SITC Shares Climb Over 3% as First Three Quarters Revenue Rises About 14.2% Year-on-Year, JPMorgan Notes Strong Freight Rates Despite Off-Season

SITC (01308) shares rose more than 3%, up 3.44% as of press time to HK$48.78, with a turnover of HK$116 million.

On the news front, SITC recently announced its third-quarter results and operating data. The group's revenue increased by about 14.2% from approximately US$2.459 billion for the nine months ended September 30, 2025, to approximately US$2.808 billion for the nine months ended September 30, 2026.

For the nine months ended September 30, 2026, the group's container volume was 2.9121 million TEUs, an increase of about 5.9% compared with 2.7498 million TEUs in the same period of 2025. The group's average freight rate (excluding slot exchange fee income) for the nine months ended September 30, 2026, was US$825.9 per TEU, an increase of about 9.4% compared with US$754.9 per TEU in the same period of 2025.

JPMorgan released a research report stating that after SITC published its third-quarter operating update, it still recorded strong realized freight rates and resilient cargo volumes even during the "off-season," and management is optimistic about the year-end outlook, expecting the fourth quarter and the period before Lunar New Year to be very busy.

The bank noted that management described third-quarter demand as "hotter than expected," with cargo volumes and freight rates strong across major routes, especially Southeast Asia and Japan. Port congestion and weather disruptions have kept effective capacity tight, and August freight rates were higher than July, breaking the usual seasonal pattern.