 31, 2006, its revenue increased by 48.7% over the previous year.
2/9/2007
