Vallianz Holdings saw a 28.6% jump in its share price.
This chart from the Singapore Exchange (SGX) shows that the big five offshore supply vessel (OSV) firms rebounded 21.3% amidst the crude hike of more than 20% since the start of 2018.
Amongst the top five players, Vallianz Holdings saw the strongest price recovery as its share price jumped 28.6% from their 52-week lows. Coming next are Mermaid Maritime (21.4%), Sinwa (21.1%), Dyna-Mac Holdings (18.0%), and PACC Offshore Services (17.4%).
“OSV stocks are heavily dependent on the fortunes of the crude market. They are widely viewed as one of the key beneficiaries of a rebound in oil prices,” SGX explained.
According to them, crude continues to hover near four-year highs amidst fears sprouting from a looming supply crunch following a disruption in oil exports from Iran and declining production in Venezuela.
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