Shares of Keppel Corp. (BN4.SG), Sembcorp Marine (S51.SG) should continue to do well near-term as both expected to secure total of about $11 billion worth of orders for deepwater rigs, production units this year, says CIMB, according to Dow Jones Newswires.
“The likelihood of a protracted offshore capex is high, given sustained stable oil price expectations and recovering financing markets. We believe that it is only a matter of time before oil majors start to spend again.”
