OREANDA-NEWS. The SGX Maritime & Offshore (MOE) Index is a free-float, market capitalisation-weighted index that measures the performance of listed maritime and offshore companies in Singapore. The Index has gained 6.3% over the first six of sessions of June. As of 12 noon on 9 June, the Index has extended its month-to-date gain from 6.3% to 7.5%, which pared its year-to-date decline to 7.8%.

The SGX MOE Index is currently composed of 23 stocks with a combined market capitalisation of S$35 billion. The average price-to-earnings (P/E) ratio for the 13 constituents that maintain a P/E ratio is 11.3, with the average price-to-book (P/B) of the 23 constituents at 0.70.

Constituents in the SGX MOE Index include shipyard operators, shipping companies and companies providing offshore services. To be eligible for index inclusion, existing constituents must either: (i) derive at least 40% of sales revenue from the MOE industry; or (ii) maintain at least 40% of operating assets within the MOE industry.

The year-to-date price swings of the SGX MOE Index are illustrated below. With a historical 30 day volatility of 24.9%, the Index has generated more than double the volatility of the FTSE ST All Share Index over the past 30 days. The increase in the SGX MOE Index from 378 on 1 June to 412.6 this morning has coincided with the price of crude oil moving from below US$50/bbl to above US$50/bbl.