Marco Polo Marine - UOB Kay Hian 2024-03-22: Tailwinds From Favourable Charter Rates & Maiden Expansion Into Korea

• 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.
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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.
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• 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.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-05-13 Marco Polo Marine - 1HFY25 Earnings In Line; Poised For Growth In Offshore Wind Sector.

Previous report by UOB:
2025-04-30 Marco Polo Marine - Ushering In A New Chapter.

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