Schroders Securities said in a research report that
it rates shares of Greek shipping company Minoan Lines perform
in line with the market, although anticipated industry activity may drive the shares to new highs. Analysts said shares were fairly valued on current fundamentals. On the issue of market consolidation, Schroders expects Minoan to continue its prudent acquisitions and not rush into consolidation
The merger of Attica Enterprises and Strintzis Shipping Lines could have a direct short-term operating impact on Minoan's north Adriatic routes but should lead to a better long-term pricing environment.
Future share price drivers are likely to come from corporate activity within the sector and the forthcoming float of Forthnet and Minoan Flying Dolphins
, Schroders said.