[公用事业] 20080714-Goldman Sachs-Precious Shipping (PSL.BK)

Neutral
Fine tuning opex estimates
Changes and Implications
We have updated our earnings model with fine tuned opex estimates
reflecting higher fuel cost expectations. We do not view these changes as
material, and there is no change to our investment thesis, rating or price
target.
For methodology and risks associated with our price target, please see our
previously published research.