＜Research＞HSBC Global Research Expects Spot Container Freight Rates to Keep Rising Until End-3Q, Rates Maersk/ Evergreen Marine/ SITC Buy

　　HSBC Global Research, in its Global Shipping Industry Report, commented that spot container freight rates will continue to rise at least until the end of 3Q24 on the back of strong demand, Red Sea route disruptions and port congestion. Demand for air cargo will remain stable in 2H24, driven by e-commerce freight in the typical 4Q24 peak season.

　　HSBC said with capital expenditure on new vessel orders almost complete, most container shipping companies remain in a net cash position, and the broker believed proceeds of this year's freight rate increases may be returned to shareholders. The broker is also positive on DHL's e-commerce-driven business portfolio, which will benefit from outbound e-commerce in Asia.

　　HSBC rated DHL, Maersk, Evergreen Marine and SITC (01308.HK) -0.960 (-4.638%) Short selling $24.14M; Ratio 29.914% Buy with unchanged target prices of EUR48, DKK15,000, TWD240 and HKD25 respectively.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-05 16:25.)

　　AAStocks Financial News