Pan Ocean Seen Expanding Portfolio as Major Energy Shipper — Market Talk

About this update from Pan Ocean Co., Ltd.

Pan Ocean is seen expanding its portfolio as a major energy shipper, Hana Securities' Dohyun Ahn says. The analyst points to the South Korean shipping company's recent purchase of 10 second-hand very large crude carriers from SK Shipping. Ahn says the vessels' existing long-term contracts will expire within two to four years, paving the way for Pan Ocean to begin full scale VLCC operations. He expects the company to sign new contracts with state utility Korea Gas to bring in more liquefied natural gas from the U.S. Ahn sees tankers and chemical carriers as major drivers of its earnings growth this year. ([email protected])

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