UOB Kay Hian, 26 September 2025
Excerpt from UOB Kay Hian report.
Report Summary
- The offshore & marine sector remains robust, with offshore rig day rates rising year-to-date, supported by upgraded global oil demand forecasts and increased greenfield project capex. FPSO and non-FPSO project pipelines are strong, with over US\$38 billion expected to be awarded in the next 12 months.
- Shipping industry earnings continue to improve, helped by geopolitical factors like Red Sea disruptions boosting tonne-mile demand. Seatrium (STM) has strategically divested its US yard, and Marco Polo Marine is positioned to benefit from Asia-Pacific offshore wind growth despite industry challenges.
Above is an excerpt from a report by UOB Kay Hian. Clients of UOB Kay Hian can be the first to access the full report from the UOB Kay Hian website : http://research.uobkayhian.com
