Offshore support services see returns go down 13.4% over the year: SGX

Amid the oil rout.

Declining demand in Europe, China and the Energy renaissance within the United States led to the 43.2% and 46,% crashes in the price of WTI Crude Oil and Brent Crude Oil, respectively.

According to SGX, the 32 stocks that represent the offshore support services segment have generated an average decline of 13.4% in total return over the year thus far.

SGX adds that these 32 stocks have a combined market capitalisation of $8b. The five largest capitalised offshore stocks are Ezion Holdings, PACC Offshore Services Holdings, Pacific Radiance, Ezra Holdings and Mermaid Maritime Public Company. These five stocks averaged 16.1% price decline December thus far.

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