Dayang likely to benefit from offshore support

TheStar Thu, Jun 16, 2022 08:40am - 1 year View Original


HLIB noted that many offshore marine services companies have exited the industry, while some had gone bust following the slump in oil prices from 2015 to 2020.

KUALA LUMPUR: Dayang Enterprise Holdings Bhd is expected to benefit from an increase in offshore support vessels (OSV) charter and blended fleet utilisation rates, this year.

Following a conference call with the integrated oil and gas services provider, Hong Leong Investment Bank (HLIB) Research said it is upbeat about the company’s earnings prospects this year.

“The group has guided that the OSV charter rates have increased by a total of 3% to 5% year-on-year as the market has declined over the years,” it said in a report yesterday.

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