Siem Industries is a diversified holding company that operates through its autonomous industrial subsidiaries and affiliates that are engaged in the oil and gas services industry and renewable energy sector, ocean transportation of refrigerated cargoes and automobiles, potash-mining and finance, which includes loans and guarantees, specialist credit advisory services and investments.
Our strategy is to focus on long-term growth rather than on short-term results. We have a history of active participation in the consolidation and restructuring of different industries including the offshore drilling industry (Wilrig ASA, Transocean), the subsea construction industry (Subsea 7), the reefer shipping business (Star Reefers) and the passenger cruise industry (NCL, Norwegian Cruise Line).
The Company’s main subsidiaries and investments include Subsea 7 S.A. (20.7% ownership), Siem Offshore Inc. (34.4%), Siem Shipping Inc. (d/b/a STAR Reefers Inc., 76.1%), Siem Car Carriers (100%), Siem Capital AB (64%), Siem Investments Inc. (100%), Deusa International GmbH (49%), GTL Resources Limited (beneficial 38.15%), Venn Partners LLP (49%), Venn Capital S.a r.l. (100%), VSK Holdings Limited (55%) and Deep Seas Insurance Limited (51%).
For the year ended 31 December 2013, the Company reported consolidated net income attributable to Common Shares of USD159.3 million, or USD10.47 per share. For the comparative year ended 31 December 2012, the Company reported consolidated net income of USD246.5 million, or USD16.15 per share. At 31 December 2013, shareholders’ equity was USD2.2 billion.