- 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.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-10-07
Previous report by :
2024-09-16 Marco Polo Marine - Deeply Undervalued .
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 Dividends & Corporate Actions,
Marco Polo Marine News Articles
