Have We Hit Peak Globalization?

14.03.2017 • Emerging Markets

By Ankit Shah – Vivek Kaul’s Inner Circle (India) –

At the start of 2016, I wrote a special note about Global Offshore Services Ltd (GOSL) – a company in the offshore shipping market that provides offshore support vessels for oil and gas exploration.

At the time, the stock price was trading around Rs 300 after tumbling from a high of Rs 864 in just one year’s time…

First, a little bit about the business dynamics of Global Offshore Services Ltd.

Global Offshore’s business is directly linked to crude oil prices.

High crude oil prices encourage international oil majors to spend more on oil exploration and production.

This tends to benefit companies like Global Offshore that have presence not only in India, but in Brazil and West Africa where vessels command premium rates.

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