Changes in Hong Kong stocks | Dongfang Overseas International (00316) rose nearly 3% at the end of the session, revenue for the second quarter increased by nearly 20% year-on-year, and the feasibility of resuming navigation in the Red Sea has yet to be verified

The Zhitong Finance App learned that Dongfang Overseas International (00316) rose nearly 3% at the end of the session. As of press release, it had risen 2.63% to HK$144.6, with a turnover of HK$164 million.

According to the news, Oriental Overseas International announced that in the second quarter, it achieved revenue of 2.54 billion US dollars, an increase of 19.8% year on year; total cargo volume reached 2.1135 million TEU, up 8.8% year on year; capacity increased 6.3% year on year, and overall carrying rate increased 1.9 percentage points over the same period last year; and the average freight rate for a single box was 1,188 US dollars, up 10.1% year on year. In the first half of the year, cumulative revenue of US$4.68 billion was achieved, up 5.5% year on year; total cargo volume increased by 5.2% year on year.

Notably, international shipping giants Maersk and Hapag-Lloyd said earlier this month that they would resume some route services via the Suez Canal under the Gemini shipping network jointly operated by the two parties. Relevant news once boosted expectations for the resumption of flights and dragged down freight prices. However, the current geological situation is once again in turbulence. Iran has requested the Houthis in Yemen to prepare to block oil transportation routes in the Red Sea once the US attacks Iran's electricity infrastructure. The viability of resuming navigation in the Red Sea has yet to be verified.