Zhitong Financial APP learned that$Pacific Shipping (02343.HK) $It opened high and walked high during the day, up more than 6% at midday. The agency said that the marginal improvement in demand for short-term dry bulk shipments is expected to increase and lead to the stabilization of freight rates. Earlier, Daiwa raised its profit forecast to reflect a recovery in the dry bulk market. As of press time, Pacific Shipping rose 6.60% to HK $3.07, with a turnover of HK $119 million.

On August 10, the Galaxy Futures Shipping Daily said that overall, the marginal improvement in demand for short-term dry bulk shipments is expected to increase and lead to the stabilization of freight rates. Starting from August 10, the EU coal ban on Russia is expected to come into effect, and EU demand for Australian coal and Indonesian coal routes is expected to continue to increase in the future. Recently, steel mill profits have recovered and short-term demand has improved, focusing on China's infrastructure capacity in the second half of the year. The fourth batch of grain has been shipped in Ukraine, and the progress of the shipment will be followed. Recently, Daiwa commented that the dry bulk market had recovered and the dividend ratio could remain high, so Pacific Shipping raised its earnings per share forecast for the 2022-2024 fiscal year by 22% to 24%, the rating to "buy" and the target price to HK $4.50.