Oriental Overseas International (00316) rose more than 5% in early trading. As of press release, it was up 5.52% to HK$114.7, with a turnover of HK$51.7816 million.
The Zhitong Finance App learned that Dongfang Overseas International (00316) rose by more than 5% in early trading. As of press release, it had risen 5.52% to HK$114.7, with a turnover of HK$51.7816 million.
According to the news, on April 29, EC2404, the first contract for the shipping index (European line) futures, was successfully completed. The first contract, EC2404, had a settlement price of 2152.8 points, a delivery volume of 1,640 lots, and a delivery amount of 177 million yuan. Industry insiders pointed out that after the EC2404 delivery of the first contract is completed, the complete process of listing, trading, settlement, and delivery will be completed, and the market's understanding and understanding of the operation and function of the shipping index (European line) futures will be more in-depth and comprehensive.
In addition, several airlines, including MSC, Maersk, and Dafei, have recently announced increases in European fares in May, boosting market sentiment. CICC released a research report saying that freight rates have continued to rise recently due to continued Red Sea detours, increased demand for US routes, shipping companies' capacity control, and pre-May Day shipments. As of April 26, SCFI's US-Western-West and European freight rates increased 13.4%/16.7% from week to week, and increased 147.9%/161.1% year over year. Meanwhile, several shipping companies recently announced price increases. Affected by detours, freight rates may remain high in the short term, increasing the certainty of profits and dividends for shipping companies this year.