On June 5th, Greyplow released a research report stating that due to the very high operating leverage of freight companies, assuming that futures freight rates are a reasonable reflection of the outlook for spot freight rates, the bank expects container shipping companies to have a much stronger profit than their previous forecasts. To reflect the updated futures freight rate curve, the bank raised its profit forecast for COSCO Shipping Holdings and Orient Overseas International by 74% and 101%, respectively. The bank raised its rating on Orient Overseas International to "hold" with a target price of HKD 132.2 and an increased dividend forecast. It also maintained its "hold" rating on COSCO Shipping Holdings, with a target price of HKD 13.41. The bank believes that the current stock prices of container shipping companies roughly reflect the increase in freight rates and stronger profit outlook for 2024. Although the bank does not recommend investors to chase after rising prices, it believes that the market sentiment may remain strong in the coming months as the industry continues to develop in the peak season. Greyplow also suggested in the report that with the significant increase in profit forecasts, based on the upper limit of Orient Overseas International's dividend payout ratio guidance of 50%, it is expected that COSCO Shipping Holdings and Orient Overseas International will each have a dividend yield of 11.5% and 11.3%, respectively, in 2024, due to the strong balance sheets of the two companies. It is not ruled out that both companies may increase their dividend payout ratio or pay special dividends in 2024.