Central bank to cut interest rates again to the shipping port industry influence

In general, this reducing the interest rate on the effects of partial positive plate.But from the industry fundamentals, the shipping industry during the year is still difficult to shake off the shadow of excess capacity, although in the first half of cargo price basis, part shipping companies reported link performance is expected to turn for the better, but the overall industry profitability is still faced with greater pressure.In external demand for instability and macroscopical economic slowdown in the background, the port throughput growth rate glides stage by stage, the pressure of rising costs the achievement growth is also under pressure.Therefore, we maintain the shipping port plate neutral rating, and recommended investors profit growth and low valuation of the port of Tangshan, and for the shipping sector cycle bottomed anticipate still need to wait.

Source: Securities