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Veem Ltd ( (AU:VEE) ) has shared an update.
VEEM Limited has launched its most efficient propulsion system, the VEEM Extreme propulsion package, which promises up to 18.1% fuel efficiency gains. The package includes a propeller, twisted rudder, and shaft line made from a proprietary high-tensile alloy, offering significant improvements in fuel consumption, speed, and carbon footprint. The system has been tested by Lloyd’s Register, and early adoption by Manly Fast Ferries indicates strong market interest, with plans to convert additional vessels to the new system.
The most recent analyst rating on (AU:VEE) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Veem Ltd stock, see the AU:VEE Stock Forecast page.
More about Veem Ltd
VEEM Limited operates in the marine industry, specializing in the production of advanced propulsion systems. The company focuses on delivering high-efficiency propulsion solutions, including propellers, rudders, and shaft line packages, primarily for marine vessels.
Average Trading Volume: 373,640
Technical Sentiment Signal: Buy
Current Market Cap: A$195.6M
See more data about VEE stock on TipRanks’ Stock Analysis page.