ABGSC Shipping Daily 10 July

ABGSC Shipping Daily 9 July

Q2 guidance beat on tape

ABGSC Shipping Daily 7 July

ABGSC Shipping Daily 1 July

ABGSC Shipping Daily 30 June

ABGSC Shipping Daily 23 June

ABGSC Shipping Daily 16 June

ABGSC Shipping Daily 10 June

Net rate for May implies 18% upside to Q2'25e

ABGSC Shipping Daily 2 June

ABGSC Shipping Daily 26 May

ABGSC Shipping Daily 19 May

ABGSC Shipping Daily 12 May

Klaveness Combination Carriers (Buy, TP: NOK109.00) - Business case st...

We consider the weaker-than-expected Q2 guidance a ‘bump in the road’, and expect trading performance to improve into H2. We thus see limited changes to the long-term investment case. Further, the company remains mostly spot-exposed on its tanker capacity, which we find supportive given our constructive outlook on the segment with plenty of potential catalysts. Hence, we reiterate our BUY, but have lowered our target price to NOK109 (112).

Net rate for April implies 9% upside to Q2'25e

Lower for Q2'25e, but attractive at 0.63x P/NAV

Q1 EBITDA in line, miss on DPS and soft Q2 guidance

ABGSC Shipping Daily 5 May

Klaveness Combination Carriers (Buy, TP: NOK112.00) - Set for tanker t...

In our view, KCC’s business model is looking increasingly attractive amid macroeconomic uncertainty and more stringent fuel regulations. Furthermore, it maintains exposure to what we consider favourable tanker markets with potential positive catalysts (e.g. successful enforcement of sanctions and increasing OPEC+ volumes), while the market concerns about potential reversals of initially positive disruptions seem overdone. We reiterate our BUY, but have cut our target price to NOK112 (125).