“Since their troughs in November 2020, the number of active offshore rigs as well as competitive utilisation have continued their recovery,” Loh writes in a July 7 report.
UOB Kay Hian analyst Adrian Loh has maintained “market weight” on the offshore & marine sector, following his previous sector update in mid-March.
Since then, the sector has continued its recovery amid improving industry conditions, albeit at a snail’s pace.
