SINGAPORE (Oct 1): UOB Kay Hian is keeping its market-weight rating on Singapore's offshore and marine sector after it cuts its 2015 and 2016 price estimates on Brent crude.

“Whilst the global oil & gas industry continues to face poor earnings visibility, this is more likely to be due to the slowdown in activities than another round of steep cuts,” UOB Kay Hian says.

Day-rates of service providers, many of which are listed in Singapore, are expected to stabilise, it says, predicting earnings to “bounce along the bottom”.

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