SITC Shares Rise Over 3% as Broker Sees Q2 Volume, Freight Rate Recovery; Company Commands Freight Premium

Stock News06-01 11:24

SITC (01308) shares gained more than 3%, rising 2.95% to HK$35.64 at the time of writing, with a turnover of HK$1.2 billion.

A recent research report noted that the company's management participated in an investment forum, expressing confidence in intra-Asia shipping demand and plans to continue expanding fleet capacity.

Regarding geopolitical tensions in the Middle East, management expects limited downside risk and anticipates the company will benefit from the rebound in container freight rates observed since March.

On competitiveness, the company holds a cost advantage of approximately US$100 per TEU compared to peers, while also maintaining an average freight rate premium of about US$100 per TEU.

Management indicated that freight rates were under pressure in the first quarter, declining around 5% year-on-year.

However, with escalating tensions in the Middle East, rates have rebounded strongly, surpassing last year's levels. Both freight rates and shipping volumes are expected to achieve year-on-year growth in the second quarter.

Additionally, although bunker fuel costs have nearly doubled from earlier lows this year, the company can currently pass on the full cost increase to customers through fuel surcharges.

Management pointed out that fuel costs account for about 20% of total operating costs, with the average price in April around US$630 per tonne, compared to US$520 per tonne in 2025.

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