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Marine Finance Shipping outperforming offshore on OSE Higher oil prices have helped the Oslo Stock Exchange's shipping index, which features maritime and offshore shares, to rise by 33.7 percent so far this year - out- performing the exchange's other index- es. Share prices of offshore shares have decreased for two months now, resisting the influence of continued buoyant oil prices. The value of shares on the Main List dropped 5.6 percent in September and 13.6 percent in October. The 19.6 percent price fall recorded by the seis- mic company Petroleum Geo-Services (PGS), the biggest offshore company on the Exchange, was the main contributor. The SMB-listed offshore company Ocean Rig (OCR) tops the losers list for the second month running, having sliced almost 30 percent off its share price in October. Big players such as Fred. Olsen Energy (FOE), ProSafe (PRS), Stolt Comex Seaway (SCS), Det S0n- denfjeldske (SFJ) and TGS Nopec (TGS) all fell between 10 percent and 20 percent during the month. Only three offshore companies increased their value: Polar Holding (POL) rose almost 11 percent following merger talks with District Offshore (DOF), topping the winners list. Ugland Nordic Shipping (UNS) and Nortrans Offshore (NOL) also experienced gains in October. The cruise company Royal Caribbean Cruises (RCCL) rose 17.7 percent in October holding the fall in the shipping index to 2.2 percent. Actinor Shipping (ACS) rose 23.3 percent, while the Swedish shipping company Atlantic Container Line (ACL) moved up 9.5 percent. NCL Holding (NCL) moved the opposite direction to its competitor RCCL with a share price drop of 11.6 percent in October, continuing the nega- tive trend from the previous month. Among the shipping companies Benor Tankers (BET) performed the worst with a fall of 16 percent, while Belships (BEL) dropped 10.9 percent. 1 1 , .. Winners in October i i i • i 1— — Losers in October i Shipping List Change Shipping List Change Actinor Shipping Main + 23.3% Benor Tankers Main -16.0% Royal Caribbean Cruises Main + 17.7% NCL Holding Main -11.6% First Olsen Tankers Main + 10.0% Belships Co. Main -10.9% Atlantic Container Line Main + 9.5% Nomadic Shipping Main - 9.4% Wilh. Wilhelmsen B Main + 8.1% Odfjell A Main - 9,1% Offshore List Change Offshore List Change Polar Holding SMB + 10.8% Ocean Rig SMB - 29.6% Ugland Nordic Sh. Main + 9.2% Havila Supply SMB - 22.9% Nortrans Offshore SMB + 8.7% Fred. Olsen Energy Main - 20.5% Stolt Comex Seaway Main -1.1% Petroleum Geo-Serv. Main -19.6% Brevig Offshore SMB - 2.0% ProSafe Main -12.7% investment Turn next valve purchase into an W&O Supply's product portfolio includes ANSI spec, DIN or JIS metric, and U.S. MIL-SPEC. We offer material in steel, nodular iron, cast iron, bronze, stainless steel, copper nickel, and monel. Our on-hand inventory of materials- meeting ABS, Lloyd's, DNV, BV, GL, and other Classification Society standards-help ensure that the products we supply satisfy the unique requirements of the maritime industry. Charleston, SC Fort Lauderdale, FL Houston, TX Jacksonville, FL Linden, NJ Long Beach, CA Mobile, AL New Orleans, LA Norfolk, VA San Diego, CA San Francisco, CA Seattle, WA Tampa, FL Vancouver, BC, Canada Antwerpen, Belgium Engineers and purchasing agents for shipyards, ship owners, cruise lines, and the military have relied on W&O Supply for over 30 years to meet their needs and their budgets for high-value, leading-edge piping, valves, fittings, flanges, tubing, metrics, and metals. Whether you need commodity or engineered products, W&O products save money by reducing weight, installation & production time, and maintenance costs. 3485 Evergreen Avenue Jacksonville, FL 32206 USA +1 904.354.3800 +1 904.354.5321 Fax +1 800.962.9696 In the U.S. www.wosupply.com 8 Circle 280 on Reader Service Card Maritime Reporter/Engineering News
