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

Marco Polo Marine - Sailing With The Wind; initiate With BUY

Marco Polo Marine (SGX:5LY) | SGinvestors.ioMarco Polo Marine (SGX:5LY)
  • 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.
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Strong demand - charter rates rising 5-15% annually

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  • 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

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Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @

Jarick Seet Maybank Research | 2024-03-20

Read also Maybank's most recent report:
2024-04-17 Marco Polo Marine - Landmark Financing Secured.

Price targets by 3 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


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