S'pore's offshore and marine stocks could rally amid Mid-East tensions

Rising tensions in the Middle East, which portend higher oil prices, could provide an uplift to offshore and marine sector companies listed in Singapore.

- Ven Sreenivasan

Stocks like Seatrium, Marco Polo Marine, Dyna-Mac, Mermaid Maritime, Kim Heng, Pacific Radiance and Beng Kuang Marine, and others that specialise in offshore energy-related activity could be boosted by rising oil prices resulting from the conflict in the Middle East.

With Israel launching concerted attacks on Hezbollah in southern Lebanon and the Houthis in Yemen over the past few days, there is widespread concern that energy supply chains originating from the region could be disrupted.

Maybank Securities' head of research Thilan Wickramasinghe sees rising investor sentiment for oil with all the uncertainties ratcheting up in the Middle East.

With Israel launching concerted attacks on Hezbollah in southern Lebanon and the Houthis in Yemen over the past few days, there is widespread concern that energy supply chains originating from the region could be disrupted.