The SGX MOE Index gained 12.5% in the past month, mainly due to crude prices which rallied 16.4% after OPEC announced production cuts.
The five best-performing SGX MOE Index constituents are Ezion Holdings (+26.7%), IEV Holdings (+24.5%), Vard Holdings (+22.4%), AusGroup (+22.0%) and Yangzijiang Shipbuilding (+16.6%). These five stocks averaged 22.4% total return in the past month.
The SGX MOE Index consists of 18 constituents and has a combined market capitalisation of over S$29 billion. Index constituents include shipyard operators, shipping companies and companies providing offshore services.
WTI Crude Rallies on OPEC Output Cuts
West Texas Intermediate (WTI) Crude closed at US$51.28/bbl yesterday, one of the highest levels seen in the year-to-date. Oil prices have rallied 16.4% in the past month and are now almost double that seen in mid-February this year. The recent momentum in crude was mainly due to the Organization of Petroleum Exporting Countries’ (OPEC) decision to cut production from January 2017 by around 1.2 million barrels per day (bpd) to 32.5m bpd. OPEC has also invited non-OPEC oil producers for a meeting on December 10, where details of the coordinated production cuts will be finalised. Over the past month, the SGX Maritime & Offshore (MOE) Index has gained 12.5% in tandem with crude’s rally (and outperforming the STI’s 5.6% rise), implying a rebound of 15.5% off the lows of 299.56 set in early September this year.
Five Best-Performing SGX MOE Index Constituents
The five best-performing constituents in the SGX MOE Index for the month-to-date are: Ezion Holdings, with a total return of 26.7%, IEV Holdings (+24.5%), Vard Holdings (+22.4%), AusGroup (+22.0%) and Yangzijiang Shipbuilding (+16.6%). These five constituents averaged a total return of 22.4% in the past month. These five companies have a combined market capitalisation of S$4.4 billion and trade at a price-to-book (P/B) ratio of 0.6x.
Two Index Constituents Amongst Last Week’s Volume Leaders
Based on SGX’s data, Keppel Corp and Sembcorp Marine, both constituents of the SGX MOE Index, were also amongst the top 10 volume leaders last week. These two companies have averaged a total return of 5.4% last week. Keppel Corp was also the stock that saw the highest level of net inflows from institutional investors last week at S$42.2 million. Please click here for more information.
The SGX Maritime & Offshore (MOE) Index is a free-float, market capitalisation-weighted index that measures the performance of listed maritime and offshore companies in Singapore. It consists of 18 constituents with a combined market capitalisation of over S$29 billion. Constituents in the index include shipyard operators, shipping companies and companies providing offshore services. Index methodology information is provided below in the tables.
The tables below details the 18 SGX MOE Index constituents, and are sorted by one-month return. Click on each stock to visit its profile page on SGX StockFacts.
| Name | SGX Code |
Market Cap in S$M |
Total Return 1 Mth % |
Total Return YTD % |
Total Return 1 Yr % |
|---|---|---|---|---|---|
| Ezion Holdings | 5ME | 757 | 26.7 | -31.1 | -30.6 |
| IEV Holdings | 5TN | 19 | 24.5 | 20.0 | 4.8 |
| Vard Holdings | MS7 | 283 | 22.4 | 0.0 | -17.2 |
| AusGroup | 5GJ | 36 | 22.0 | -67.5 | -68.9 |
| Yangzijiang Shipbuilding Hldgs | BS6 | 3296 | 16.6 | -19.4 | -19.4 |
| Sembcorp Industries | U96 | 5269 | 16.3 | -0.9 | -2.5 |
| Sembcorp Marine | S51 | 3071 | 14.0 | -14.1 | -20.0 |
| Keppel Corp | BN4 | 10764 | 12.8 | -4.2 | -3.9 |
| First Ship Lease Trust | D8DU | 105 | 9.7 | 5.6 | 1.8 |
| Nordic Group | MR7 | 92 | 9.1 | 34.2 | 37.1 |
| Triyards Holdings | RC5 | 96 | 7.4 | -33.3 | -32.6 |
| Nam Cheong | N4E | 143 | 6.7 | -52.6 | -53.3 |
| Ezra Holdings | 5DN | 132 | 4.8 | -55.6 | -58.9 |
| Pacific Radiance | T8V | 109 | 2.6 | -48.4 | -49.2 |
| Hutchison Port Holdings Trust | NS8U | 5198 | 1.4 | -11.7 | -12.0 |
| Singapore Shipping Corp | S19 | 109 | 0.0 | -15.0 | -15.0 |
| Vallianz Holdings | 545 | 65 | -10.5 | -61.6 | -64.0 |
| Rickmers Maritime | B1ZU | 23 | -23.5 | -73.5 | -81.8 |
| Average | 9.0 | -23.8 | -27.0 |
Source: SGX, Bloomberg & SGX StockFacts (data as of 5 December 2016)
| Name | SGX Code |
P/E | P/B | ROE % |
Dvd Ind Yld % |
GICS® Sector Name |
|---|---|---|---|---|---|---|
| Ezion Holdings | 5ME | N/A | 0.4 | -1.4 | N/A | Energy Equipment & Services |
| IEV Holdings | 5TN | N/A | 0.5 | 1.0 | N/A | Energy Equipment & Services |
| Vard Holdings | MS7 | N/A | 0.7 | -5.6 | N/A | Machinery |
| AusGroup | 5GJ | N/A | 0.6 | -131.2 | N/A | Construction & Engineering |
| Yangzijiang Shipbuilding Hldgs | BS6 | 13.4 | 0.7 | 5.4 | 5.4 | Machinery |
| Sembcorp Industries | U96 | 19.6 | 0.9 | 5.5 | 3.4 | Industrial Conglomerates |
| Sembcorp Marine | S51 | N/A | 1.2 | -17.9 | 2.4 | Machinery |
| Keppel Corp | BN4 | 10.3 | 1.0 | 9.6 | 5.1 | Industrial Conglomerates |
| First Ship Lease Trust | D8DU | 6.5 | 0.3 | 4.0 | N/A | Diversified Financial Services |
| Nordic Group | MR7 | 7.6 | 1.5 | 20.3 | 4.9 | Construction & Engineering |
| Triyards Holdings | RC5 | 3.8 | 0.3 | 8.2 | N/A | Machinery |
| Nam Cheong | N4E | N/A | 0.3 | -4.3 | N/A | Machinery |
| Ezra Holdings | 5DN | N/A | 0.4 | -132.8 | N/A | Energy Equipment & Services |
| Pacific Radiance | T8V | N/A | 0.2 | -17.3 | 6.5 | Energy Equipment & Services |
| Hutchison Port Holdings Trust | NS8U | 15.2 | 0.7 | 4.5 | 8.5 | Transportation Infrastructure |
| Singapore Shipping Corp | S19 | 8.4 | 1.1 | 15.7 | 4.0 | Marine |
| Vallianz Holdings | 545 | 3.0 | 0.2 | 8.2 | 4.0 | Energy Equipment & Services |
| Rickmers Maritime | B1ZU | N/A | 0.1 | -72.3 | N/A | Marine |
| Average | 9.8 | 0.6 | -16.7 | 4.9 |
Source: SGX, Bloomberg & SGX StockFacts (data as of 5 December 2016)
Index Methodology
The SGX MOE Index is part of a suite of equity indices representing four key segments of the SGX Securities market. Business activities within the maritime & offshore (MOE) sector include, but are not limited to, shipyard operators, shipping companies and companies providing offshore services. Existing and new constituents must derive at least 40% and 50% of sales revenue from the MOE industry respectively.
