Interesting Week Ahead, page-17

Tradewinds article of interest today- As entirely expected, all the OSV companies have missed targets, but Singapores OCBC bank sees a turnaround on the cards...

"OCBC's ray of light" - 26th May 2015

Some excerpts

"First quarter results season has been difficult for Singapore’s offshore and marine companies but OCBC believes the number of buying opportunities will soon increase."

"Analyst Low Pei Han says this reporting season has been the "harbinger of challenging times ahead".
Indeed, of the 13 oil and gas and offshore marine companies covered by the bank, most missed earnings forecasts and none were able to beat the street, OCBC said in a report on Friday.
The analyst says SGX quoted offshore support vessel owners are placing utilisation above rates right now.
“Those with stronger balance sheets are waiting for their chance to scoop up distressed assets, and we believe that more opportunities may present themselves in the months ahead,” Han wrote.
She added: “Many owners are implementing cost-cutting measures, but those with already lean teams are hesitant to do so as safety and reducing downtime of vessels are still priorities.
“If head count is cut too drastically, rehiring competent crew may also be a problem when the market starts to recover.”