SINGAPORE (Sept 20): DBS Group Research says a strong uptick in rigs transactions over the past six months is pointing to a rig market recovery.
And the brokerage believes it is time to have a relook at the Singapore rigbuilders.
“We continue to like Keppel Corp as a proxy to ride on a property and offshore & marine recovery, while Sembcorp Marine is a pure play to tap into an oil & gas recovery,” says lead analyst Ho Pei Hwa in a Wednesday report.
See: Keppel unit bags $545 mil contract to build two LNG vessels in US
See: SembMarine partners US gas company SeaOne in fuel supply project