Xin Lang Cai Jing·2025-10-23 04:01Core Viewpoint - Pacific Shipping (02343) shows a near 3% increase in stock price, with a current price of HKD 2.54 and a trading volume of HKD 25.52 million, following the release of its Q3 2025 operational data [1] Group 1: Operational Performance - The company's small handy-sized bulk carrier time charter equivalent (TCE) daily net rental decreased by 15% year-on-year to USD 11,680, while the ultra-handy-sized bulk carrier TCE increased by 10% year-on-year to USD 13,410 [1] - For Q4 2025, the company expects the daily net rental for small handy-sized bulk carriers and ultra-handy-sized vessels to improve to USD 12,380 and USD 14,060 respectively, with 72% and 87% of operational days already locked in [1] Group 2: Market Outlook - Daiwa Securities views the increase in port fees in China as a positive factor driving up bulk freight rates and acknowledges the company's proactive approach in dealing with uncertain operational environments [1] - Bank of America Securities notes that the Q3 performance of Pacific Shipping was generally in line with expectations, with slightly weak freight rates, but an improvement in locked freight rates for Q4 [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] - Bank of America has raised the earnings per share forecast for Pacific Shipping for 2025 to 2027 by an average of 7% to reflect strong performance in the spot market for Q4 [1]