UOB Kay Hian says it is time to take profits on Orient Overseas International Ltd after the company’s shares surged over the past three months.
The Hong Kong-liner giant has been a key beneficiary of the Red Sea rally with its shares up over 35% since the Houthi attacks on commercial shipping began.
UOB Kay Hian said the acute shortage of shipping capacity supply following the outbreak of the Red Sea attacks led to a surge in ocean freight rates.
