We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Saipem (SAPMF) Expands Fleet With New JSD6000 Heavy Lift Vessel
Read MoreHide Full Article
Saipem SpA (SAPMF - Free Report) , an offshore oilfield services company, is set to receive the latest generation heavy lift and pipelay vessel, JSD6000, in June. The completion ceremony of the vessel was hosted by ZPMC, the Chinese state-owned port and naval machinery manufacturer, at its base in Changxing.
The JSD6000 is a 216-meter-long ship equipped with advanced technology, including a DP3 dynamic positioning system. It boasts a heavy-lift capacity of up to 5,200 tons and is capable of laying pipelines up to 36 inches in diameter in J-Lay mode and up to 60 inches in S-Lay mode at depths of up to 3,000 meters. Designed by Ulstein, the vessel meets the highest standards of safety and environmental protection.
Saipem has signed a contract for the bareboat charter of the JSD6000 for a duration of five years, with options to extend for another two years. This charter aligns with Saipem's capital-light strategy outlined in its Strategic Plan, allowing the company to expand its operational capabilities with an advanced vessel.
The journey of the JSD6000 began in January 2014, when Sharjah-based Petrofac ordered the deepwater derrick lay vessel from ZPMC. However, the construction contract was terminated by Petrofac in October 2015. Subsequently, in April 2018, Petrofac sold the vessel project to ZPMC.
The JSD6000 was launched at the ZPMC Qidong shipyard in December 2020. Following a series of sea trials and testing of mission and pipe lay equipment, the vessel returned to the ZPMC Changxing Base in December 2023, marking its readiness for operational deployment.
The addition of the JSD6000 to Saipem's fleet represents a significant improvement in the company's ability to undertake complex offshore projects. This move is in line with Saipem's strategy to leverage high-specification vessels to meet increasing industry demands while maintaining a focus on safety and environmental sustainability.
With the receipt of JSD6000, Saipem is poised to strengthen its position in the offshore construction and pipelaying market, offering expanded capabilities to its clients worldwide.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
The Zacks Consensus Estimate for AROC’s 2024 EPS is pegged at $1.07. The company has a Zacks Style Score of A for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
SM Energy is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company’s attractive oil and gas investments should create long-term value for shareholders.
The Zacks Consensus Estimate for SM’s 2024 EPS is pegged at $6.63. The company has a Zacks Style Score of B for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $5.15 and $4.48, respectively. The partnership has witnessed upward earnings estimate revisions for 2025 in the past seven days.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Saipem (SAPMF) Expands Fleet With New JSD6000 Heavy Lift Vessel
Saipem SpA (SAPMF - Free Report) , an offshore oilfield services company, is set to receive the latest generation heavy lift and pipelay vessel, JSD6000, in June. The completion ceremony of the vessel was hosted by ZPMC, the Chinese state-owned port and naval machinery manufacturer, at its base in Changxing.
The JSD6000 is a 216-meter-long ship equipped with advanced technology, including a DP3 dynamic positioning system. It boasts a heavy-lift capacity of up to 5,200 tons and is capable of laying pipelines up to 36 inches in diameter in J-Lay mode and up to 60 inches in S-Lay mode at depths of up to 3,000 meters. Designed by Ulstein, the vessel meets the highest standards of safety and environmental protection.
Saipem has signed a contract for the bareboat charter of the JSD6000 for a duration of five years, with options to extend for another two years. This charter aligns with Saipem's capital-light strategy outlined in its Strategic Plan, allowing the company to expand its operational capabilities with an advanced vessel.
The journey of the JSD6000 began in January 2014, when Sharjah-based Petrofac ordered the deepwater derrick lay vessel from ZPMC. However, the construction contract was terminated by Petrofac in October 2015. Subsequently, in April 2018, Petrofac sold the vessel project to ZPMC.
The JSD6000 was launched at the ZPMC Qidong shipyard in December 2020. Following a series of sea trials and testing of mission and pipe lay equipment, the vessel returned to the ZPMC Changxing Base in December 2023, marking its readiness for operational deployment.
The addition of the JSD6000 to Saipem's fleet represents a significant improvement in the company's ability to undertake complex offshore projects. This move is in line with Saipem's strategy to leverage high-specification vessels to meet increasing industry demands while maintaining a focus on safety and environmental sustainability.
With the receipt of JSD6000, Saipem is poised to strengthen its position in the offshore construction and pipelaying market, offering expanded capabilities to its clients worldwide.
Zacks Rank and Other Key Picks
Currently, SAPMF carries a Zacks Rank #2 (Buy).
Some other top-ranked players in the energy sector are Archrock Inc. (MPC - Free Report) , SM Energy Company (SM - Free Report) and Sunoco LP (SUN - Free Report) . While Archrockand SM Energy currently sport a Zacks Rank #1 (Strong Buy) each, Sunoco carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
The Zacks Consensus Estimate for AROC’s 2024 EPS is pegged at $1.07. The company has a Zacks Style Score of A for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
SM Energy is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company’s attractive oil and gas investments should create long-term value for shareholders.
The Zacks Consensus Estimate for SM’s 2024 EPS is pegged at $6.63. The company has a Zacks Style Score of B for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $5.15 and $4.48, respectively. The partnership has witnessed upward earnings estimate revisions for 2025 in the past seven days.