Höegh Autoliners ASA (Buy, TP: NOK43.00) - USD5.4m anti-trust fine in Brazil
The car carriers’ ghost of the past returns with another anti-trust related fine announcement, this time for Höegh Autoliners in Brazil. Investigations have been ongoing since 2016, involving most major car carrier names. The fine is still disputable and rather modest for Höegh Autoliners, but we could see negativity for the sector in tomorrow’s trading. However, the news does not rock the fundamental investment case, in our view.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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