As three O&G support companies Coastal Contracts, Alam Maritim and Sealink highlighted in previous post involve in Offshore Support Vessels (OSV), it is important to know more about the outlook of the OSV in general.
Below best illustrated the driving force of the demand of OSV and its current scenario.
Source: Presented at Tugs & Offshore Support Vessels (TOSV) Asia 2010,
Kuala Lumpur, Oct 07 & 08, 2010 by Mantrana Maritime Advisory
The oversupply of OSV is still the biggest issue currently which affecting the order of new OSV and the chartering rate. Latest earning reports of Alam Maritim and Tanjung Offshore which mainly deriving their earning through chartering of OSV is disappointing. Although Coastal Contracts, with shipbuilding as their main contributor, announcing a good set of quarterly earning, there are still no announcement of new order received since 2008.
So, would you still bet on these three stocks? Or which of these three would be your best bet? Please exercise your own judgment.
No comments:
Post a Comment