0635 GMT - Marco Polo Marine's larger fleet size and shipyard capacity are poised to drive earnings growth, RHB Research's Alfie Yeo says in a research report. Its fleet size is expected to increase, with the marine logistics company adding three new vessels to its fleet for Siemens Gamesa's offshore wind projects in Taiwan and South Korea from 2024 to 2026, the analyst says. In the shipyard segment, Marco Polo Marine's fourth dry dock is slated for completion in 1H FY 2025, increasing capacity for ship repairs, the analyst says. The company's earnings should also be supported by ship chartering, driven by factors including better utilization, says RHB, which maintains the stock's buy rating and target price of S$0.08. Shares are 1.85% higher at S$0.055. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 01:35 ET (06:35 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.