Iranian Ship Linked to Houthi Attacks Heads Home Amid Tensions
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
[Dow Jones] Citigroup reiterates its bullish view on Korean shipbuilders; “we view the recent price correction as an enhanced buying opportunity.” The house says unfavorable rotational buying into laggards and lingering concerns over probable steel price hikes are overshadowing resilient fundamentals, with orders skewed toward high-end vessels, such as mega-sized containers and offshore facilities, where Korean yards have “undisputed market leadership and track records.” Citigroup says it remains a buyer of Samsung Heavy (010140.SE), its top pick, and of Hyundai Heavy (009540.SE). Samsung Heavy’s target price is set at KRW59,000 and Hyundai Heavy’s target is at KRW615,000; the house rates both at Buy. Samsung Heavy is down 1.6% at KRW36,850 and Hyundai Heavy is +0.9% at KRW449,000.
<span style=”color: #888888;”><em>(c) 2011 Dow Jones & Company, Inc. </em></span>
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,979 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 105,979 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up