Logistics-Container Stocks Edge Up as Freight Rates Continue to Rise

On Friday at 11:21 AM (Bangkok time), the share prices of logistics stocks and container stocks edged higher, led by Sino Logistics Corporation Public Company Limited (SET: SINO), which rose 9.30% or THB 0.12 to THB 1.41, with a trading value of THB 27.85 million;

The share price of WICE Logistics Public Company Limited (SET: WICE) increased by 2.48% or THB 0.15 to THB 6.20, with a trading value of THB 17.04 million;

The share price of Sonic Interfreight Public Company Limited (mai: SONIC) grew by 2.35% or THB 0.04 to THB 1.74, with a trading value of THB 2.70 million;

The share price of Regional Container Lines Public Company Limited (SET: RCL) gained 2.86% or THB 0.75 to THB 27.00, with a trading value of THB 115.73 million;

and the share price of Thoresen Thai Agencies Public Company Limited (SET: TTA) edged up by 1.96% or THB 0.15 to THB 7.80, with a trading value of THB 48.14 million.

Krungsri Securities (KSS) stated in its report that the outlook for freight rates in the World Container Index World Container Index (WCI) was in a positive trend, as it moved upward for five consecutive weeks. The latest move was a rise of 16% WoW with an increase in almost every shipping routes, such as Shanghai-Rotterdam (+20% WoW) and Shanghai-Los Angeles (+18% WoW)

The firm saw positive sentiment from container stocks, such as RCL, and logistics stocks in freight forwarder category with high sea freight proportion, such as SINO, SONIC, LEO, and WICE.