Marco Polo Marine

Marco Polo Marine: Re-rating catalysts would come in the form of 3rd-party shipbuilding contracts for the oil & gas sector, or the purchase of an on-charter Offshore Support Vessel which can contribute immediately to earnings. Unlike other counters in the oil & gas space which have risen 20% YTD, MPM has yet to re-rate. The stock is trading at 6.2x FY13F EPS, and at 1.0x P/B which does not price in the earnings potential of this company.