On March 11, some shipping stocks strengthened, with The Pacific Securities Co.Ltd(601099) shipping up nearly 6%, Cosco Shipping Energy Transportation Co.Ltd(600026) up 2.4% and Cosco Shipping Holdings Co.Ltd(601919) up 1.6%.
The Baltic dry bulk freight index rose 5.71% on Thursday to its highest level in nearly three months as all ship types rose. The Capesize Index rose 331 points, or 14.5%, to 2613, the highest since December 21 last year. The average daily profit of Cape ships increased by US $2740 to US $21668. Panamax freight index rose 39 points to 3233 points, the highest since December 7. Panamax’s average daily profit rose $353 to $29097. The super handy ship freight rate index rose 78 points to the highest 2923 points in more than four months.
In addition, Daiwa raised the target price of The Pacific Securities Co.Ltd(601099) shipping to HK $4.75 and rated “buy”. The bank said that The Pacific Securities Co.Ltd(601099) shipping currently has limited business in Russia and Ukraine, while the recent military action has increased Atlantic China Welding Consumables Inc(600558) market pressure, The Pacific Securities Co.Ltd(601099) market has a positive response, freight rates have increased, and the management also expects a relatively positive impact in the short termcenter>
