New orders for rigs, offshore renewable installations as well as repairs and upgrades for cruise ships and other commercial vessels could act as a catalyst for Sembcorp Marine’s share price, according to a local analyst.
“While the recent order win worth SGD200m ($144m) from the Brazilian Navy was largely expected, this nevertheless underscores the company’s continuing positive momentum and we expect more conventional and renewables orders in the near to medium term,” said UOB Kay Hian analyst Adrian Loh.
