Singapore’s largest marine stocks slide 20.2% amid oil rout

The top 5 stocks averaged a 1.3% decline in YTD total return.

Oil prices are still languishing at the bottom, and Singapore’s marine stocks are not exempted from experiencing hard blows.

With the price of oil falling below USD$50 per barrel – a drop in more than 50% since June when the price was USD$115 a barrel, the 20 largest capitalised marine stocks reported an averaged decline of 20.2% in total over the last 12 months.

According to SGX, of the 20 largest capitalised stocks, there are 11 industrials, eight energy and one consumer discretionary categorised to the Global Industry Classification Standard (GICS®).

SGX adds that the 20 largest capitalisation stocks in the Maritime & Offshore Services industry have a combined market capitalisation of S$46.1 billion and they averaged a 2.1% decline in year-to-date total return.

Here’s more from SGX:

The five largest capitalised marine industry stocks are Keppel Corporation, Sembcorp Marine, Hutchison Port Holdings Trust, Yangzijiang Shipbuilding and Genting Hong Kong. Together, they have a market capitalisation of S$34.8 billion which represented more than three-quarter of the combined market capitalisation of the top 20 marine industry stocks. These five stocks averaged 1.3% decline in year-to-date total return.