TS LINES (02510) climbed more than 6% during intraday trading, bringing its cumulative share price increase for the month to over 50%. At the time of writing, the stock was up 5.63% at HK$13.52, with trading turnover reaching HK$99.82 million.

Following the release of the company's first-half results, Shenwan Hongyuan noted that TS LINES reported revenue of US$660 million for the first half of 2026, representing a 3.0% year-on-year increase and a 2.7% sequential rise. Net profit attributable to shareholders reached US$233 million, up 23.3% year-on-year and 65.9% quarter-on-quarter. This figure significantly exceeded the brokerage's second-quarter forecast of US$161 million, surpassing expectations largely due to an additional US$39 million in gains from vessel disposals during the period.

The brokerage further indicated that TS LINES launched new Red Sea route services in the first half, generating approximately US$13 million in revenue. Freight rates on the Red Sea route have surged substantially since June, with the NCFI Red Sea index climbing to 4,546 points as of August 21, a 164% increase compared to the same period last year. The average index value since early July has risen 76% relative to the first-half average. The Red Sea route is expected to continue contributing excess profits to the company in the second half of the year.

In addition, both the Middle East and South America routes have delivered impressive performance recently. As of August 21, the latest NCFI freight rates for these routes have both surged more than 150% year-on-year.