The Zhitong Finance App learned that Bank of America Securities released a research report stating that it maintains Pacific Shipping's (02343) “buy” rating, with a target price of HK$3.1. The company paid a final dividend of HK1.6 cents and an additional final special dividend of HK4.1 cents, with a total dividend of HK5.7 cents per share, maintaining a dividend ratio of at least 50%. Based on the current price being lower than the net asset value per share, it will consider repurchasing shares this year.

According to the report, the company's basic profit last year was 119 million US dollars, better than the bank's forecast of 107 million US dollars, due to the higher rate achieved by ultra-portable bulk carriers. Management is optimistic about the Group's 2024 freight outlook due to strong forward freight agreements this year and the Red Sea and Panama Canal conditions.