E&P spending boosts Indian shipbuilders' orders

Indian shipbuilders report increased orders as the result of the boost in offshore E&P spending.

(Asia-Pacific) - Indian shipbuilders report increased orders as the result of the boost in offshore E&P spending.

ABG Shipyard has an order backlog of $294.5 million, while Bharati Shipyard has pending orders worth $153.1 million on its books.

The majority of these orders is for offshore supply vessels and other such ships used by the oil & gas industry.

State-owned Cochin Shipyard is also reportedly doing well, with 20 ships having been ordered, 19 of which are foreign orders.

02/14/06

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