[EQUITIES] ‘Hyundai Mipo to pick up on MR tankers’
Hyundai Mipo Dockyard’s prospects for winning new orders are bright, said SK Securities on Feb. 12, maintaining a “buy” recommendation and raising the target price to 158,000 won (US$145.81) from 125,000 won.
It won orders for five vessels in December last year and the rise of medium-range tankers charterage contracts confirms the momentum, said analyst Yoo Seung-woo.
Medium range tanker is its flagship model and as it raises prices and continues to win more orders, it will manage to offset the decline of exchange rate and rise of steel materials, which dragged down the shipbuilder in the fourth quarter last year with 37 billion won operating loss, added the analyst.
By Hwang You-mee (firstname.lastname@example.org)