Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    CIMB upbeat on Southeast Asia's offshore and marine sector

    News // March 19, 2012

    Reuters reports that CIMB Research says it is seeing "shoots of recovery" in the offshore support vessel (OSV) sector as more new rigs intensify demand.

    "With fleet growth coming to an end, we see OSV supply tightening in 2012," the brokerage said and kept its overweight rating on the offshore and marine sector.

    STX OSV Holdings Ltd and Ezra Holdings Ltd are CIMB's top picks, given their global exposure and links to the North Sea. It raised its target price on STX OSV to S$2.02 from S$1.78.

    CIMB sad it was generally more positive on Singapore vessel owners than shipyards as improving utilisation in the early phase of this upcycle should have an immediate impact on their profitability.

    CIMB has an outperform rating on Ezra, Ezion Holdings Ltd , Mermaid Martime PCL and Swiber Holdings Ltd, STX OSV and ASL Marine Holdings. It has an underperform rating on Otto Marine Ltd.


    More articles from this category

    More news