GLONGHUI, January 22 | J.P. Morgan Chase released a report stating that COSCO Offshore Control was added to the positive catalyst watch list. Under the two major canal crises, its valuation was not high, and its profits are expected to rise. Considering the schedule for new ship deliveries, the bank believes that the market is overpaying attention to the risk of overcapacity in the industry and ignoring the possibility that a “perfect storm” will slow ship and resource turnover. According to the bank, freight rates and the profitability of shipping companies will increase during 2024, so it raised the expectations of COSCO Marine Control and Dongfang Overseas to reflect their performance forecasts for the previous quarter and a moderate increase in immediate freight rates. The bank believes the market will raise earnings estimates for shipping companies in the next few weeks. Motong raised the target price of COSCO Marine Holdings H shares from HK$10 to HK$13, maintaining the “overholding” rating.