SBM Offshore: Getting Close To A Rebound
SBM Offshore NV ADR (SBFFY) services offshore energy production. Its primary activities include design, installation, operation, and life extension of Floating Production Storage and Offloading (or FPSO) vessels. I think the stock will remain range-bound in the short term. However, the company has enough growth drivers to produce reasonably positive returns over the medium to long term. Annually, ten FPSOs can be awarded for the next three years around the world. Recently, it has signed a comprehensive agreement with Exxon Mobil (XOM) that covers the future FPSO potential,