Strange timing that ZGL transformation of its offshore marine deck machinery into green marine propulsion & onshore gas processing plants coincided with tangible signs of recovery in offshore oil drilling activities that is projected to grow at CAGR 5.6% till 2026 , now with oil at multiyear high. An old market darling ,MCE won a couple of contracts for its riser buoyancy in the last few weeks from Transocean (both were on the brink of going belly up) MCE is up some 80% from the low & Transocean has gained 400% in the last 12months. Will not be surprised to see ZGL producing decent profits & free cash flow in 2022 with the resumption of dividends. Hold tight.
ZGL Price at posting:
13.0¢ Sentiment: None Disclosure: Held
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