Changes in Hong Kong stocks | COSCO Haineng (01138) rose more than 5%, the oil transportation industry boom still supports logic, and tanker performance is expected to increase significantly in the fourth quarter

The Zhitong Finance App learned that COSCO Marine (01138) rose by more than 5%. As of press release, it had risen 5.48% to HK$17.52, with a turnover of HK$320 million.

According to the news, COSCO Haineng's revenue for the third quarter of this year was 10.097 billion yuan, up 82.89% year on year; net profit to mother was 2,844 billion yuan, up 235.04% year on year, up 19.9% month on month. Shen Wan Hongyuan said that net profit for the 3rd quarter was slightly lower than the bank's forecast of 3.32 billion yuan, mainly due to an increase in tax rates. From the beginning of September to October 23, the average VLCC freight rate was about 556,000 US dollars/day, a sharp increase of 270% over the third quarter. It is expected that tanker performance will increase significantly in the fourth quarter.

Orient Securities believes that although crude oil exports to the Middle East have clearly recovered at present, cross-channel connections, ship-to-ship transfers, and waiting for loading and unloading continue to occupy ships. The bank believes that the impact of the geographical conflict on oil transportation is more reflected in continuous turnover losses; even if the conflict does not escalate further, as long as the risk of blockades and ship attacks and inefficient transit arrangements continue, it will be difficult for cargo volume recovery to simultaneously release effective capacity. “Recovery of cargo volume and damage to effective supply” is still the core logic supporting the industry's prosperity.