Songa Bulk is set to turn a profit already from the fourth quarter and will also have the capacity to pay dividends from early 2018, Clarksons Platou Securities says.
The broker has reiterated its “buy” recommendation on the bulker owner and lifted the target price to $7.50 per share.
In a meeting with Clarksons Platou on Thursday, Songa’s chief executive Herman Billung said there is a potential for 10% to 15% higher asset prices near term, and possibly 40% to 50% higher values in 2018.
