Offshore and Marine (O&M)

SINGAPORE (April 28): Since succeeding his father as CEO in January 2016, Jeffrey Soon has been trying to steer Heatec Jietong into the chemicals industry, which could offer more opportunity for growth than the offshore and marine (O&M) sector.

SINGAPORE (March 8): Lim & Tan Securities is upgrading its rating on Ezion Holdings to “hold” from “reduce” previously, mainly because it is now trading at an improved price-to-book value of 0.58x P/B.

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.