- As oil and gas activities pick up and oil prices remain favourable, Marco Polo Marine (SGX:5LY) will continue to enjoy good demand and favourable charter rates for its OSVs, which are at a nine-year high. The low fleet growth in the OSV industry will keep day rates elevated.
- - Read this at SGinvestors.io -
Higher demand for OSVs as oil and gas activities pick up.
- Oil & gas activities have continued to see improvement, enabling oil and gas prices to increase. This has led to positive motivation for the recovery of the offshore support vessels (OSV) industry. Moreover, we observed a rapid rise in offshore wind energy projects, particularly in the Asia-Pacific (APAC) region, where Marco Polo Marine operates.
- - Read this at SGinvestors.io -
- From the Offshore Intelligence Network, we note that Marco Polo Marine's ship chartering revenue growth is largely in line with the rising average charter rates.
Benefit from OSV supply squeeze and expansion into Korea starting 4Q24.
- 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/ 2024-03-22
Read also UOB's most recent report:
2024-04-11 Marco Polo Marine - Virtual Call Takeaways ~ Thriving On Upswing In Offshore Industry.
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
