Charles Fabrikant, chairman of Seacor Holdings Inc. (CKH:US), comments on the business-aviation market in China and the global offshore sector. Seacor, based in Fort Lauderdale, Florida, operates helicopters and offshore support vessels, as well as investing in business-aviation service providers. Fabrikant spoke in an interview in Hong Kong today.
On China’s business-aviation market:
“It’s growing now, and I think the growth will accelerate. Apart from using aircraft now for external use, the efficiency of using it internally in China will grow.
“Eventually, some of the scheduled services to smaller cities will be reduced, if they’re not cost efficient. Those who want to oversee production, quality assurance or do transactions there will then find it more beneficial to fly privately.
“China has something that is distinct -- it has a lot of people, it is still a maturing economy, you would expect any excess investment, whether on aviation or real estate, to get absorbed.
On offshore services:
“You see opportunities in East Africa which are relatively new -- you’ve got more drilling over there. Everyone knows Brazil is an extremely active area. I actually think that the Gulf of Mexico, which was a dead area because of the moratorium, is going to experience more activities again.”
To contact the reporter on this story: Jasmine Wang in Hong Kong at Jwang513@bloomberg.net
To contact the editor responsible for this story: Neil Denslow at email@example.com