Swiber profits double, eyes offshore services opportunities

Singapore: Net profits for offshore services provider Swiber Holdings nearly doubled in the third quarter as it eyes new opportunities. Singapore-listed Swiber reported a third quarter net profit of $15.9m up 98.4% on the same period last year. Revenues for the quarter were up 12.5% at $137.7m.

“Together with an expanded fleet of vessels, experienced management team and strong track record, we are well positioned to prudently seize fresh opportunities that will arise in the buoyant offshore exploration and development market,” said Francis Wong, ceo and president of Swiber.

Story from www.seatrade-asia.com.

  1. "Asia continues to be a driving force in offshore oil and gas - be it through demand, construction of vessels, finance or production. The region will, to a large degree, probably determine the future direction of the sector." Per M. Ristvedt, Managing Partner - Wikborg Rein Singapore

    “Offshore craft supporting the oil and gas sector in general will continue to see an increase in employment as energy needs in the region grow. Crew retention and competency will be just one of a number of challenges facing the OSV’s industry." Steven Randall, General Manager, Shipowners Club Singapore branch


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