PSL shares jumped more than 8% after the company reported a second-quarter 2026 net profit of 521.49 million baht, swinging from a net loss of 43.31 million baht in the same period last year. The turnaround was driven by a 58% rise in net freight revenue, supported by a stronger dry bulk shipping market and a larger fleet. Kasikorn Securities noted that PSL's core profit for the quarter came in at 497 million baht, beating its estimate by 79%, buoyed by robust time charter rates of 16,442 US dollars per day, up 62% year-on-year and 31% quarter-on-quarter. The broker raised its 2026 to 2028 earnings forecasts by 60%, 34%, and 27% respectively, and lifted its target price to 10 baht per share, citing expectations that freight rates will remain elevated on strong demand and constrained supply from slower vessel speeds.
Precious Shipping Public Company LimitedQ2 profit turnaround and broker target hike to 10 baht
