12 Jun 07 Bharati Shipyard gets new orders for 2 new ships

Bharati Shipyard, one of India’s leading ship building companies, has informed the stock exchanges that it has received a new order from a Norwegian firm for supplying two anchor handling tugs for support to the offshore rigs. Tugs are those ships (vessels) which are used to pull/drag oil drilling offshore rigs (like ONGC’S bombay high). Bharati Shipyard recently received an order from Great Offshore for a multipurpose offshore support vessel. With this new order, Bharati Shipyard has a bulging order book of 41 ships or Rs. 3725 crores. I like companies with huge order books since it gives good earnings visibility. Bharati Shipyard looks good both in terms of valuations and also in terms of its huge order book size. Bharati Shipyard thus enters the list of stocks I track.

06 Jun 07 Mercator Lines wins new contract from Indian Oil

Leading shipping company, Mercator Lines has informed the stock exchanges that it has won a new order worth Rs. 200 crores from Indian Oil Corportaion (IOC). Mercator Lines will transport crude oil for Indian Oil corporation through the crude carriers that Mercator Lines possesses. Its ironical that IOC, which is a PSU, hasn’t awarded the crude transportation contract to shipping corporation of India (SCI) which is a PSU and the market leader in the shipping sector.