The share price of sea freight and logistics stocks surged as Baltic Dry Index (BDI) edged higher by 2.75% to 3,025 points with a 13.4% month-to-date gain.
As of 11:15 local time in Thailand, PSL rose 2.48% to ฿20.70/share.
TTA gained 1.69% to ฿18.10/share.
PRM increased 0.68% to ฿7.45/share.
PORT hiked 2.56% to ฿3.20/share.
NYT advanced 1.32% to ฿4.60/share.
RCL was flat at ฿60.75/share.
Asia Plus Securities (ASPS) recommended “Speculative-Buy” on stocks that operate as bulk carriers (TTA, PSL) after the Baltic Dry Index (BDI) edged higher by 2.75% to 3,025 points with a 13.4% month-to-date gain.
Meanwhile, stocks that operate as container vessels (RCL) were buoyed by higher freight rate as 40-foot container freight rate for Shanghai-Rotterdam rose to a new high on June 11 at 10,522 dollars. ASPS expected the rate to continue increasing as container shortage will remain as a problem. Moreover, the report of the port in Guangdong, China, was temporarily closed due to the Covid-19 being expected to prolong further. The port is the third-largest port in China and the fifth-largest port in the world.