Small Cap Update - Precious Shipping PSL
2Q22E earnings expected to increase 88% YoY and 18% QoQ, driven by strong freight rates. Upward earnings revision in 2022- 23E by 54- 115% reflects...
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PSL: Short-Term Outlook Is Lack of Interest, but Positive for Long-Term
We downgrade PSL to HOLD rating while trim target price to Bt16.0 (Previous TP:Bt21.20) derived from 1.5xPBV’22E, Asia-ex-Japan transportation...
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PSL: Healthy Freight Rate Is Expected to Be Remained in 2022 and 2023
We anticipate TCE rate for small-medium ships (Handysize and Supramax) to stay at high profitable level throughout 2022-23E supported by an absence...
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PSL: Expect Core Earnings to Hit Another Decade High in 3Q21
We expect PSL to report 3Q21 core profit at Bt1,225m (+57%QoQ, recovery from a loss in 3Q20), the highest level in more than decade.
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Earnings Review: Precious Shipping Plc.
PSL’s earnings in 2Q21 were in line with our expectation thanks to the resumption of the TC rate, and we anticipate further improvement in 3Q21E
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