The Zhitong Finance App learned that COSCO Hainan (01138) fell by more than 4%, down 4.79% at press time, to HK$8.35, with a turnover of HK$3.201 million.
According to the news, a few days ago, leading shipping companies, including Maersk, Dafei, and Hapag-Lloyd, issued price increase notices one after another, announcing increases in freight rates for a number of Asian export routes. The increase was as high as $2,000, an increase of nearly 70% compared to current freight rates. The reporter interviewed a number of freight forwarding companies and learned that at present, actual prices have not risen, and even some product line prices have declined. The reason is that the current market is still in a state where supply exceeds demand. Interviewees generally believe that the shipping market lacks momentum for sharp price increases now and for at least two to three quarters in the future, and prices are expected to maintain a relatively stable trend.
Guoxin Securities pointed out that the oil transportation industry is currently in a traditional low season, and abnormal demand during the Spring Festival has recently been overdrawn, and freight rates have entered a rapid downward phase in the short term, but considering the limited supply growth in the industry in 2024, the bank is still optimistic that the freight rate center will rise further during the year compared to 2023. Currently, supply and demand in the industry have entered a tight balance. Once OPEC stops cutting production or major countries begin to replenish stocks, it is expected that freight rates will rise rapidly.