HK Stock Market Move | COSCO SHIPPING Energy Transportation (01138) rises over 3%, VLCC freight rates still fluctuating at high levels, institutions bullish on oil shipping maintaining prosperity in the short term.

COSCO SHIPPING Energy Transportation (01138) rose over 3%, up 3.42% as of press time, at HK$18.43, with a turnover of HK$169 million. On the news front, the Baltic Exchange's weekly report dated September 25 showed that on September 24, the TD3C TCE was $1.2354 million/day, with WS quotes on the Middle East route edging down slightly from last Friday; this week, the period-end TCE for TD15 and TD22 were $507,100/day and $407,100/day respectively, with the West Africa route pulling back while the US Gulf route continued to strengthen. Sinolink believes that the current phase is one of US-Iran brinkmanship, with repeated strait closure situations affecting market confidence; combined with new geopolitical risks emerging in the Red Sea region, the market is still repeating this logic in the short term: strait passage obstructed -> oil supply tightens + ships divert for safety -> oil shipping rates rise; therefore, the bank believes oil shipping will maintain prosperity in the short term.