COSCO Marine (01138) rose nearly 6% in early trading. As of press release, it was up 3.74% to HK$10.54, with a turnover of HK$134 million.
The Zhitong Finance App learned that COSCO HNA (01138) rose nearly 6% in early trading. As of press release, it had risen 3.74% to HK$10.54, with a turnover of HK$134 million.
According to media reports, according to media reports, the FFA market showed that on the night of 0508, during the off-season period in the oil transportation market, the VLCCTD3C price jumped; the Clarkson Oil Transportation Index showed that the average profit for tankers on 0503 was 4,1088 US dollars/day, +13.87% year-on-year, and +3.32% month-on-week.
Changjiang Securities pointed out that since '24, crude oil transportation, especially VLCC, has maintained a high price center, confirming the upward trend of the cycle and providing a good foundation for the cycle to explode. Despite a small number of new VLCC orders in the short term, this did not change the 24-27 supply constraint situation, and the medium-term supply gap still exists. At the same time, 24 is a global super election year. Oil transportation is full of geopolitical options, and reduced efficiency and fear of inventory replenishment will drive the market. In the context of the fragmentation of the geographical landscape, tankers highlight the value of the times.
Guotai Junan pointed out that in 2024, the capacity utilization rate in the oil transportation market has reached a threshold, supply and demand will continue to improve, while the impact of production cuts and oil prices has weakened marginally, and the pace of trade has returned to normal. It suggests the high base effect of 24Q2. At the same time, shipowners are optimistic about the central freight rate expectations for the peak season in the second half of the year, and the profit center will continue to rise. The bank indicated that COSCO Marine Energy's dividend rate will increase to 50% in 2023. Considering the impact of 2023 and the upward trend in the industry over the next two years, it is expected that the company's shareholder returns will continue to improve in the future.