太平洋航運(02343.HK):一季度市況有助保持正面的租金勢頭並帶動收入表現強勁
格隆匯4月13日丨太平洋航運(02343.HK)公佈,2022年第一季度的小宗散貨貨運市場在強勁的供求基本因素推動下,明顯較去年同期強勁。儘管全球經濟增長正常化,烏克蘭衝突和新型冠狀病毒疫情帶給中國的不確定性的形勢下,小宗散貨裝載量的增加繼續支持租金。
市況有助保持正面的租金勢頭並帶動收入表現強勁
公司的核心業務於第一季度錄得的小靈便型及超靈便型乾散貨船按期租合約對等基準的日均收入分別為23,810美元(淨值)及32,510美元(淨值),較2021年第一季度分別增長117%及122%。公司於期內的日均表現較小靈便型(BHSI38,000載重噸(經調整))及超靈便型(BSI58,000載重噸)乾散貨船的平均指數分別高出3,260美元及8,610美元。公司的表現繼續受惠於公司多元化的貨物及客户羣,以及公司廣泛的全球辦事處網絡所成就的密切客户聯繫。
2022年第二季度的核心小靈便型及超靈便型乾散貨船日數中,分別已有75%及92%按日均租金23,970美元(淨值)及31,250美元(淨值)獲訂約。2022年下半年的核心小靈便型及超靈便型乾散貨船日數中,分別已有26%及35%按日均租金16,440美元(淨值)及21,590美元(淨值)獲訂約。下半年的訂約中較舊的長期合約佔較高比例,而這些合約的租金較現貨市場租金低,公司認為根據往年情況,在2022年餘下時間以高於第一季度(市況通常是全年最疲弱)的租金訂定新的貨運合約及長期合約的機會甚高。
公司的營運活動亦作出不俗貢獻,於第一季度的5,160營運日數中錄得日均利潤達3,320美元(淨值)。儘管利潤較最近數個季度有所回落,但仍處於歷來高位。公司繼續認為在當前強勁但波動的租金走勢中仍然有不少增加收入的機遇。
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