Shipping shares lower Dahua rating of dry bulk shipping stocks
Source: Internet
Author: User
KeywordsHONG Kong dollar shipping iron ore
Hong Kong's dry bulk shipping stocks fell sharply as the Baltic Dry Bulk Shipping Index (BDI) plunged 1.1% to 4,029 in the past two days, but the index rose 18% between June 10 and 18th. Dahua said the recent rally in BDI could be driven by increased iron ore transport in the Cape of hope market, increased transport of equipment on Brazilian/Chinese routes, and port congestion. But BDI began to lose momentum in Friday, and Dahua expects China's imports of iron ore to continue to drop slightly monthly, as Chinese ports now have higher levels of iron ore stocks. Dahua maintain regional dry bulk shipping unit reduction rating. In terms of shares, China Sea Development (01138-HK) fell 5.97% to HK $9.61, and Cosco (01919-HK) fell 5.99% to 8.95 Hong Kong dollar, while Pacific Shipping (02343-HK) fell 5.88% to HK $4.80.
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