The division was again the bright spot for the company in the three months to the end of 2015, recording improved numbers for the eighth consecutive quarter, Danske Bank says.
“The improvement has been driven by lower bunker costs, continual positive COA [contract-of-affreightment] renewals by the company and a strong CPP [clean petroleum products] market,” said analyst Bjorn Kristian Roed.
“While management is cautious on the outlook, we remain upbeat on the demand side for chemical tankers and see this development as the key catalyst for lifting the stock from the current depressed valuation.”
Stolt
