PSL: Expect Core Earnings to Hit Another Decade High in 2Q21
We expect PSL to report 2Q21 core profit at Bt598m (+60%QoQ, recovery from a loss in 2Q20), the highest level in more than decade.
176 Views
PSL: Anticipate Demand for Seaborne Trade to Slow Down in 2Q21
We downgrade PSL with SELL rating as we expect dry bulk freight rates to drop in mid 2Q21 from a high base reported in 1Q21 while anticipating the...
355 Views
PSL: Positive Outlook for Dry Bulk Carrier Market in 2021-22E
We expect the PSL’s earnings to turn positive in 4Q20 as TC rate is recovering back to above breakeven level owing to strong demand recovery after...
344 Views
PSL: Another Opportunity at the Bottom of Dry Bulk Cycle
We initiate coverage of PSL with a BUY rating, based on a target price of Bt7.10, which is derived from 1.0xPBV’21E, its 10-year average. The...
325 Views