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5 cts otot.........
very slow this one
Good start today. Hope we have good news coming soon.
hopeful7703 ( Date: 31-Aug-2021 16:02) Posted:
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Continue to ' buy' Marco Polo Marine as it ventures into renewable energy: RHB
RHB&rsquo s small cap Asean research team is maintaining its &lsquo buy&rsquo call and target price of 4.1 cents on Marco Polo Marine.
This is expected to give the counter a 33% upside from its current 3 cent price, analyst Jarick Seet writes in an Aug 31 note.
His move comes as the group&rsquo s revenue for 9MFY21 ending in September has already exceeded that logged in FY2020 thanks to strong growth in its ship chartering and repair activities.
The group&rsquo s average utilisation and charter rates have also recovered to above pre-Covid-19 levels.
&ldquo We remain confident of a turnaround to profitability by the end of FY2021. We look forward to Marco Polo Marine securing more contracts in the renewable energy sector, which the company is pivoting towards,&rdquo says Seet.
The group has been actively seeking out opportunities in renewable energy. As at end 1H21, 20% of its utilised vessels were working on offshore windfarm projects in Taiwan.
The way Seet sees it the Marco Polo Marine has an edge since the ages of its ships are less than 12 years and its vessels are more than well equipped given the more stringent requirements imposed for offshore oil and gas activities.
The group&rsquo s ships are also not made in China &ndash a requirement that must be adhered to by vessels working on Taiwan windfarm projects.
By contrast, most of the offshore vessels in the region are above 12 years old and are built in China.
Seet believes the group will expand its operations in Taiwan and possibly look to double its chartering fleet there by end 2Q2022. Thereafter, he expects the utilisation rate of the group&rsquo s chartering fleet &ndash which stands at around 60% - to rise to about 80% in 2H22.
This will bode well for Marco Polo Marine as the sector sees an influx of investments, notes Seet. He adds that the group&rsquo s plans will see a lift in its charter rates, and in turn its margins and profitability.
Meanwhile, the group&rsquo s shipyard division has been seeing strong growth following the resumption of oil & gas globally as well its foray into renewable energy.
As of 3QFY21, the company&rsquo s utilisation for its shipyard has surged to 94% and is expected to remain busy till the end of the year.
Seet points out that the oil & gas sector has been recovering since the oil price slump between 2014 and 2016.
The WTI crude prices has already reached around US$68/bbl, even as the sector took a hit from the pandemic.
Seet observes that oil & gas activities are gradually picking up as the world recovers from the pandemic.
&ldquo We believe the continued recovery will be positive for Marco Polo Marine across all its business segments,&rdquo he stresses.
As at 12.32pm, Marco Polo Marine was trading flat at 2.6 cents.
Marco Polo Marine 9M revenue outpaces its full year revenue last year
INTEGRATED marine logistics company Marco Polo Marine' s revenue for the nine months ended June 30 has since outpaced its FY2020 full-year revenue of S$30.8 million, driven by strength in both shipyard and ship chartering segments.
In a voluntary operational update filed on Monday, Marco Polo Marine said its average utilisation and charter rates for vessels has recovered to above pre-Covid levels.
The group' s shipyard operations has " remained busy" with strong demand for ship repairs, benefitting from a widening customer base as well as an increased market share, it noted.
So far, about 80 per cent of its three dry docks are used. Marco Polo Marine is currently extending its Dry Dock 1 to boost its ship repair capacity by up to 20 per cent. The dock will be extended to 240m, from 150m previously.
Construction of the extension will be completed by January next year, in time to contribute to the group' s second quarter FY2022 results.
Its ship chartering segment has benefited from rising oil prices and increased demand for offshore vessel support. Marco Polo Marine saw growth in utilisation rate and average charter rates for its vessels - which have both surpassed pre-Covid-19 levels - throughout the third quarter, it said.
Chief executive Sean Lee said in a statement that the team is " cautiously optimistic" for the quarter and year to come. This is considering the macroeconomy, consumer demand and energy prices might all continue to " improve and create a favorable operating landscape for our organisation," he said
Although the recent resurgence of Covid-19 in its key markets such as Indonesia and Taiwan poses potential risks to operations, Mr Lee added that the impact of operational performance has been " minimal" .
Marco Polo Marine said it will continue to explore opportunities to support the offshore wind farm market in the next year.
Marco Polo Marine 9M revenue outpaces its full year revenue last year
Integrated marine logistics company Marco Polo Marine' s revenue for the nine months ended June 30 has since outpaced its FY2020 full-year revenue of S$30.8 million, driven by strength in both shipyard and ship chartering segments.In a voluntary operational update filed on Monday, Marco Polo Marine said its average utilisation and charter rates for vessels has recovered to above pre-Covid levels.
The group' s shipyard operations has " remained busy" with strong demand for ship repairs, benefitting from a widening customer base as well as an increased market share, it noted.
So far, about 80 per cent of its three dry docks are used. Marco Polo Marine is currently extending its Dry Dock 1 to boost its ship repair capacity by up to 20 per cent. The dock will be extended to 240m, from 150m previously.
Construction of the extension will be completed by January next year, in time to contribute to the group' s second quarter FY2022 results.
Its ship chartering segment has benefited from rising oil prices and increased demand for offshore vessel support. Marco Polo Marine saw growth in utilisation rate and average charter rates for its vessels - which have both surpassed pre-Covid-19 levels - throughout the third quarter, it said.
Chief executive Sean Lee said in a statement that the team is " cautiously optimistic" for the quarter and year to come. This is considering the macroeconomy, consumer demand and energy prices might all continue to " improve and create a favorable operating landscape for our organisation," he said
Although the recent resurgence of Covid-19 in its key markets such as Indonesia and Taiwan poses potential risks to operations, Mr Lee added that the impact of operational performance has been " minimal" .
Marco Polo Marine said it will continue to explore opportunities to support the offshore wind farm market in the next year.
Shares of Marco Polo Marine fell 0.2 Singapore cents, or 7.4 per cent, to close at S$0.025 on Monday.
For Immediate Release
Marco Polo Marine Grows Operational Performance For Both Shipyard and Ship Chartering in 3QFY2021
9MFY2021 Revenue already exceeds FY2020 full year revenue driven by strength in both shipyard and ship chartering segments
Average utilisation and charter rates for vessels have recovered to above preCOVID levels
Shipyard remains busy till year end with 3QFY21 utilisation at 94%
SINGAPORE, 16 August 2021 &ndash Marco Polo Marine Ltd. and together with its subsidiaries, a reputable regional integrated marine logistics company, today announced a voluntary operational update for the financial quarter ended 30 June 2021(3QFY202)
Despite the ongoing pandemic, the company saw enhanced operational performance for both its shipyard and ship chartering segments. To date, revenue has already exceeded the company&rsquo s FY2020 performance.
https://links.sgx.com/1.0.0/corporate-announcements/CTUQ5NM0P1UB4VKY/679120_Marco%20Polo%20Marine%20-%203QFY2021%20Business%20Update.pdf
Marco Polo Marine Grows Operational Performance For Both Shipyard and Ship Chartering in 3QFY2021
9MFY2021 Revenue already exceeds FY2020 full year revenue driven by strength in both shipyard and ship chartering segments
Average utilisation and charter rates for vessels have recovered to above preCOVID levels
Shipyard remains busy till year end with 3QFY21 utilisation at 94%
SINGAPORE, 16 August 2021 &ndash Marco Polo Marine Ltd. and together with its subsidiaries, a reputable regional integrated marine logistics company, today announced a voluntary operational update for the financial quarter ended 30 June 2021(3QFY202)
Despite the ongoing pandemic, the company saw enhanced operational performance for both its shipyard and ship chartering segments. To date, revenue has already exceeded the company&rsquo s FY2020 performance.
https://links.sgx.com/1.0.0/corporate-announcements/CTUQ5NM0P1UB4VKY/679120_Marco%20Polo%20Marine%20-%203QFY2021%20Business%20Update.pdf
Hopefully a strong quarter is able to push it above 3 cents.
spursfan ( Date: 14-Jul-2021 08:37) Posted:
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Marco Polo Marine gets a ' buy' amid strong tailwinds in charter rates and vessel utilisation
UOB Kay Hian (UOBKH) is maintaining its " buy" call on Marco Polo Marine (MPM), but at revised target price of 3.6 cents.
This is up 1.6 cents from their previous 2 cent call and is believed to give the counter an upside of 28.6%, analyst Clement Ho explains in a July 14 note.
His move follows the resilience seen in the rationalised oil & gas offshore support industry throughout the pandemic.
This is the result of minimal newbuilds, more vessels on lay ups and stronger demand in the infrastructure and renewable energy sectors in Southeast Asia, says Ho.
These developments bode well for the integrated marine logistics provider who saw its revenue rise by 13.8% y-o-y to $21.1 million in 1HFY2021 ended March thanks to the commencement of two new construction projects under its ship building division and increased ship repair jobs.
Overall, its core EBITDA (earnings before interest, taxes, depreciation and ammortisation) jumped by 88% y-o-y to $4.0 million in its 1HFY2021.
Ho' s liking for MPM stems from its lean operations following the completion of its corporate restructuring efforts.
So far, the company' s shift towards renewable energy has been successful with close to 20% of its charter fleet supporting offshore windfarm projects in the Asia Pacific region.
" The diversification provides a new utilisation base for MPM' s vessels, particularly on the growing demand specifically from the offshore wind energy industry in Asia, which is in its nascent stage where structures are installed in shallow waters with depth of up to 50-60m," notes Ho.
MPM' s rig utilisation and day rates are also set to improve as crude oil prices rise, adds Ho.
In the past six months, the Brent forward oil price for delivery in end-25 has risen 23% from US$48 ($65.07) per barrel to US$59 per barrel.
This " is a strong reflection that more projects should come on stream due to decent project IRRs thus being in favour of the increasing oil industry capex," Ho explains.
Against this backdrop, Ho believes that MPM' s margins should remain positive due to improved sector dynamics after the 2014 oil crisis and effective cost control.
He is also expecting a growing source of stable recurring income from MPM' s ship repair business, with most of its business coming from repeat customers.
Aside from the improvements seen in the industry, Ho says the company' s recent 20% expansion in its ship repair site in mid-June " is a strong signal" of a possible increase in workload.
Historically, the ship repairs segment has seen revenue increasing at a steady pace from an average of 49% in 2HFY2017-2HFY2019 to 57% in 1HFY2020-1HFY2021.
In the most recent 1HFY2021 revenue from the ship repairs business grew by 37% y-o-y thanks to a shift in repair works away from the Singapore yards due to the relatively higher costs.
The combination of improving charter rates, better vessel utilisation rates and an already-impaired book value of 3 cents/share values MPM at 1.1x FY2022 price-to-book (P/B) value.
This is supported by the anticipated rise in core EBITDA from S$5m in FY2021 to $13 million in FY2023, or a 15% CAGR over the 2-year period, notes Ho.
MPM is currently trading at 0.87x FY22F P/B.
As at 10.56am, shares in MPM were down 0.1 cents or 3.44% to 2.8 cents.
what ' s up with marco . up four pips yesterday with heavy vol, usually the most is up 2pips in a session. will it break 3cts today?
Q at 26 to collect for those contra selling tdy from 26/27
Yes he buy 5.5M shares at 2.5c.....hope tomorrow can lean support to share price back to 3.c series...
spursfan ( Date: 01-Jul-2021 17:37) Posted:
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at least SSH bought some shares from open market after few days of heavy sell down.
https://links.sgx.com/1.0.0/corporate-announcements/HOPK6ZAAPF8YF7A5/673298__Lee%20Wan%20Tang%20Form%203.pdf
https://links.sgx.com/1.0.0/corporate-announcements/HOPK6ZAAPF8YF7A5/673298__Lee%20Wan%20Tang%20Form%203.pdf
Is it time to buy again at a good supporters price ?
SmallSmall ( Date: 17-Jun-2021 10:38) Posted:
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Why this shipyard good volume price remain stagnant ? steel and copper price dropped alot good for shipyard..
ysh2006 ( Date: 22-Jun-2021 18:04) Posted:
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So far last three day didn't see any pump so no dump already...slowly go up trend..
fighting ( Date: 18-Jun-2021 11:49) Posted:
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This counter usually pump and dump, but now pump and stay. Seems like accumulation, more to come soon....
Why exercise warrant out of money warrant....buy from market cheaper....
akp1982 ( Date: 17-Jun-2021 15:45) Posted:
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Sorry I' m new to warrant and I have some in CDP.
May I know if I exercise the warrant at $0.035 - means pay $0.035 to convert to ordinary share no matter what' s the market price of stock and warrant?
Am I right?
Thanks.
May I know if I exercise the warrant at $0.035 - means pay $0.035 to convert to ordinary share no matter what' s the market price of stock and warrant?
Am I right?
Thanks.
SmallSmall ( Date: 16-Jun-2021 14:20) Posted:
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0.03 --
nice analyst coverage once again
if oil stays high, this net cash company will retest its IPO price of 40c
Favourable risk reward ratio
gd luck dyodd
nice analyst coverage once again
if oil stays high, this net cash company will retest its IPO price of 40c
Favourable risk reward ratio
gd luck dyodd