Editor / Futu Information mia
On June 17, COSCO Shipping Holdings strengthened again. As of press release, it rose 6.05% to HK $19.98.
COSCO Shipping Holdings gained nearly 20.9954 million shares from Morgan Stanley.
According to the equity information of the Hong Kong Stock Exchange, COSCO Shipping Holdings and Morgan Stanley increased their holdings of 20.9954 million shares at an average price of HK $19.0448 per share on June 10, involving a capital of about HK $400m. After the increase, Morgan Stanley's latest number of shares is 135 million shares, increasing the proportion of shares from 4.42% to 5.24%.
Source: easy disclosure
BoCom International: it is expected that the congestion in Yantian Port will become a short-term freight rate catalyst, reiterate the purchase of COSCO Shipping Holdings
BoCom International reported that the Shanghai container freight index rose a further 2.5 per cent to 3703.9 from the previous month. The bank believes that the decline in the operational efficiency of the Yantian port is likely to continue until the end of June and push up the freight rate of trans-Pacific trade routes in the short term. The Baltic dry bulk index surged 21.3% to 2944 points from the previous week, an one-month high, and the big ship market was strong. The bank expects Chinese demand for iron ore and agricultural products to remain strong this year.
In addition, the bank expects the congestion at Yantian Port to act as a catalyst for short-term freight rates and to help carriers successfully implement general rate increases. In view of the tight supply of major trade routes, the bank reiterated the purchase of COSCO Shipping Holdings and OOCL.