Marco Polo Marine - Maybank Research 2024-10-07: Beneficiary Of Rising Oil Prices

• With oil prices rising, we expect charter rates to continue to rise in the near term and utilisation across Marco Polo Marine (SGX:5LY)’s vessels likely to remain high.
• We also believe that Marco Polo Marine's current valuation at 6.6x FY25E P/E is attractive as CSOV and CTV earnings should kick from FY25E.
• - Read this at SGinvestors.io -

Repair volumes likely to surge in FY25

• There were fewer 3rd-party repair works in 3QFY24 as one of Marco Polo Marine’s dry docks was occupied by its CSOV, construction of which has been delayed. This also caused a shortage of staff to work on 3rd-party repairs. As a result, this is likely to affect Marco Polo Marine’s 2HFY24 profit. But we expect these issues to have been resolved by end-FY24E in Sep’24.
• - Read this at SGinvestors.io -

CTV fleet – a new growth segment

• Read more at SGinvestors.io.

Read also 's most recent report:
2025-02-20 Marco Polo Marine - Ready To Ride The Green Energy Wave In 2HFY25.

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

Price targets by 2 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