China Merchants Energy Shipping Inks 10 Billion Yuan Deal With QatarEnergy

China Merchants Energy Shipping (SHA:601872), through its subsidiary China Merchants Qiyun, signed a 10 billion yuan contract to build and lease four liquefied natural gas (LNG) carriers to QatarEnerg

MT Newswires23:39 ET

Zhitong Hong Kong Stock Investment Calendar | May 7

Hong Kong Stock Investment Calendar | May 7, 2024

Zhitong Finance12:00 ET

China Merchants Shipping (601872.SH): Signed long-term transportation and shipbuilding agreement for Qatar Energy LNG transportation project

Gelonghui, May 6 | China Merchants Shipping (601872.SH) announced that recently, four single shipping companies under China Merchants Gas Transport and Qatar Energy held a 25+5-year “Long-term Transportation Agreement” signing ceremony for 4 QCMAX LNG carriers in Beijing. After the ceremony, the two sides signed a separate agreement, which came into effect on May 2. On the same day, the “Ship Construction Agreement” with Hudong Shipyard for 4 QCMAX LNG carriers was signed and entered into force. The total cost of the ship was approximately RMB 10 billion.

Gelonghui FinanceMay 6 05:34 ET

Bank Rating | Goldman Sachs: Slightly raised the target price of COSCO Offshore Holdings H shares to HK$6.9 to give a “sell and sell” rating

According to a research report published by Goldman Sachs, COSCO Offshore's net profit for the first quarter was 6.8 billion yuan, a marked improvement from 1.8 billion yuan in the fourth quarter of 2023, but it is still slightly lower than 7.1 billion yuan in the same period last year, in line with market expectations and management's guidelines for profits to remain basically flat. Looking ahead, the bank believes that some ports in the western Mediterranean are already congested, while India and Latin America may become new drivers of demand, and there is a risk that freight rates will rise next quarter. The bank updated its latest liner shipping volume and freight rate assumptions, and lowered its net profit from 2024 to 2026 by 8% to a 13% increase, and slightly raised the company's H share target price to HK$6.9.

Gelonghui FinanceMay 5 22:37 ET

Changes in Hong Kong stocks | COSCO Haineng (01138) rose more than 5%, Q1 deducts non-net profit, and increases by nearly 40%. Central rate expectations for peak season in the second half of the year are optimistic

The Zhitong Finance App learned that COSCO Hainan (01138) rose by more than 5%. As of press release, it had risen 4.29% to HK$9.75, with a turnover of HK$763,619 million. According to the news, COSCO Haineng previously announced its results. In the first quarter, the company achieved operating income of 5.838 billion yuan, up 3.7% year on year; net profit to mother was 1,236 billion yuan, up 12.8% year on year. Of this, net profit without return to mother was 1,236 billion yuan, an increase of 39.8% over the previous year. Guotai Junan pointed out that in 2024, the capacity utilization rate of the oil transportation market has reached a threshold, supply and demand will continue to improve, while production cuts and oil prices will be affected marginally

Zhitong FinanceMay 5 22:04 ET

Does China Merchants Energy Shipping (SHSE:601872) Have A Healthy Balance Sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' When we think about how

Simply Wall StMay 5 20:08 ET