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    2343   BMG684371393

PACIFIC BASIN SHIPPING LIMITED

(2343)
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Chinese Shipping Shares Slide on Biden's Push to Lower Shipping Costs

07/09/2021 | 05:03am EDT

By Ronnie Harui

Shares in Chinese shipping companies fell sharply Friday after the White House said Thursday that it will urge U.S. regulators to address perceived anticompetitive pricing in the ocean shipping and railroad industries.

The Biden administration will request the Federal Maritime Commission and the Surface Transportation Board to examine what it calls a pattern of consolidation and aggressive pricing that has made it very expensive for U.S. companies to transport goods, White House Press Secretary Jen Psaki said Thursday.

Concerns that Chinese shipping companies may bear the brunt of the Biden administration's executive order dragged their shares lower.

In Hong Kong, Cosco Shipping Holdings Co. slumped 11%, Orient Overseas (International) Ltd. dropped 7.6% and Pacific Basin Shipping Ltd. fell 6.4%.

Write to Ronnie Harui at ronnie.harui@wsj.com

(END) Dow Jones Newswires

07-09-21 0502ET

Stocks mentioned in the article
ChangeLast1st jan.
COSCO SHIPPING HOLDINGS CO., LTD. 1.87% 14.16 End-of-day quote.97.94%
ORIENT OVERSEAS (INTERNATIONAL) LIMITED 3.52% 161.7 End-of-day quote.108.65%
PACIFIC BASIN SHIPPING LIMITED 0.70% 4.31 End-of-day quote.195.21%
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Financials (USD)
Sales 2021 2 677 M - -
Net income 2021 497 M - -
Net Debt 2021 231 M - -
P/E ratio 2021 5,25x
Yield 2021 10,1%
Capitalization 2 665 M 2 665 M -
EV / Sales 2021 1,08x
EV / Sales 2022 0,90x
Nbr of Employees 4 660
Free-Float 99,8%
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Technical analysis trends PACIFIC BASIN SHIPPING LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Last Close Price 0,55 $
Average target price 0,66 $
Spread / Average Target 19,9%
EPS Revisions
Managers and Directors
Martin Fruergaard Chief Executive Officer & Executive Director
Peter Schulz Chief Financial Officer & Executive Director
David Muir Turnbull Executive Chairman
Suresh Moganti Director-Information Technology
Suresh Prabhakar Operations Director
Sector and Competitors