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Sinopec Kantons Oil-Terminal Throughput Likely to Have Strong 2H Recovery -- Market Talk

Sinopec Kantons Oil-Terminal Throughput Likely to Have Strong 2H Recovery -- Market Talk

中石化冠德石油终端产能可能出现强劲的2H回升--市场谈话
Dow Jones Newswires ·  2020/07/07 03:41

DJ Sinopec Kantons Oil-Terminal Throughput Likely to Have Strong 2H Recovery -- Market Talk

DJ中石化冠德石油终端产能可能出现强劲的2H回升--市场谈话

0741 GMT - Sinopec Kantons's oil-terminal throughput could have a strong recovery in 2H as more very-large-crude-carriers need to offload floating oil storage, Daiwa Capital says, as it raises its target price to HK$4.20 from HK$3.70 while saying its valuation is "unjustifiably low." Demand for Kantons's oil berths dived in March and April due to the pandemic but the Chinese company expects July's throughput to further improve on month, Daiwa says, adding China's strong refinery production supports high oil imports. Besides, Kantons's storage facility in Fujairah, UAE, stands to benefit from an oil-supply glut, where full occupancy has pushed rents higher. Daiwa raises its EPS forecast for 2020-2021 by 1.3% and keeps a buy rating. Shares fall 1.1% to HK$3.46. (clarence.leong@wsj.com)

0741GMT-大和资本(Daiwa Capital)表示，随着更多超大型原油运输船需要卸载浮式储油库，中石化冠东的石油码头吞吐量可能会在下半年强劲复苏。该公司将目标价从3.70港元上调至4.20港元，同时表示其估值“低得不合理”。大和表示，由于大流行，对坎通石油泊位的需求在3月和4月大幅下降，但这家中国公司预计7月份的吞吐量将比上月进一步改善，并补充称，中国强劲的炼油厂产量支持了高石油进口。此外，Kantons位于阿联酋富贾伊拉(Fujairah)的储存设施将受益于石油供应过剩，那里的全部入住率推高了租金。(投行观点)大和将2020-2021年EPS预估上调1.3%，维持买入评级股价跌1.1%，报3.46港元。(clarence.leong@wsj.com)

(END) Dow Jones Newswires

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July 07, 2020 03:41 ET (07:41 GMT)

2020年7月7日东部时间03：41(格林尼治标准时间07：41)

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