offshore and marine

SINGAPORE (Dec 8): Mermaid Maritime has entered into a mutual agreement with China Merchants Industry Holdings to terminate their construction contract for a dive support and construction vessel in light of the challenging oil and gas market.

SINGAPORE (Dec 6): CIMB is upgrading the Singapore offshore and marine sector to “neutral” citing anticipated gradual uptick in crude oil prices in 2017 and the Singapore government schemes to alleviate working capital and capex needs of small players

SINGAPORE (Dec 5): CIMB is upgrading the offshore and marine sector to “neutral” as it forecasts higher crude oil prices of between US$45 and US$60 per barrel.

SINGAPORE (Nov 11): DBS is maintaining a “fully valued” call on offshore support vessel (OSV) and services provider Pacific Radiance with a target price of 12 cents, citing strong headwinds and deteriorating outlook.

SINGAPORE (Nov 1): The plunge in oil prices has reversed the fortunes of many players in the offshore and marine industry, ranging from rig builders and shipyards to services and support providers. But with oil prices beginning to recover, KGI analyst Joe

SINGAPORE (Oct 11): The Singapore Exchange has queried KrisEnergy over its trading activity, its second time in 30 days, noting the unusual price movement of its shares.

SINGAPORE (Oct 7): UOB Kay Hian is maintaining its “underweight” call for the offshore and marine sector citing flat capex from oil majors despite improved sentiment from OPEC cuts.

SINGAPORE (Sept 30): CIMB is maintaining its “underweight” call on the Offshore & Marine sector despite the proposed cut in production by the Organization of Petroleum Exporting Countries (OPEC) announced on Friday.

SINGAPORE (Sept 29): DBS Group Research is reiterating its “buy” call on Sembcorp Industries with a target price of $3.10, citing the group’s undervalued utilities business although it has expanded regionally.

SINGAPORE (Sept 21): Maybank Kim Eng is maintaining a “sell” on Keppel Corporation with a target price of $4.54, up from $4.50 previously.