CICC: Freight rates may remain high in the short term to improve the certainty of profits and dividends for shipping companies this year
Recently, freight rates have continued to rise due to continued detours in the Red Sea, increased demand for US routes, shipping companies' capacity control, and pre-May Day shipments.
Changes in Hong Kong stocks | most shipping stocks are rising, and the escalation of geographical conflicts compounded by price increases, and the European shipping index continues to reach new highs
The Zhitong Finance App learned that most shipping stocks rose. As of press release, COSCO Marine (01138) rose 4.26% to HK$9.06; Pacific Shipping (02343) rose 2.91% to HK$2.72; Sinotrans (00598) rose 1.18% to HK$4.3; and Dongfang Overseas International (00316) rose 0.95% to HK$105.9. According to news, on April 25, the main futures contract of the Shipping Index (European line) opened more than 6% higher, breaking 2,800 points at one point, continuing to hit a new high since listing. MSC, Maersk, and Dafei all drastically raised their May shipping schedules
東方海外國際:2023年報
Hong Kong Stock Afternoon Review | The three major indices rose, and the Tech Index rose nearly 2%; TechNet stocks performed brilliantly; Meituan and Tencent rose nearly 5%
Gold stocks generally fell; Shandong Gold and Zhaojin Mining fell more than 6%; shipping stocks rose one after another; Pacific Shipping rose more than 5%, and Oriental Overseas International rose more than 3%.
Intraday Overview | The three major indices all rose more than 2%! Tencent and Meituan increased by about 5%
TechNet stocks strengthened, with Kuaishou, JD, and NetEase up about 4%, and Bilibili and Alibaba about 3%.
Changes in Hong Kong stocks | Shipping stocks continue their recent gains. Shipping companies collectively announced price increases in May, and the actual results of implementation remain to be seen
Shipping stocks continued their recent gains. As of press release, Pacific Shipping (02343.HK) rose 3.83% to HK$2.71; Orient Overseas International (00316.HK) rose 3.82% to HK$106; COSCO Marine Holdings (01919.HK) rose 3.15% to HK$9.18; and Haifeng International (01308.HK) rose 2.04% to HK$16.02.
Most Hong Kong shipping stocks rose, Oriental Overseas International rose nearly 4%
As of press release, Oriental Overseas International is up 3.92%, Pacific Shipping is up 3.83%, COSCO Marine is up 3.27%, and Sinotrans is up 2.98%.
The situation in the Middle East has once again become the focus of the market. Pacific Shipping surged more than 9% to lead the sector
① What is the current state of the conflict between Israel and Iran? ② What is the reason for the surge in Pacific Shipping?
Hong Kong Stock Afternoon Review | The three major indices fell sharply, auto stocks fell, and Ideal Auto fell by more than 7%
Technology and network stocks generally fell; Xiaomi fell more than 4%, Meituan fell nearly 4%; shipping stocks rose higher, Pacific Shipping rose more than 9%, and COSCO Haineng rose more than 5%.
Intraday Overview | The three major indices fell sharply, and the technical index fell nearly 3%; oil and shipping stocks rose against the market
Technology and network stocks generally fell; Meituan fell nearly 5%, Xiaomi fell more than 4%, and Ali fell nearly 3%; automobile stocks had the highest declines, with Ideal and Xiaopeng falling nearly 7%.
Changes in Hong Kong stocks | Dongfang Overseas International (00316.HK) rose more than 4%, leading the way forward, the situation in the Middle East, once again escalated, European shipping soared by more than 15% to reach a new listing high
Shipping stocks generally rose in early trading. As of press release, Dongfang Overseas International (00316.HK) rose 3.48% to HK$101.2; COSCO Maritime Control (01919.HK) rose 3.36% to HK$8.93; and Sinotrans (00598.HK) rose 1.24% to HK$4.07. Additionally, Pacific Shipping (02343.HK) rose 8.26% to HK$2.62; COSCO Marine (01138.HK) rose 5.21% to HK$9.08.
Hong Kong stocks and shipping stocks rose against the market. Pacific Shipping rose more than 7%, while COSCO Marine Energy, COSCO Maritime Control, and Orient Overseas International rose at the same time.
Hong Kong stocks and shipping stocks rose against the market. Pacific Shipping rose more than 7%, while COSCO Marine Energy, COSCO Maritime Control, and Orient Overseas International rose at the same time.
Bank Ratings | J.P. Morgan Chase: Maintaining Dongfang Overseas's “Accumulation” Rating Valuation Is Still Attractive
According to a report published by J.P. Morgan Chase, there are no highlights in Oriental Overseas International's latest performance and dividends, but the favorable factors brought about by the recent route readjustment caused by the Red Sea have not penetrated, and the attractive supply and demand relationship in the industry supports the recovery of spot freight rates when the continuous container demand trend is better than expected. Meanwhile, the escalation of the Middle East crisis has exacerbated global supply chain chaos, further limiting capacity. Furthermore, under uncertain macroeconomic prospects, the Group's healthy balance sheet and non-interest-bearing debt have also brought some relief to market sentiment. The bank lowered Orient Overseas's target price from HK$165 to HK$145, believing it
IQAX EBL Wins Prestigious APTFF Trade Facilitation Innovation Award 2024
HONG KONG, April 18, 2024 /PRNewswire/ -- IQAX is pleased to announce that its IQAX eBL solution has won the APTFF Trade Facilitation Innovation Award for 2024. As a leader in digital trade solutions,
Changes in Hong Kong stocks | Dongfang Overseas International (00316.HK) is now up more than 4%, first-quarter revenue of US$1.98 billion, and container freight prices are recovering steadily after the holiday
Dongfang Overseas International (00316.HK) is now up more than 4%. As of press release, it is up 3.99% to HK$97.65, with a turnover of HK$447.15,700.
Xiaomo: Target price for Dongfang Overseas International (00316) “Plus” rating reduced to HK$145
The Zhitong Finance App learned that J.P. Morgan Chase released a research report stating that the target price was reduced by 12% from HK$165 to HK$145 for Oriental Overseas (00316). Considering OCW's operations in the second half of 2023 and the first quarter of 2024, J.P. Morgan believes that although the latest performance and dividend decisions are not impressive, OCEC's valuation is still attractive. The bank said that Orient Overseas International's revenue for the first quarter of this year increased by 21.9% compared to the previous quarter. Mainly due to the increase in comprehensive freight rates under the Red Sea situation. Also, spot freight rates have stabilized and are expected to rise.
Changes in Hong Kong stocks | Dongfang Overseas International (00316) fell more than 4% in the afternoon, and total revenue for the first quarter decreased 9% year on year. Institutions say they are concerned about the implementation of price increases
Oriental Overseas International (00316) fell by more than 4% in the afternoon. As of press release, it was down 4.15% to HK$94.65, with a turnover of HK$784.277 million.
Orient Overseas (International) Revenues Decline 9.0% in Q1 of 2024
Orient Overseas (International) (HKG:0316) earned $1.98 billion in revenues for the first quarter of 2024, down 9.0% from $2.18 billion in the same period a year ago, according to a Friday filing on t
Selected announcements | Zhaojin Mining plans to raise a total of HK$1,742 billion; Chow Tai Fook's retail sales increased 12.4% year-on-year in the first three months
CRRC: Net profit increased by 50%-70% in the first quarter; Zhaojin Mining: Net profit increased 124% in the first quarter.
Oriental Overseas International (00316.HK): Total revenue for the first quarter decreased 9% year-on-year to US$1.98 billion
On April 12, GLONGHUI | Dongfang Overseas International (00316.HK) announced that total revenue for the first quarter ended March 31, 2024 decreased by 9.0% compared to the same period last year to US$1.98 billion. Total cargo volume increased by 3.4%, and carrying capacity increased by 2.2%. The overall carrying rate increased by 0.9% compared to the same period in 2023, and the overall average revenue per TEU decreased by 12.0% compared to the first quarter of last year.
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