Broker snap: Results ahoy for shipping issues

5th Mar 2010 12:00

Last year was a difficult one for the shipping sector, hit by the recession, low freight rates and overcapacity, but Charles Stanley sees more optimism in 2010.Volatility looks set to continue, it says, with Chinese demand and infrastructure spending likely to determine the outcome for the dry bulk sector.But the impact of the cold winter and declining oil stocks has stimulated the tankers market, while better conditions are anticipated for the containers business.Charles Stanley has an 'add' rating on Braemar Shipping with 530p target price, the same rating and 954p target for Clarkson, while Goldenport is a 'buy' with 141p target.UK-listed Braemar Shipping enters its close period ahead of full-year results in May and Clarkson is due to announce final results on 11 March, which "should herald further outperformance"