COMEC (00317) rose more than 7%, reaching a 6.69% gain at press time to trade at HK$14.83, with a turnover of HK$102 million. According to Clarksons Research, global new ship orders in October totaled 2.91 million compensated gross tons (CGT), down 38% year-on-year from 4.71 million CGT. Chinese shipbuilders secured 98 new orders, accounting for 213,000 CGT and a 73% global market share, ranking first. Shenwan Hongyuan noted a divergence between newbuild and second-hand ship price indices, with the latter surpassing the former, signaling a potential supercycle in the shipping and shipbuilding sectors. By late 2024, both second-hand and newbuild prices peaked and retreated, but second-hand prices stabilized in 2025, exceeding pre-2024 highs. In September 2025, the second-hand ship price index crossed above the newbuild index—a rare occurrence since 2000, historically preceding three supercycle rallies.