Today, Marco Polo Marine's share price rose significantly on the back of much higher volume and the recent visit by a group of investors to the company's yard in Batam could have something to do with it:
Last week, we brought a group of investors to MPM’s Batam yard. We saw all three drydocks busy with repair operations, and the construction of a third-party 8,000bhp AHTS vessel and two similar vessels for its own fleet. In preparation for better shipbuilding times, a new slipway is almost complete. Investors were most interested in the company’s 20% net margins.
MPM and associate PT BBR are on the cusp of renewing their AHTS charters, with current contracts expiring in September to November. With AHTS supply still trailing far demand in Indonesia, we are highly confident that each vessel will be re-chartered immediately at prevailing market rates, which are 33% higher.
Source: OSK-DMG, 25 Sep 2013
Good things come to those who wait.
Related post:
Marco Polo Marine: Will FY2013 better FY2012?
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