HK Stock Market Move | Shipping stocks rise again with OOIL (00316) up nearly 8%. Shipping companies recently announced price increase letters for January.

Shipping stocks rose again, as of the time of writing, OOIL (00316) rose 7.89% to 116.2 Hong Kong dollars; Pacific Shipping (02343) rose 4.29% to 1.7 Hong Kong dollars; COSCO Shipping Holdings (01919) rose 4.25% to 12.76 Hong Kong dollars; SITC (01308) rose 3.98% to 20.4 Hong Kong dollars. In terms of news, recently, shipping companies announced a new round of rate adjustments for January 2025. Maersk, CMA, HMM, and other shipping companies have successively adjusted rates on some routes. Maersk announced that it will increase FAK rates from the Far East to the Mediterranean starting from December 30, 2024. Huatai Futures believes that overall, the rate increase letters for January have been published, considering the significant increase in capacity supply in January and the trend of freight rates in January-March in previous years, the bank believes that the peak of this rate hike may have already occurred, and investors need to change their investment mindset, with spot prices expected to fluctuate downwards in the future. Furthermore, EB SECURITIES recently pointed out that due to the tense geopolitical situation and mismatch in shipbuilding cycles, shipping prices will remain high and volatile in 2024. Looking ahead to 2025, geopolitical risks still exist, and they continue to be optimistic about the investment value of shipping and oil transportation in the long term under the big shipping cycle. In terms of the macro environment, the low interest rate environment is expected to continue, with the continuous highlighting of the value of dividend asset allocation, and continued attention to the allocation value of the shipping and high dividend sectors.