The Zhitong Finance App learned that Pacific Shipping (02343) rose more than 3%. As of press release, it had risen 3.62% to HK$3.725, with a turnover of HK$207.191,000.
According to the news, Pacific Shipping recently released operating data for the third quarter. The company achieved an average daily profit of 2,190 US dollars out of about 6,610 operating days in the third quarter of 2026. This operating activity creates an additional source of profit for the company's core business by using short-term leased cargo ships to transport customers' spot goods. Komo believes that Pacific Shipping's third-quarter operation update strengthened the bank's positive view on freight resilience, and based on the recent stock price reduction as a buying opportunity, the company's dividend yield is estimated to be about 9% this year. The bank indicates that the company's profit visibility improved in the fourth quarter of this year, and management had a positive outlook for next year, maintaining considerable spot exposure despite resilient demand and potential disruptions from the El Niño phenomenon.
CICC pointed out that according to the company's announcement, as of October 12, 2026, the company had covered 65% and 76% of the promised ships for the fourth quarter. The corresponding TCE was 16,480 US dollars/day and 18,960 US dollars/day, respectively, which was 2.9% and 5.4% higher than the actual TCE for the third quarter. The bank believes that the higher coverage rate has increased the certainty of earnings in the fourth quarter. Uncovered shipping still retains the flexibility of spot freight rates, which is expected to benefit from the increase in freight rates in the fourth quarter.