Spot charter rates pose near-term risk to MISC

The maritime logistics company posted a core net profit of RM1.03bil for the first half of financial year 2021 (FY21) – within expectations of analysts. It announced an interim dividend of 7 sen per share, which brought year-to-date dividends to 14.0 sen.( Pic shows MISC LNG tanker Camellia.)

PETALING JAYA: The short-term outlook for petroleum tanker spot rates remains challenging and this could continue to put pressure on MISC Bhd’s earnings.

This is expected to be a key external risk to MISC’s quarter-to-quarter earnings fluctuations as 28% of its petroleum shipping fleet is exposed to the spot market, according to Kenanga Research.