HK Stock Market Move | COSCO Shipping Energy Transportation (01138) rose by nearly 5% again, and ship-to-ship transfer and extended voyage will continue to occupy VLCC capacity.

COSCO Shipping Energy Transportation (01138) has risen nearly 5%, and as of the time of publication, it is up 4.8%, trading at HKD 16.39, with a transaction volume of HKD 141 million. On the news front, according to Seaway Maritime News, in response to the continuous rise in navigation risks in the Strait of Hormuz and the Strait of Mandeb, COSCO Shipping Energy Transportation and China Merchants Energy Shipping are adjusting their tanker deployment in the Middle East. They are maintaining Chinas crude oil imports by loading outside the straits, ship-to-ship transshipments, and alternative ports, and in principle will no longer enter the Persian Gulf for loading. Analysis points out that ship-to-ship transshipments and extended routes will continue to occupy VLCC capacity. China Securities Co., Ltd. released a research report indicating that geopolitical conflicts are driving international oil transportation market rates to rise to high levels. Iran has refused to open the Strait of Hormuz, and the Houthis' attack on a cargo ship on August 11 resulted in six deaths. The Asian market is turning to purchase oil in the Gulf of Oman, where VLCCs are scarce, pushing daily charter rates close to USD 500,000; the risk premium is concentrated on medium-sized and larger oil tankers.