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<Research>HSBC Research Predicts US Pause on Reciprocal Tariffs on Non-CN Imports to Drive Front Loadings
Recommend 25 Positive 33 Negative 12 |
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Demand concerns over US tariffs might weigh on the general rate increases (GRIs) in the transpacific (TP) routes, while the US pause on reciprocal tariffs on non-Chinese imports for 90 days could drive businesses to front-load shipments, reversing the recent decline in orders, HSBC Global Research opined in its research report. Due to the US slapping over 100% tariffs on Chinese goods, however, shipments from China will continue to diminish. In HSBC Global Research's opinion, intra-Asia trade can remain resilient, and SITC (01308.HK) will be a major beneficiary. Amid mixed demand prospects, carriers are also reducing TP sailings to balance capacity. Consequently, freight rates have not experienced a nosedive. The broker reiterated that the outlook for 2H25 remains highly uncertain. The broker recommended Buying SITC and COSCO SHIP ENGY (01138.HK), with target prices of $26 and $9.3. It gave COSCO SHIP HOLD (01919.HK) a Hold rating with a target price of $10 and OOIL (00316.HK) a Reduce rating with a target price of $90. AAStocks Financial News |
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