This blog was started in March 2014 with the thinking that perhaps I am the only “dirty offshore oil” financial blogger here, who is in the business. Back then, oil price was high and businesses were phenomenally good. Many offshore oil-related SG listed entities were thriving, and many readers were eager to invest into them.
Read my first O&G post: Oil and Gas / Offshore & Marine Stocks in Singapore
TWIST OF SENTIMENTS
Today, there is a dramatic twist in sentiment. This is triggered by the tumble in oil price after mid 2014, followed by the collapse of many local companies.
Ezra, Swiber, and Ezion were once local darlings with over billion dollars market cap. The former two went into administration while the latter is struggling to keep afloat. Many others such as Swissco, Otto Marine, Jaya, KS Energy Kris Energy, Marco Polo, Pacific Radiance, ASL Marine, Falcon Energy, Vallianz, Viking Offshore, Nam Cheong etc, all had similar disastrous fate....
