PSL swings to profit as dry bulk rates surge; brokers lift targets
Brokers upgrade PSL on strong Q2 and freight rates Analysts upgraded PSL to buy and raised target prices, expecting a swing to profit on soaring freight rates. Dry bulk rates stayed high on iron ore and grain demand, including Guinea's Simandou project. This tells investors the market expects earnings to keep improving, pulling the shares up.
It explains the analyst-driven re-rating that started the period's move.
PSL's Q2 profit swing confirmed by actual results PSL reported a Q2 2026 net profit of 521 million baht, reversing last year's loss. Net voyage revenue jumped 58% and average daily revenue per vessel nearly doubled to $16,676. This confirms the freight-rate recovery is real, not just forecast, supporting the share price.
The actual earnings result is the core new fact driving PSL's price.
Shares jump 7.6% as broker lifts target to 10 baht After the results, PSL shares rose 7.6% to 9.20 baht and Kasikorn raised its target to 10 baht, lifting 2026-2028 profit forecasts. The Baltic Dry Index also strengthened on seasonal grain and raw material demand. This shows the market rewarding the earnings turnaround.
It captures the market's immediate positive reaction to the confirmed profit rebound.
Supramax rates edge up but BDI falls on Middle East tension Middle East tensions pushed oil to $93 and could support freight rates short-term, with Supramax rates up 2% to 1,634 points. But the broader BDI fell 5% to 2,820, a reminder that the dry bulk recovery is uneven and not guaranteed to keep rising.
It gives the real counterweight: a softer overall index even as PSL's segment holds up.