Market Insight | Shipping stocks generally weaken, spot freight rates accelerate decline, industry interim reports show overall growth slower than expected
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Shipping stocks are generally weakening, with shares of Cosco Ship Hold, OOIL, and SITC all falling. The Shanghai Containerized Freight Index has dropped to 2963.38 points, breaking below 3000 points. The industry's mid-year report growth rate is lower than expected, but Cosco Ship Hold's Q2 performance is good. Guosen Securities believes that despite concerns about economic recession, expectations of interest rate cuts may benefit U.S.-China trade, so there is no need to be overly pessimistic in the short term
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