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<Research>HSBC Research: US Revises Port Berthing Fees; CN Expected to Maintain Leadership in Most Vessel Segments
Recommend 16 Positive 25 Negative 9 |
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After the US revises its port berthing fees for Chinese operated and built vessels, the impact of the measure on global trade flows and costs for bulk, liquid or container will be minimal, as data shows that only 9% of US port calls will be affected, well below the 43% estimated under the initial proposal, HSBC Global Research issued a research report saying. The broker forecasted COSCO SHIP HOLD (01919.HK) and OOIL (00316.HK) to work with their ocean alliance partners to mitigate the impact. As for COSCO SHIP ENGY (01138.HK) and PACIFIC BASIN (02343.HK), their US exposure is only about 10% of their volumes. HSBC Global Research continued to expect Chinese shipyards to maintain their leading position in most vessel segments, with pending new orders recovering, especially with the recent price gap against their Japanese and Korean peers. The broker's ratings and target prices for H-shares of Chinese shipping-related stocks are summarized below: Stock｜ Rating｜ TP (HKD) COSCO SHIP HOLD (01919.HK)｜Hold｜10 OOIL (00316.HK)｜Underweight｜90 SITC (01308.HK)｜Buy｜26 PACIFIC BASIN (02343.HK)｜Hold｜1.75 COSCO SHIP ENGY (01138.HK)｜Buy｜9.3 AAStocks Financial News |
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