On June 2, Orient Overseas International fell 3.12% in regular trading to HK$139.6, with turnover of HK$50.21 million. The decline comes after the stock surged over 5% in the prior session, driven by soaring global container freight rates linked to Hormuz Strait disruptions and a 70% spike in bunker fuel costs.

The pullback occurs against a backdrop of cautious industry sentiment. Bank of America Securities maintains an underperform rating on the container shipping sector, citing overcapacity and potential pressure from Red Sea route reopening that could push the industry into losses. Huatai Securities noted most transportation sub-sectors entered their off-season in May, with shipping rates showing clear divergence. Shenwan Hongyuan expects freight rate peaks in July-August, suggesting near-term upside may already be priced in.

Within the Marine sector, COSCO Shipping Holdings fell 1.27% and SITC declined 1.12%, while TS Lines gained 2.71% and LC Logistics rose 3.39%.

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