Singapore
THE road to recovery for Singapore's embattled offshore and marine (O&M) sector will be a bumpy one - with consolidation looming on the horizon for large-cap yard operators and small- to mid-cap offshore support vessel players, analysts said.
So is Keppel Corporation and Sembcorp Marine's recent surge past the psychological S$8 and S$2 price points premature?
The driving force behind the share recovery could lie in recent advances in oil prices and talk of a potential merger or privatisation.
Speculation over the privatisation or divestment of SembMarine by Sembcorp Industries is not new. As far back as last May, DBS Vickers painted this and a merger between Keppel O&M (KOM) and SembMarine...