O&M will take years, post-oil rebound, to make a turnaround
Geopolitical risks, overcapacity and regulatory challenges will also stymie a quick recovery: industry
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Singapore
EVEN with the prospect of oil market-rebalancing looking up with the agreement by Opec to cut production, investors are going to need holding power if they are betting on beleaguered offshore & marine (O&M) counters returning to the pink of health any time soon.
This warning, drawn from industry commentaries, flies in the face of a resurgent investor interest in O&M and oil and gas (O&G) counters on Thursday. SembCorp Marine, Ezion Holdings, Ezra Holdings, KrisEnergy, Nam Cheong Dockyard and Vallianz Holdings ended the trading day higher.
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