Offshore and Marine (O&M)

SINGAPORE (March 1): Credit Suisse is turning positive on Singapore’s offshore and marine (O&M) sector on expectations of a rerating from close-to-trough valuations.

SINGAPORE (Feb 24): CIMB Research is maintaining its “add” rating on Ezion Holdings with a raised target price of 45 cents from 44 cents previously, even as offshore service provider on Thursday reported a widening of new 4Q losses to US$66.6 million

SINGAPORE (Jan 9): DBS Vickers Securities is turning positive on Mermaid Maritime, upgrading its call on the stock from “hold” to “buy” at a raised target price of 24 cents from 14 cents previously due to a more favourable risk-reward profile.

SINGAPORE (Dec 2): UOB Kay Hian has upgraded its rating on Singapore’s oil and gas (O&G) sector to “market weight” for both its offshore marine and shipyard segments, following the Organization of the Petroleum Exporting Countries’ (OPEC) announce

SINGAPORE (Nov 22): Swiber Atlantis, a wholly-owned subsidiary of Swiber Holdings, has signed a memorandum of agreement (MOA) for the sale of its vessel known as Sea Horizon to WAG SPV I, LLC for US$10.25 million ($14.6 million).

SINGAPORE (Nov 10): Ezion Holdings posted a 69.1% decline in 3Q earnings to US$9.4 million ($13.2 million), about a third of the US$30.4 million reported in the same quarter a year ago on lower revenue.

As more and more companies in the offshore and marine (O&M) sector struggle to meet their debt obligations, some analysts and industry watchers are beginning to warn of a wider fallout for the local economy. Investors ought to watch for signs of contagion

SINGAPORE (Oct 21): Keppel Corp’s 3Q results missed its mark, with earnings down 38% to $224 million from a year ago. This has caused mixed reactions for analysts.

SINGAPORE (Oct 20): Keppel Corp reported a 38.1% fall in its 3Q earnings to $224.5 million from a year ago on lower revenue and profitability of its Offshore and Marine (O&M) and Infrastructure divisions.

SINGAPORE (23 Sept): UOB Kay Hian is maintaining its “buy” call on Sembcorp Industries, with a target price of $3.29.