Orient Overseas Intl (316 HK): Still Not Too Late to Be Bearish

474 Views17 Feb 2023 00:00
OOIL's 4Q22 average revenue/TEU has returned to 2Q21 level. As latest spot rate plunged to early-2020 level, there is further downside to realised rate. At 0.9x P/B, valuation is not appealing.
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Osbert Tang, CFA
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