Belgian shipping group CMB said on Thursday it had not sold the capsize vessel Mineral Shanghai, denying a report cited earlier in an analyst note. But CMB director Ludwig Criel told Reuters the group was in talks to possibly sell another vessel, the CMB Daisy. KBC Securities said it had raised the price target of CMB to 26.5 euros from 25 euros on what it estimates are some $65 million worth of capital gains from ship sales.
"Taking into account the recent strength of the dollar and the timecharter contract on the 'Mineral Belgium' we revised our target to 26.5 euros and confirm our rating at 'outperform'," KBC Securities said in a research note.
Shares in CMB were flat at 24.30 euros at 0924 GMT.
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