Changes in Hong Kong stocks | COSCO Marine (01138) rose by nearly 5%, and ship-to-ship transfers and longer range will continue to occupy VLCC capacity

Zhitongcaijing · 3d ago

The Zhitong Finance App learned that COSCO Marine (01138) rose by nearly 5%. As of press release, it had risen 4.8% to HK$16.39, with a turnover of HK$141 million.

According to the news, according to Seaway Maritime News, in the face of rising navigation risks in the Strait of Hormuz and the Strait of Mander, COSCO SHIPPING Energy Transportation and China Merchants Shipping are adjusting the deployment of oil tankers in the Middle East to maintain China's crude oil imports through external cargo, ship-to-ship transit, and alternative ports. In principle, they will no longer sail into the Persian Gulf for internal oil. The analysis indicates that ship-to-ship transfers and longer range will continue to occupy VLCC capacity.

CITIC Construction Investment released a research report saying that geopolitical conflicts are driving high freight rates in the international oil transportation market to rise. Iran refused to open the Strait of Hormuz, and the Houthis attacked the freighter on August 11, killing 6 people. The Asian market turned to the Gulf of Oman to buy oil. The scarcity of VLCCs in the bay caused daily rents to approach 500,000 US dollars; the risk premium was concentrated on medium and larger tankers.