Carnegie has taken up coverage of Arne Fredly’s Hunter Group with a buy rating, suggesting the VLCC venture is a free option on IMO’s 2020 emissions legislation.
Analyst Marius Furuly has placed a NOK 5 per share target price on the company, which has seven scrubber-fitted VLCCs on order and options for three more.
With new laws coming in, Furuly projects a $300 per ton spread between heavy fuel oil and other marine fuels between 2020 and 2023.
