SBM Offshore Could Benefit from Offshore Wind, Says BAC Report
With SBM Offshore’s strong marine and offshore experience and skills base, the Group is well-suited to answer the expanding supply/demand imbalance for offshore wind farm installations. Sites are moving away from coast as the volumes of projects increase. Nowadays, wind energy is mostly used for electricity generation. Wind is a source of energy because it blows as long as the sun shines.
First commercial wind turbines were manufactured by Danish producers; they were small and had low capacity (20 to 30 kW). But recently they have increased greatly in size and power; wind turbines have become popular in many countries across the world.
Without hills, mountains and various buildings, offshore wind turbines offshore ensure no interruption in wind supply. Moreover, offshore wind blows more stable and foreseeable comparing to land. Wind power stations’ sea installations are becoming more and more popular and important. Offshore wind power supply is to grow from 1276 Mega Watt in 2008 to 18769 Mega Watt in 2015. SMB Offshore has a bright opportunity to cash this opportunity to the full with its Wind Turbine Installation Platform.
The Company showed a significant recovery in 2010 after the slow down during the recession: its turnover went up by 3.5% to $ 3,056 million, its net profit increased by 8.5% to $ 276 million. Recent financial results show a decline in interim trends: in June 30 2011 both revenues and net income fell by 13% and 263% to $ 1460.8 million and $ (265.3) million respectively.
Incorporated in 1969 and headquartered in Schiedam, SBM Offshore N.V. the firth Dutch company to engage in oil and gas energy industry. It has representatives in 15 countries of the world, dealing with engineering, supply, and offshore terminals installation, and an offshore fleet. Company’s operating segments are: Turnkey Supply, Lease and Operate, Design & Engineering, Equipment Supply, Technology Development, and Services.
Source: Market Publishers, August 24, 2011