Shipping stocks continued their recent gains. As of press release, COSCO Overseas International (00316) rose 6.95% to HK$138.5; COSCO Offshore (01919) rose 5.47% to HK$12.34; COSCO Haifa (02866) rose 4.21% to HK$0.99; and Haifeng International (01308) rose 3.74% to HK$19.98.
The Zhitong Finance App learned that shipping stocks continued their recent gains. As of press release, Dongfang Overseas International (00316) rose 6.95% to HK$138.5; COSCO Offshore (01919) rose 5.47% to HK$12.34; COSCO Haifa (02866) rose 4.21% to HK$0.99; and Haifeng International (01308) rose 3.74% to HK$19.98.
According to the news, in the context of price increases of existing two-wheel liner companies in May, Maersk recently announced that it will start raising prices in June. Market analysts pointed out that currently there is limited idle capacity in the market, especially in the context of Red Sea detours. The current capacity appears to be relatively insufficient, and the detour effect is becoming more and more obvious. Notably, Maersk previously warned that the Red Sea crisis could reduce capacity by 20% in the second quarter.
Furthermore, on May 13, the intraday increase of the main contract of the European shipping line increased to 8%, and the price of multi-contract futures reached a record high. CITIC Futures said that in the context of long-term detours, supply and demand on the European route are tight, and there is room for continued upward growth in EC2406 and EC2408 contract valuations.