- MarcoPolo Marine (SGX:5LY)’s business has stayed resilient amid the uncertain macro environment, due to better-than-expected fleet charter and utilisation rates, as well as its acquisitions during the year.
- - Read this at SGinvestors.io -
Strong demand from both oil & gas and offshore windfarm sectors drive charter rates.
- Since the end of the COVID-19 pandemic, vessel charter and utilisation rates for tugboats, barges and offshore support vessels (OSV) have been on the rise. Additionally, the ongoing geopolitical tensions continue to drive oil prices up to their strongest levels in almost eight years. The elevated crude oil prices of above US$100 during the year have led to oil majors looking to increase production in the commodity. This resulted in higher capex towards reactivating offshore production platforms and further raised industry utilisation positively for OSV.
- - Read this at SGinvestors.io -
Minimal newbuilds on smaller-sized vessels provide support on dayrates.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Heidi Mo UOB Kay Hian Research | John Cheong UOB Kay Hian | https://research.uobkayhian.com/ 2022-12-07
Read also UOB's most recent report:
2024-12-06 Marco Polo Marine - FY24 Earnings Beat; Bright Prospects Ahead.
Previous report by UOB:
2024-08-29 Marco Polo Marine - 3QFY24 Temporary Setback From CSOV Delay; Await Recovery In FY25.
Price targets by 2 other brokers at Marco Polo Marine Target Prices.
Listing of research reports at Marco Polo Marine Analyst Reports.
Relevant links:
Marco Polo Marine Share Price History,
Marco Polo Marine Announcements,
Marco Polo Marine Dividends & Corporate Actions,
Marco Polo Marine News Articles
