3 Shipping Stocks Rally on Speculation of Positive 3Q-4Q21 Earnings Outlook

Shipping stocks rallied in the morning session of Friday, September 10, on speculation of an excellent earnings outlook in 3Q-4Q21, following the BDI Index’s breaking over 3,600.

As of 11:34 local time in Thailand, the share price of Precious Shipping Public Company Limited (PSL) rose ฿1.10/share or 5.19% to ฿22.30/share, with a trading value of 474 million baht.

The share price of Thoresen Thai Agencies Public Company Limited (TTA) rose ฿0.50/share or 3.31% to ฿15.60/share, with a trading value of 210 million baht.

The share price of Regional Container Lines Public Company Limited (RCL) rose ฿0.75/share or 1.33% to ฿57.00/share, with a trading value of 136 million baht.

KTBST Securities stated that the share price of shipping stocks surged today (September 10) on speculation over earnings in the third and fourth quarters of 2021, which are likely to keep the momentum going as the Baltic dry index (BDI) continues to rise following the new COVID-19 resurgence, causing limited transportation.

However, the BDI index has to be tracked today,as it has already risen to more than 3,600 points, but if there is a decline, it may affect the profits of the shipping companies.

The Baltic dry index (BDI) closed at 3,643 points, up 0.69% on the latest day, with Capesize up 1.56%, Panamax up 1.1%, and Middle Freight ( Supramax) down 1.02%.