- Demand across the offshore marine asset classes has continued since our last update in Jul 23. Company managements’ comments during the 1H23 reporting season in the US and Europe indicated a strong belief that the current cycle will be resilient and have a long duration.
- With oil prices likely to remain at elevated levels in the medium term, sentiment towards the sector should be positive, in our view. Maintain OVERWEIGHT on the sector. Key stock pick is Seatrium (SGX:S51).
The offshore marine sector continues to see strong demand
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
- Subsea7 stated that “there is a very long cycle in oil and gas coming, there are a number of good years ahead of us”.
- TechnipFMC meanwhile commented that many projects are “in advanced stages (and) moving towards final investment decision”.
Oil prices should be supported in the near to medium term
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-09-26
More views on outlook of offshore & marine sector:
Analyst Reports on Singapore Offshore & Marine Sector
