MPC Container Ships (Buy, TP: NOK7.40) - Fleet employment in focus
Feeder TCE rates are being quoted at USD13.7k/day, a recent high, driven by vessel shortages, supply disruptions and a shift in consumer behaviour. Ahead of the Q4 results, due prior to market open on 26 February, we reiterate our BUY and have lifted our target price to NOK7.4 (5.9), but remain cautious about extrapolating the current market strength too far into 2021.
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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