MISC sees recovery next year on petroleum tanker segment

Following a recent engagement with MISC’s group chief executive officer, AmInvestment said it is maintaining its “buy” call on the stock with an unchanged sum-of-parts-based fair value of RM7.75. (File pic shows MISC's LNG tanker Camellia.)

KUALA LUMPUR: MISC Bhd is eyeing a recovery next year on expects that the Organisation of the Petroleum Exporting Countries (Opec) will raise production quotas in tandem with rising global consumption.

The management is cautiously optimistic on petroleum tanker rates, which have doubled year-on-year (y-o-y) to US$11,000 (RM46,337.50) per day for Suezmax and risen 76% y-o-y to US$8,800 (RM37,070) a day for Aframax.