太平洋航運(02343.HK):公司第三季度貨船收入改善
格隆匯 10 月 14日丨太平洋航運(02343.HK)公佈,受中國乾散貨進口回升及強勁的全球穀物貿易量所帶動,公司於2020年第三季的貨船收入改善。乾散貨市場於第二季度遭受全球新型冠狀病毒防疫措施以及所引致的經濟放緩和淨供應增長偏高所重創,雖然新型冠狀病毒疫情仍存在相關的不確定因素,但其後因需求高於預期令乾散貨運市況持續改善。
公司的核心業務於第三季度產生小靈便型及超靈便型乾散貨船的按期租合約對等基準日均租金(TCE)分別為8,000美元及11,200美元,較該年度上半年分別上升11%及12%。
公司的小靈便型及超靈便型乾散貨船的按期租合約對等基準日均租金(淨值)於第三季度的表現較波羅的海小靈便型(BHSI2)及波羅的海超靈便型(BSI)乾散貨船現貨指數分別高出330美元及1,770美元,而過去12個月的表現則分別高出2,010美元及3,500美元。公司的優勢於第三季度內收窄,由於簽訂現貨貨運合約與其實際執行之間有時間差距,故有關情況於正在增長的貨運市場中甚為普遍。我們的超靈便型乾散貨船的表現尤其強勁,主要受惠於年初使用硫淨化器的明顯效益。
公司的營運活動於第三季度的3,700營運日數中獲得日均利潤760美元(淨值),而過去12個月內的13,080營運日數中則獲得日均利潤1,500美元(淨值)。
於10月12日,我們就2020年第四季度的核心業務所訂租約如下:小靈便型乾散貨船之貨船日數中,75%已按日均租金約9,610美元(淨值)訂約;超靈便型乾散貨船之貨船日數中,89%已按日均租金約11,890美元(淨值)訂約以上租金高於公司小靈便型及超靈便型乾散貨船於第四季度的估計收支平衡成本(包括一般及行政管理開支)。
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