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Published Thu, Aug 17, 2017 · 09:50 PM
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Mermaid Maritime | HOLD Target price: S$0.14 August 17 close: S$0.143 DBS Group Research, August 17
Mermaid's order book declined by some 34 per cent quarter-on-quarter to US$98.6 million for Q2 '17, setting a new low. While continued deferment of Inspection, Repair and Maintenance (IRM) work by oil majors is one reason, we cannot discount the effects of stronger competition from increased tonnage in the region. One of…
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