{"id":9616,"date":"2021-05-31T08:30:33","date_gmt":"2021-05-31T01:30:33","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&p=9616"},"modified":"2021-10-14T08:31:42","modified_gmt":"2021-10-14T01:31:42","slug":"hah-update_freight-rate-and-charter-rate-remain-high_may2021_en","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/","title":{"rendered":"HAH update_Freight rate and charter rate remain high_May2021_en"},"content":{"rendered":"

Investment Thesis<\/strong><\/span><\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Sea container transportation industry is being in uptrend cycle, freight rate has surged due to high demand;<\/span><\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2 new investments in Hai An West and Hai An East at attractive price, which help to improve capacity during shortage of supply<\/span><\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Containerization is trending in Vietnam and over the world;<\/span><\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Stable income from port operation, thanks to HAH container fleet;<\/span><\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Positive expectation from modifying Circular 54\/2018\/TT-BGTVT in 2021, which increase the stevedoring charge for all port, both domestic cargo and international cargo;<\/span><\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Strong raising in container vessel price and charter rate in 2021;<\/span><\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Shortage of capacity not yet be solved in near future, which is expected to keep freight rate staying high level;<\/span><\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Vietnam international trade benefit from the recovery of target market such as China, The US, Europe.<\/span><\/p>\n

Risk<\/strong><\/span><\/p>\n

–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Increasing oil price is the most important risk, which impact negatively on the earning.<\/span><\/p>\n

Recommendation<\/strong><\/span><\/p>\n

After Q1\/2021 result was annouced, we raise target price to 35,100 VND per share to reflect the fact mentioned above.<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-9616","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"HAH update_Freight rate and charter rate remain high_May2021_en - GTJA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HAH update_Freight rate and charter rate remain high_May2021_en - GTJA\" \/>\n<meta property=\"og:description\" content=\"Investment Thesis –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Sea container transportation industry is being in uptrend cycle, freight rate has surged due to high demand; –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2 new investments in Hai An West and Hai An East at attractive price, which help to improve capacity during shortage of supply –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Containerization is trending in Vietnam and over the world; –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/\" \/>\n<meta property=\"og:site_name\" content=\"GTJA\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-14T01:31:42+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gtjai.com.vn\/#website\",\"url\":\"https:\/\/gtjai.com.vn\/\",\"name\":\"GTJA\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/gtjai.com.vn\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/#webpage\",\"url\":\"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/\",\"name\":\"HAH update_Freight rate and charter rate remain high_May2021_en - GTJA\",\"isPartOf\":{\"@id\":\"https:\/\/gtjai.com.vn\/#website\"},\"datePublished\":\"2021-05-31T01:30:33+00:00\",\"dateModified\":\"2021-10-14T01:31:42+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/gtjai.com.vn\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"HAH update_Freight rate and charter rate remain high_May2021_en\"}]}]}<\/script>","yoast_head_json":{"title":"HAH update_Freight rate and charter rate remain high_May2021_en - GTJA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/","og_locale":"en_US","og_type":"article","og_title":"HAH update_Freight rate and charter rate remain high_May2021_en - GTJA","og_description":"Investment Thesis –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Sea container transportation industry is being in uptrend cycle, freight rate has surged due to high demand; –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2 new investments in Hai An West and Hai An East at attractive price, which help to improve capacity during shortage of supply –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Containerization is trending in Vietnam and over the world; –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 […]","og_url":"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/","og_site_name":"GTJA","article_modified_time":"2021-10-14T01:31:42+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/gtjai.com.vn\/#website","url":"https:\/\/gtjai.com.vn\/","name":"GTJA","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/gtjai.com.vn\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/#webpage","url":"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/","name":"HAH update_Freight rate and charter rate remain high_May2021_en - GTJA","isPartOf":{"@id":"https:\/\/gtjai.com.vn\/#website"},"datePublished":"2021-05-31T01:30:33+00:00","dateModified":"2021-10-14T01:31:42+00:00","breadcrumb":{"@id":"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/gtjai.com.vn\/en\/research\/hah-update_freight-rate-and-charter-rate-remain-high_may2021_en\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/gtjai.com.vn\/en\/"},{"@type":"ListItem","position":2,"name":"HAH update_Freight rate and charter rate remain high_May2021_en"}]}]}},"_links":{"self":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/9616\/"}],"collection":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/"}],"about":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/types\/research\/"}],"author":[{"embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/users\/1\/"}],"wp:attachment":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/media\/?parent=9616"}],"wp:term":[{"taxonomy":"cate_research","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/cate_research\/?post=9616"},{"taxonomy":"specialized","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/specialized\/?post=9616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}