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富瑞:上調太平洋航運(2343.HK)目標價至2.1港元 評級降至“持有”
格隆匯 03-04 13:49

富瑞發表研究報吿指,太平洋航運(2343.HK)的超靈便型乾散貨船(Supramax)或小靈便型乾散貨船(Handysize)即期運費觸及2010年以來的最高水平,預期今年第二季的運費將下調。富瑞上調太平洋航運目標價55.6%,由原來的1.35港元升至2.1港元,但評級由“買入”降至“持有”,並指看好乾散貨運輸,但預期較小的船隻價格將遜於大市,而在旅行運輸復甦中,該行更為看好內地航空公司。

富瑞表示,全球的乾散貨運輸行業的基本面在未來幾年或會持續改善,估計全球的乾散貨需求在今、明兩年將分別增長2.8%和2.7%。另一方面,較小的細分市場最吸引力,並已實現盈利。SupramaxHandysize的基本面最具吸引力,估計其淨供應量將於2021至2023年增長2.8%、2%和0.2%。

該行又指,運費強勁反彈帶動收益提升,Supramax和Handysize的即期運費年初至今分別上升81%和71%,為自2010年以來的最高水平。該行認為,即期運費短期內可能稍為回調,因為價格反彈是由於傳統淡季的貨運量表現強勁。

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