Last Thursday and Friday saw Ocean Wilsons rise 25 to 225 on massive volume.Brazilian exports are booming and with the company operating ports and tug boats these should either get a re-rating or a bid.

Bermuda based investment company Ocean Wilsons saw pre-tax profits float higher in 2009, though the company acknowledged that 'policy settings could not have been more supportive' for investors in 2009. While revenue in 2009 dipped to $477.9m from $498.3m the year before, profit before tax surged to $139.8m from $31.6m in 2008. The company, which has a 58.3% stake in Wilson Sons, a provider of maritime services in Brazil, attributed the decline in revenue mainly to a fall in shipyard and logistics revenue. Volumes at the Brazilian bonus picked up in the second half of the year, the company said. The group's investment portfolio saw a $34.3m uplift in 2009, in sharp contrast to the loss of $59.5m suffered in 2008. Exchange gains of $23.7m also contrasted with foreign currency losses of $23.6m the year before. 'The group delivered another excellent result in 2009 and we fully expect 2010 to be another solid year,' said Dr. Jose Francisco Gouvea Vieira, chairman of the group. 'The Brazilian economy remains relatively strong with forecasts predicting over 5% growth in 2010 and the fast expanding Brazilian offshore oil industry continues to offer opportunities for the Group through our offshore vessel business and Brasco which provides support services to the oil and gas industry,' Dr. Gouvea Vieira added.

ITS ON THE MOVE.

Our principal operating subsidiary, Wilson Sons Limited announced to the Brazilian and Luxembourg Stock Exchanges the following announcement.

Wilson, Sons announces christening of PSV Talha-Mar, the 10th in our fleet of offshore support vessels.

The ship was constructed in the Wilson, Sons Shipyard in Guaruja and delivered to Wilson, Sons Ultratug Offshore (WSUT) in which Wilson, Sons has a 50% interest. The vessel will operate on the spot market before entering service under an eight year contract, with Petrobras in February 2011. Talha-Mar is an offshore support vessel (OSV) that will form part of an expected fleet of 24 that WSUT plans for operation by 2015.

Talha-Mar was christened at the Wilson, Sons Ponta d'Areia vessel support site in Niter (RJ). The vessel specification is 87.4 m length, 16 m width, draft of 5.95 m, 4,500 deadweight tones and speed of 15 knots. The vessel was built with technological and design input of Damen and financing of the BNDES as agent for Merchant Marine Fund (FMM).

The WSUT strategy is to build vessels to attend the demand from national and international oil companies operating in Brazil. According to the Petrobras strategic plan, they require 250 new chartered OSV's by 2020 to fulfill their exploration and production of pre-salt and post-salt reserves.

always assuming the world (who cares about UK?) does not go back into recession, shipping is bound to benefit ..... fwiw, our company's biz, which is chemical related, is 98% overseas throughout the world, and we certainly see no slackening of demand

Giz a job Cynic, could do with a change :-)

The chairman just purchased 10,000 at 1321 pence.

Ocean Wilsons Holdings Limited
Our principal operating subsidiary, Wilson Sons Limited made the following announcement to the Brazilian and Luxembourg Stock Exchanges.

Wilson Sons Limited ("Wilson Sons"), a public held company traded on the BM&FBovespa under the ticker WSON33, hereby announces to all its shareholders that, through its wholly-owned subsidiary Wilson Sons Estaleiros Ltda, it has signed a contract with Oceanpact Serviços Marítimos Ltda ("Oceanpact") for the construction of four Oil Spill Recovery Vessels ("OSRVs"), with recovered oil storage capacity of 1,050 m³, length of 67 meters, and beam of 14 meters. The contract shall be effective after the payment of the first installment of each vessel.

For the construction of the four vessels, Oceanpact will pay approximately BRL 333 million (three hundred and thirty three million brazilian reais). The vessels, which are scheduled to be delivered by 2016, will be built in Wilson Sons' Shipyard complex, in Guarujá (SP).

Ex-divi 7th May 2015 (63¢)