Brokers' take
Add BT as a preferred sourceSingapore offshore & marine | Negative
Maybank Kim Eng, Jan 19
SETE Brasil's potential bankruptcy and oil's unending rout have brewed extreme pessimism on Singapore rigbuilders. We see no respite over the next six months, given: 1) weak rig orders; 2) contract cancellation risks; and 3) potential asset writedowns.
