HK Stock Market Move | COSCO Shipping Energy Transportation (01138) rises nearly 4% again, with the issuance of the third batch of export quotas for refined oil products expected to boost performance during the peak season for imports and exports.

COSCO Shipping Energy Transportation (01138) rose nearly 4% again, up 3.77% to HK$7.99 as of the time of writing, with a turnover of HK$84.04 million. On the news front, COSCO Shipping Energy Transportation has announced that Far East LNG and Far East LNG have signed shipbuilding contracts with CSSC and CSSC Trading for the construction of two vessels, with a total price of approximately RMB 3.46 billion, expected to be delivered in the second half of 2027. These two vessels, built as LNG carriers ordered by the company, will provide customers with more flexible LNG transportation services. Guotai Junan pointed out that the oil shipping market will enter the traditional peak season in October. In addition to winter demand and owners raising prices, refinery quota usage is also one of the reasons for the traditional peak season in Q4. According to Golden Link, the third batch of refined oil export quotas for the year were issued on September 21st, with a quota of 8 million tons. The bank pointed out that with the recent decline in oil prices, refinery operations have increased slightly. The issuance and execution of these quotas this year may help boost the traditional peak season performance of China's crude oil imports and refined oil exports, and support the performance of oil shipping during the traditional peak season.