Zhi Tong Cai Jing·2025-10-23 03:51Core Viewpoint - Pacific Shipping (02343) has shown a nearly 3% increase in stock price, reflecting positive operational data for Q3 2025, despite some challenges in freight rates [1] Group 1: Operational Highlights - The average time charter equivalent (TCE) for small handy bulk carriers decreased by 15% year-on-year to $11,680 per day, while the TCE for super handy vessels increased by 10% to $13,410 per day [1] - For Q4 2025, the company expects TCE for small handy bulk carriers and super handy vessels to rise to $12,380 and $14,060 per day, respectively, with 72% and 87% of operational days already locked in [1] Group 2: Market and Regulatory Insights - Increased port fees in China are viewed as a positive factor for driving up dry bulk freight rates, and the company is recognized for its proactive approach in navigating uncertain operational environments [1] - Bank of America noted that while Q3 performance was generally in line with expectations, freight rates were slightly weak, but improvements in locked-in rates for Q4 are anticipated [1] - The company is expected to be exempt from paying port fees in the US and China, although regulatory uncertainties remain until further discussions with regulatory bodies are concluded [1]