Changes in Hong Kong stocks | COSCO Marine (01138) rose more than 6%, and the geographical situation worsened, VLCC tariffs jumped again, and institutions are optimistic about the advent of a major oil transportation cycle

The Zhitong Finance App learned that COSCO Hainan (01138) rose more than 6%. As of press release, it had risen 5% to HK$19.33, with a turnover of HK$85,1682 million.

According to the news, the geographical situation in the Middle East has once again intensified. The Houthis have stepped up their crackdown on Saudi energy facilities and taken control of strategic locations on the west coast of Yemen. Ship traffic in the Mander Strait has been drastically reduced, and oil prices have soared or further driven demand for emergency transportation. Combined with war risk premiums continuing to soar, freight rates on major routes have once again jumped sharply. According to reports, the Middle East-China VLCCTCE continued to rise sharply to 982,000 US dollars/day. The US Gulf and West Africa routes simultaneously increased markedly. The US Gulf - China rose to 270,000 US dollars/day, and West Africa - China rose to 411,000 US dollars/day.

Huachuang Securities pointed out that it continues to be optimistic about the advent of a major oil transportation cycle. In the short term, in the current context where the cracking price spread for overseas refined oil products is still high, if the upward trend in domestic refined oil exports continues and the peak season gradually approaches, it is expected to drive the freight rate of crude oil tankers and refined oil tankers to resonate upward. In the medium to long term, inventory replenishment+Iranian oil shift to a compliant market+inventory expansion and import decentralization constitute three major demand-side increases. Eliminating old supply-side capacity is expected to hedge against new ship deliveries. Changjin Merchant Marine's VLCC is a pattern logic that cannot be ignored in the market.