HK Stock Market Move | COSCO Shipping Energy Transportation (01138) rose more than 8% in the afternoon, with market concerns that oil shipping is of great value but no quantity. Current shipping prices remain significantly higher than historical highs.

COSCO Shipping Energy Transportation (01138) rose more than 8% in the afternoon, rising 6.43% to HK$18.7 as of press time, with a turnover of HK$481 million. On the news front, according to British sources on the 16th, there were no ships passing through the Strait of Hormuz on the 14th, for the first time since the United States and Israel launched military action against Iran. Data from the maritime data analysis service company "Windward" stated: "On the 14th, the number of ships passing through the Strait of Hormuz dropped to zero for the first time since the conflict. Before the war, an average of 77 ships passed through the strait every day." Changjiang released a research report stating that with the closure of the Strait of Hormuz and limited alternatives for Middle Eastern pipelines, the apparent demand for VLCC tankers may decrease by 33%, while supply decreases by about 11%, leading to expectations of market transactions being price-driven but quantity-limited. However, the TCE for Clarkson VLCC from the beginning of the year is $141,000 per day, which is still significantly higher than the historical peak of $65,000. The report pointed out that in the short term, with expectations of rising prices and shrinking quantities, tanker stocks may stagnate; in the medium term, the anticipated oil restocking cycle will bring a demand pulse; in the long term, with the continuation of the logic of demand normalization and Longjing Merchant Shipping controlling long positions, the oil shipping market will enter a phase of high prices and increased quantities.