The analyst notes that minor bulk trades, a major user of handysize vessels, is likely to record higher growth in 2024-2025, as the rerouting of trade flows towards longer voyages similar to the Panama Canal restrictions would further act to boost tonne-mile vessel demand.
With a possible recovery of charter rates and a spotlight on sustainability, SAC Capital analyst Nicole Lim has maintained her “buy” call on Uni-Asia Group (SGX:CHJ
) . Lim has a target price of $1.14.
As the Baltic Handysize Index (BHSI) has reached US$831 in Dec 2023, the highest level this year and more than double the trough of US$389 in Aug 2023, this upward trend has provided support to the index in 2H2023 as global demand recovers, says Lim.
