Rising Crude Prices Lift Singapore’s Largest Shipyard Stocks
In the YTD, Singapore’s three biggest shipyard stocks have averaged a total return of +6.2%, bringing their 1Y and 3Y total returns to -24.1% and +41.3% respectively. Following crude’s rally, these three largest shipyard plays are now trading marginally above par value at an average P/B ratio of 1.2x. Their share prices have also recovered in tandem with higher oil prices – rebounding an average 27% from their 52W lows.