Thursday, June 21, 2012

Oil & Gas: Maintain Overweight - FPSO Market - Lively and Vibrant

Pulsating with opportunities. We foresee a strong push for new and rewarding FPSO contracts over the next five years, at a rate of 15-20 new orders p.a.. We see a greater preference for small- to mid-sized leased converted FPSOs, with demand from the Asia-Pacific and Latin American regions. Bumi Armada, Perisai, Yinson and SapuraKencana are our picks to play the burgeoning demand for FPSOs.

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Source: Maybank Research - 21 June 2012

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