Krungsri Securities said in an analysis dated September 29, 2026 that it holds a positive view on SCG JWD Logistics, or SJWD, maintaining a Buy recommendation with a 2027 target price of 12 baht, driven by rising freight rates. The Baltic Dry Index and the World Container Index have risen about 46% and 92% respectively since the start of the year, while prolonged geopolitical risk is accelerating import-export activity and tightening supply chains, a positive for SJWD's Transport, Freight and Equity Income businesses. Krungsri also sees long-term upside from the plan to relocate the Khlong Toei port to Laem Chabang port, which currently handles about 1.3 million TEU of containers and roughly 1.5 to 2.0 million tonnes of bulk cargo per year. It estimates that for every 5% of market share SJWD gains from Khlong Toei's shipping volume, annual profit would rise about 2%, and there is further opportunity from the new round of concessions for ports A5 and B1-B5 under the Port Authority of Thailand, where existing concessionaires NYT, Evergreen, ESCO and TIPS each average about 300 to 400 million baht in annual profit per port. Krungsri expects SJWD to post normalised profit of about 1.294 billion baht in 2026, up 16.6% from a year earlier, on revenue of about 27.295 billion baht, up 8.5%.
SCGJWD LOGISTICS PCL NON-VOTING DRKrungsri maintains Buy with 12 baht target on SJWD, citing rising freight rates and port concession upside.
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