SINGAPORE (Oct 16): Deutsche Bank is still downbeat on the offshore and marine (O&M) sector, as it expects new orders to remain weak, despite firmer crude oil prices.

It warns that offshore drillers and oil companies should remain “cautious” on their capital expenditure plans well into 2016, given the “significant” rig oversupply situation.

If there are any offshore contracts up for grabs, it is likely to attract aggressive bidders, and hence drive down prices and margins, it says.

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