PACIFIC BASIN(HK:02343) Zhi Tong Cai Jing·2024-04-19 02:03Group 1 - The core point of the article is that Pacific Basin Shipping (02343) has announced a share buyback plan with a funding limit of $40 million, which is approximately 312 million HKD, and the buyback period is from April 25, 2024, to December 31, 2024 [1] - As of the report, Pacific Basin Shipping's stock has risen by over 7%, specifically 7.44%, trading at 2.6 HKD with a transaction volume of 39.48 million HKD [1] - In Q1, the average daily income for the company's handy and super handy bulk carriers under time charter contracts was $11,050 and $13,610 respectively, with a year-on-year decrease of 18% for handy bulk carriers, while the income for super handy bulk carriers remained stable [1] Group 2 - The spot market average daily charter rates for handy and super handy bulk carriers in Q1 were $10,510 and $12,310 respectively, showing year-on-year increases of 26% and 27% [1] - CICC has raised its profit forecast for the company by 38% to $350 million for 2025, while maintaining the profit estimate for 2024 unchanged, and has increased the target price by 10.5% to 3.15 HKD [1] - The report assumes a minimum dividend payout ratio of 50% for 2024, resulting in a dividend yield of 7.9%, and if the dividend payout ratio remains at 75% as last year, the yield would be 12.2%, indicating attractive dividend prospects for the company [1]