Marco Polo Marine - Maybank Research 2024-03-20: Sailing With The Wind; initiate With BUY

• We initiate coverage of Marco Polo Marine (SGX:5LY) with BUY and a target price of S$0.088, based on 11x FY24E P/E.
• Marco Polo Marine, a long-time operator in the chartering and shipyard business is benefiting from the surge in demand and charter rates due to competition for vessels from the O&G and renewable energy sectors.
• - Read this at SGinvestors.io -

Strong demand - charter rates rising 5-15% annually

• - Read this at SGinvestors.io -
• All in all, we expect charter revenue to continue to rise by 25% y-o-y for FY24E and FY25E.

CSOV should be a key contributor in FY25E

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-05-09 Marco Polo Marine - 3Q25 Will See A Boost; Maintain BUY..

Previous report by Maybank:
2025-02-19 Marco Polo Marine - Earnings Uplift In 2HFY25E.

Price targets by 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 Dividend Payout Dates & Corporate Actions,
Marco Polo Marine News