HK Stock Market Move | COSCO Shipping Energy Transportation (01138) rebounds by over 6%. The company has ordered two LNG transport ships. The oil shipping market will enter its traditional peak season since October.

COSCO Shipping Energy Transportation (01138) rebounded by more than 6%, as of the latest report, it rose by 5.01%, reaching 7.55 Hong Kong dollars, with a turnover of 343.55 million Hong Kong dollars. On the news front, COSCO Shipping Energy Transportation announced that it has signed shipbuilding contracts with COSCO Shipping Heavy Industry and China Ship Trading for the construction of two ships, with a total contract value of approximately 3.46 billion yuan, expected to be delivered in the second half of 2027. The two ships being built this time as LNG carriers ordered independently by the company will provide customers with more flexible LNG transportation services. Guotai Junan released a research report stating that the recent fall in oil prices may be more due to the recovery of Libyan crude oil supply and the possibility of increased production by OPEC+ in addition to economic concerns. Considering the resilience of traditional energy, if the increase in oil production is effectively implemented, the decline in oil prices is expected to drive continued growth in oil transportation demand, even exceeding expectations. In the short term, trade rhythm dominates spot freight rates, and the oil transportation market will enter the traditional peak season from October, with the industry generally expecting peak season freight rates to continue to rise; in the medium term, the rise in period charter levels and shipowners' operating strategies fully reflect the industry's general expectation that the oil transportation market will continue to improve in the coming years.