UOB Kay Hian analyst Adrian Loh has maintained “market weight” on the offshore & marine sector, following his previous sector update in mid-March.

Since then, the sector has continued its recovery amid improving industry conditions, albeit at a snail’s pace.

“Since their troughs in November 2020, the number of active offshore rigs as well as competitive utilisation have continued their recovery,” Loh writes in a July 7 report.

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