HSBC Research maintains a "Hold" rating on SITC with a target price of 31 yuan

HSBC Research published a report stating that the Middle East conflict has led to a continued tightening of regional shipping capacity, while demand remains robust, driving freight rates across all routes to rise. In an environment of rising costs, SITC (01308.HK) has expanded its cost advantage compared to peers due to its young fleet and excellent fuel efficiency.

The bank maintains a "Hold" rating on SITC, with a target price of 31 yuan, believing that although the company is well-positioned to benefit from changes in regional trade patterns, its current valuation is already at a reasonable level