- We are more positive on Marco Polo Marine (SGX:5LY) given the recent crew transfer vessel (CTV) arrangement with Siemens Gamesa, which will see Marco Polo Marine’s fleet size increase and boost FY25F-26F earnings – we raise earnings by 8-10% as a result.
- - Read this at SGinvestors.io -
- Keep BUY rating on Marco Polo Marine, with higher S$0.081 target price.
Safe from Taiwan’s earthquake.
- We see minimal impact to Marco Polo Marine from last week’s 7.4 magnitude earthquake at Hualian City.
- - Read this at SGinvestors.io -
- We also understand that most of Marco Polo Marine’s projects are located in the western side of Taiwan as opposed to the Hualien City epicentre on the island’s eastern coast. Hence, we believe there should be no major negative impact on operations for now.
- In addition, project owners are typically required to continue paying for ship charters even if they encounter project delays. We believe Marco Polo Marine’s ship chartering contracts are unlikely to be exceptionally different from standard industry practices.
Raise FY25F-26F earnings by 8-10% on more positive Siemens Gamesa CTV arrangement.
- Read more at SGinvestors.io.
Alfie Yeo RHB Securities Research | https://www.rhbgroup.com/ 2024-04-08
Previous report by RHB:
2024-02-19 Marco Polo Marine - Chartering Tailwinds Driving Growth; Keep BUY.
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
