HK Stock Market Move | COSCO SHIPPING Energy Transportation (01138) fell nearly 5% in morning trading; the crude oil tanker freight rate index has dropped significantly over the past two weeks, while spot freight rates remain at relatively high levels.

COSCO SHIPPING Energy Transportation (01138) fell nearly 5% in morning trading. As of press time, it was down 4.37% at HK$15.55, with turnover of HK$315 million. On the news front, Shipping Information Network on October 27, citing Lloyd's List, reported that the crude oil tanker freight rate index has fallen significantly over the past two weeks, but most of the spot freight rate increases since early September have still been retained, and spot freight rates remain at levels unimaginable before the Hormuz crisis; increased ship-to-ship transfers in the Gulf of Oman have also reduced vessel turnaround efficiency and tightened effective capacity. EB SECURITIES believes that although crude oil tanker freight rates have retreated from their highs, spot freight rates remain at relatively high levels, and the subsequent trend will depend on the navigation environment in the Strait of Hormuz, vessel turnaround efficiency, and changes in cargo volumes; for refined oil product freight rates, attention should be paid to changes in cargo volumes and capacity supply and demand. It recommends paying attention to COSCO SHIPPING Energy Transportation and China Merchants Energy Shipping.