Concerns about SembCorp Marine’s weak earnings outlook and capital expenditure on expansion by have been overblown, says a top investment bank.
Shares in the Singapore-listed yard group have corrected 15% in recent days, according to Nomura offshore industry analyst Abhishek Nigam.
“Overall, we believe as Brent oil prices remain strong, offshore and marine fundamentals continue to improve, slowly but sustainably,” says the Singapore-based analyst
“We like SembCorp Marine for its improving new order outlook and that it is a pure O&M play; improving gearing; and its clean orderbook – i.e.
