PACC Offshore: Secures Prelude floatel job
- operations for the charter may only begin in Mar 2017.
- OCBC estimates that the charter rate would be higher than the .US$125k/day rate for the POSH Xanadu in Brazil, but operating costs are also likely to be high in Australia.
- Looking ahead, pressure on charter rates and vessel utilization will continue to weigh on the group.
- It may also take some time before POSH can see a boost in earnings from POSH Arcadia, unless it secures work prior to Mar 2017.
- OCBC maintains Hold with TP of $0.35.
No comments:
Post a Comment