Nam Cheong's Fleet Expansion, Higher Utilization May Drive Earnings -- Market Talk

Dow Jones

02/02

0652 GMT - Nam Cheong's earnings visibility is poised to be driven by fleet expansion and higher fleet utilization, CGS International analysts say in a research report. The Singapore-listed offshore marine group is building six vessels that will bring total vessel count to 42 by end-2026, which could add more annual revenue, the analyst says. There's also room for the company's fleet utilization to increase to 68% in 2026 and 70% in 2027 from 65% in 2025 as vessels that progressively commenced long-term contracts in 2025 see higher activity. The brokerage initiates coverage of the stock with an add rating and a target price of S$1.87. Shares are 5.0% higher at S$1.25. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 02, 2026 01:52 ET (06:52 GMT)

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(ronnie.harui@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 02, 2026 01:52 ET (06:52 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6065","symbol_name":"建筑机械与重型卡车","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2608183007","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2608183007","pubTimestamp":1770015120,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0652 GMT - Nam Cheong's earnings visibility is poised to be driven by fleet expansion and higher fleet utilization, CGS International analysts say in a research report. 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