Pacific Shipping (02343) is now up more than 4%. As of press release, it is up 3.83% to HK$2.44, with a turnover of HK$120 million.
The Zhitong Finance App learned that Pacific Shipping (02343) is now up more than 4%. As of press release, it has risen 3.83% to HK$2.44, with a turnover of HK$120 million.
Shen Wan Hongyuan pointed out that since the Spring Festival, the BDI index has continued to exceed expectations. The BDI report was 2,345 points on March 8, with a year-to-date average of 1,710 points, an increase of 103% over the previous year. Among them, the latest Cape of Good Hope bulk carrier freight rate BCI index recorded 4,245 points, a year-on-year increase of 224%. The latest 5TC-TCE reached 35,000 US dollars/day, the highest record in the same period in history.
The bank pointed out that the market believes that this round of iron ore-driven dry bulk depends on terminal demand and steel mill profits, but in reality, the rise in iron ore shipping demand in this round is directly related to the decline in steel mill profits. The bank said that supply-side bottlenecks require attention; shipyard production capacity combined with aging fleets and rising shipping prices determines the main line.