Glonghui, January 31 | Yamato published a rating report saying that COSCO Maritime Control (1919.HK) management expects a slight drop in European shipping rates in the near future, and that shipping rates for US routes may rise. With ongoing discussions with customers on US contract rates and unresolved geopolitical issues in the Red Sea, the bank believes that the group is in a better position to negotiate, mainly because the logistics supply chain is weak. Even if there is a shortage of some containers in the market, management believes that there is no impact on operations, and gross margin is expected to improve quarterly in the first quarter of this year. The bank lowered the Group's earnings estimate per share by 1% last year to reflect initial performance, but raised the earnings forecast per share by 11% to 17% from 2024 to 2025, raised the dividend rate forecast from 30% to 40%, and raised the target price from HK$9.6 to HK$10, maintaining its rating as a buy.