According to a research report published by Goldman Sachs, COSCO Offshore's net profit for the first quarter was 6.8 billion yuan, a marked improvement from 1.8 billion yuan in the fourth quarter of 2023, but it is still slightly lower than 7.1 billion yuan in the same period last year, in line with market expectations and management's guidelines for profits to remain basically flat.

Looking ahead, the bank believes that some ports in the western Mediterranean are already congested, while India and Latin America may become new drivers of demand, and there is a risk that freight rates will rise next quarter. The bank updated the latest liner shipping volume and freight rate assumptions, and lowered net profit from 2024 to 2026 by 8% to an increase of 13%, slightly raising the company's target price for H shares to HK$6.9 and unchanged at 8.9 yuan for A shares, giving it a “sell and sell” rating.