Maridive targeting USD300mn worth of contracts for Valentine in 2020
Tarek Nadim, Maridive’s CEO, has announced that the company is expecting USD300mn worth of contract awards from Valentine Maritime during 2020. According to the article, the company is currently bidding for contracts worth USD700mn. Nadim also noted that Maridive is expecting operational improvement as it plans to increase its prices in the new contracts by c10-15%, and its utilisation rates from c70% to 90% by 2H19.
Maridive: USD0.34 as of 25 Jul 2019, Rating: Buy, TP: USD0.55/share, MCap: USD138mn, MOIL EY/MOIL.CA
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