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惠譽料集裝箱海運市場放緩對中資租賃公司業務衝擊較小
評級機構惠譽表示,近月全球貿易增長放緩,加上航運供應鏈營運壓力紓緩,令集裝箱運費大幅下降,可能會對部分集裝箱船舶租賃業務敞口較高的中資租賃公司,構成資產質量和殘值風險,但考慮到公司多數擁有多元化的租賃商品組合,並有母公司的強力支持,預期影響相對有限。 惠譽預期,在貨幣政策緊縮和通貨膨脹加速攀升的雙面夾擊下,全球經濟步入蕭條的風險,可能會令運費進一步受壓。在惠譽授評的中資租賃公司中,工銀租賃、交銀租賃、國銀金融租賃(01606.HK)及中船租賃(03877.HK)持有的船舶資產規模較大,去年底止船舶租賃資產達50億至160億美元,約佔租賃組合的11%至33%。 但該行預期,運費下跌對租賃公司利息和租金收入的影響甚微,因為船舶租賃合同通常是長期固定租賃費率,指出中資租賃公司的承租人多為經歷過經濟周期洗禮的全球龍頭企業,認為授評租賃公司面臨的信用風險較低。
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