Pacific Shipping (02343) fell nearly 6%. As of press release, it was down 5.82% to HK$2.75, with a turnover of HK$44.2486 million.
The Zhitong Finance App learned that Pacific Shipping (02343) fell nearly 6%. As of press release, it fell 5.82% to HK$2.75, with a turnover of HK$44.2486 million.
According to the news, the Baltic Sea Dry Bulk Freight Price Index fell for the fifth consecutive trading day on Wednesday due to lower freight rates for various types of ships. The Baltic Sea Dry Bulk Freight Price Index fell 104 points, or 5.22%, to 1,889 points, the biggest one-day decline since April 23. The cape-type shipping price index fell 232 points, or 7.92%, to 2,699 points, the lowest level in nearly two weeks.
According to HSBC Global Research, the investment rating for Pacific Shipping was lowered to “reduced holdings”, and the target price was also lowered to HK$2.55. The rise in BDI driven by Cape of Good Hope shipping rates will slow down. There is a difference between the stock's stock price in 2021 due to the increase in freight rates for lightweight extreme and lightweight vessels. The bank believes that limited room for upward shipping rates, the risk of declining demand and increased ship supply will lay the groundwork for the risk that profits fall short of expectations and downside in performance forecasts for the first half of the year.