SINGAPORE (June 21): NRA Capital is maintaining its “overweight” call on shipowner and charterer Uni-Asia Group with a fair value of $1.85 on improvement in dry bulk shipping.
“We see heightened global infrastructure spending under China’s One Belt One Road (OBOR) policy as a potential catalyst that will support the ongoing recovery in the dry bulk sector,” says analyst Liu Jinshu in a Wednesday report.
With some 900 projects worth US$890 billion under way or planned, dry bulk shippers will benefit, thanks to demand for infrastructure-related resources such as iron ore.
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