Marco Polo Marine's Earnings Set to Stay Strong on Vessel Demand, New Clients -- Market Talk

Dow Jones02-20

0255 GMT - Marco Polo Marine's earnings are poised to stay strong, thanks to solid chartering demand for offshore-support-vessels and new clients for its shipyard division, RHB Research analyst Alfie Yeo says in a research report. The Singapore-listed integrated marine logistic group is also in a 'sweet spot' to deploy and operate its first commissioning service operation vessel by the end of FY 2024 amid a short supply of such vessels, the analyst says. The company's ship chartering business continues to support offshore oil and gas projects, as well as wind farms, with OSV charter rates likely to stay buoyant, the analyst adds. RHB raises its target price for the stock to S$0.073 from S$0.067 with an unchanged buy rating. Shares are unchanged at S$0.055.(ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 19, 2024 21:55 ET (02:55 GMT)

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