Marco Polo Marine's New Arrangement May Lift Earnings -- Market Talk

Dow Jones04-09

0330 GMT - Marco Polo Marine's earnings are likely to increase between 8% and 10% over FY 2025-FY 2026 thanks to a recent crew transfer vessel arrangement with wind turbine manufacturer Siemens Gamesa, RHB Research analyst Alfie Yeo says in a note. The Singapore-listed integrated marine logistic group may add two vessels to its fleet by FY 2026 due to the arrangement, Yeo reckons. Under the arrangement, Marco Polo Marine will supply crew transfer vessels to Siemens Gamesa for its offshore wind projects in South Korea and Taiwan from 2024 to 2026, Yeo notes. RHB maintains its buy rating on the stock and raises the target to S$0.081 from S$0.073. The stock is unchanged at S$0.07.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

April 08, 2024 23:30 ET (03:30 GMT)

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