shipyards

Yangzijiang may be the only O&M stock to deliver stronger q-o-q results this season: CGS-CIMB
SINGAPORE (July 13): CGS-CIMB Securities is maintaining its sector “overweight” on Singapore’s offshore & marine (O&M) industry with expectations of Yangzijiang Shipbuilding to deliver stronger q-o-q earnings on stronger shipbuilding margins. The counter has been rated “add” with a target price of $1.27, ahead of its 2Q results due Aug 8. In a Tuesday report, analyst Lim ...
Yangzijiang's share price ready for a rebound after falling 50% YTD, says DBS
SINGAPORE (July 3): DBS is reiterating its “buy” call on Yangzijiang Shipbuilding (YZJ) with an unchanged target price of $1.82, which translates to 1.25 times price-to-book value (P/BV), approximately 0.4 standard deviation points below the historical mean of 2 times since listing. This comes on the belief that the counter’s share price is set to stage a rebound after falling 50% YTD ...
Civmec to participate in construction of Australia's new offshore patrol vessels
SINGAPORE (Nov 24): Civmec, the multi-disciplinary construction and engineering services provider, will be engaged in Australia’s upcoming A$4 billion ($4.1 billion) project to construct offshore patrol vessels (OPVs) as part of the country’s efforts to regenerate its naval capability. In a media release issued by the Turnbull government on Friday, it is revealed that the 12 OSVs will be ...
Morgan Stanley initiates coverage on Singapore’s O&M industry with bearish view
SINGAPORE (Aug 25): Morgan Stanley Research has initiated coverage on Singapore’s offshore marine and utility segment with two “underweight” ratings and one “equal weight” call.   In its ASEAN Energy & Utilities report released on Thursday, the Morgan Stanley research team says while it believes Singapore’s shipyards will benefit from bigger order books resulting from the ...
17 hot stock picks following a season of strong 2Q gains
SINGAPORE (Aug 17): UOB Kay Hian has upgraded its FTSE Straits Times Index (FSSTI) target forecasts up to 3,410 from 3,250 previously on “pockets of solid outperformances”  in the 2Q17 financial reporting season, which concluded this week.   In a Thursday report, analyst Andrew Chow recaps on what he calls an encouraging 2Q17 reporting season, which saw 28% of companies reporting ...
Is the global shipping market slowly turning around?
SINGAPORE (Aug 16): The global shipping market might be on the cusp of a real recovery after spending a decade lost at sea. Since the global financial crisis, the industry has been dogged by over-capacity and sputtering global trade, but Clarkson, one of the world’s largest shipbrokers, says it is seeing “very early signs” of a revival. “This is a fundamental turnround and not just ...
Could changes to Cosco’s core business be underway?
SINGAPORE (Aug 8): DBS Vickers Securities is maintaining its “hold” call on Cosco Shipping International (Singapore) with an unchanged target price of 27 cents after the group last week reported a narrowing of its 2Q losses to $20.8 million. See: Cosco Shipping 2Q net loss narrows to $20.8 mil In a Tuesday report, analyst Ho Pei Hwa suggests that Cosco’s recently-signed memorandum of ...
3 ways Keppel Corp and Sembmarine could benefit from M&A
SINGAPORE (July 21): DBS Vickers Securities says the possibility of M&A between Keppel Corporation and Sembcorp Industries (SCI) has resurfaced, prompted by prevailing challenges in the O&M sector and recent changes in the leaderships of both groups. In a Thursday report, analysts Ho Pei Hwa and Janice Chua detail three scenarios. Firstly, both groups’ units Keppel Offshore & ...
Tide turning for these stocks as offshore & marine sector picks up
SINGAPORE (March 1): Credit Suisse is turning positive on Singapore’s offshore and marine (O&M) sector on expectations of a rerating from close-to-trough valuations. This comes as oil prices have been stabilising above US$50/bbl with the research house’s proprietary tracker pointing to an inflection in the bidding pipeline for contracts in Feb this year. With that, Credit Suisse's ...
Why a comeback is still not guaranteed for Singapore’s O&M playing field
SINGAPORE (Dec 19): While oil market prospects may be improving after OPEC’s move to initiate production cuts, DBS Vickers Securities is taking a “neutral” stance on Singapore’s offshore and marine (O&M)/China yards. In the research house’s Singapore Strategy 2017 Outlook report, analyst Ho Pei Hwa explains that an improving oil market may “motivate” rig owners to take ...