Thai shipping equities bounced back on Tuesday after a sharp decline a day earlier, on hopes for a rebound in freight rates after the rate has shown a downtrend for more than three months.
The share price of JWD Infologistics Public Company Limited (SET: JWD) dropped THB0.80/share or 4.17% to THB20.00/share, with a trading value of THB67 million.
The share price of Precious Shipping Public Company Limited (SET: PSL) rose THB0.40/share or 2.90% to THB14.20/share, with a trading value of THB217 million.
The share price of Thoresen Thai Agencies Public Company Limited (SET: TTA) rose THB0.10/share or 1.16% to THB8.75/share, with a trading value of THB185 million.
The price of some shipping stocks rallied on Tuesday on hopes for a rebound in the Baltic Dry Index (BDI) after the rate has shown a downtrend for three months, or since October 7, 2021, when the index was at 5,650 points. The BDI decreased by 24 points, reaching 1391 points on January 24, 2022.
Also, investors are likely to anticipate the shipping group’s fourth-quarter performance, which is expected to be solid due to the high season; particularly, PSL. The market believes that PSL’s performance would remain strong in 4Q21, leading the company’s full-year revenue rebound from a 1.29 billion baht loss in 2020.
