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<Research>HSBC Global Research: CN Retaliatory Port Fees on US Ships Expected to Positively Impact COSCO SHIP ENGY
Recommend 6 Positive 20 Negative 12 |
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China announced retaliatory port fees on relevant US vessels, to be implemented in four phases with gradually hiking rates, HSBC Global Research report wrote. Dry bulk and tanker rates may rise due to tight vessel supply. With lower US involvement, container shipping is less affected. The impact on PACIFIC BASIN (02343.HK) hinges on further regulatory clarification. The impact on COSCO SHIP ENGY (01138.HK)(600026.SH) is positive. Container shipping companies covered by the broker are not affected. Container shipping companies covered by HSBC Global Research, including Maersk (AMKAF.US), COSCO SHIP HOLD (01919.HK), OOIL (00316.HK), Hapag-Lloyd (HLAG), and SITC (01308.HK), are exempt due to limited US involvement. Companies with major US stock holdings will be affected. For HSBC's ratings and target prices on Chinese shippers, see separate table. AASTOCKS Financial News Website: www.aastocks.com |
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