ATPL ended the day in red, amid a continuous decrease of the BDI index.

Atlantska Plovidba, a Croatian shipping company, has lost 17.8% of its share value yesterday on the back of the continuous decline of the Baltic Exchange Dry Index (BDI). This index, which measures the rates for capesize, panamax, supramax and handysize vessels has over the last month fallen by over 30%, with today marking the lowest point since August 11th.

The main reasons for this decline are cited as continuous concerns oversupply and demand, the health of the Chinese economy, as well as the latest Chinese intervention in the coal markets.

This all had a domino effect on Atlantska Plovidba, which finally resulted in the aforementioned decrease in share price. However, one should take note of the Company’s performance over this year, as it is still one of the best-performing stocks on the Zagreb Stock Exchange, with a YTD increase of 169% even when today’s decline in share price is included. Note that yesterday’s share price closed at
HRK 398, while ATPL ended up being the most traded share on ZSE.

As a reminder, the company recently published their 9M 2021 results, according to which sales increased by 70%, EBITDA increased by 224%, while net profit reached HRK 91.1m (compared to a net loss of HRK -51.07m in 9M of 2020). To read more about the company’s 9M results, click here.

YTD Share Price Performance of ATPL