Information from the Hong Kong Stock Exchange reveals a significant share transfer activity for COSCO SHIP ENGY (ASX: 01138) on July 8. The total value of shares transferred amounted to HK$628 million, representing 3.58% of the holdings. A shareholder moved 33.834 million shares into Bright Smart Securities and transferred 34 million shares out of Bank of East Asia (ASX: 00023).

In related news, global energy markets are facing uncertainty. Reports indicate that maritime traffic through the Strait of Hormuz has "virtually ceased." A senior geopolitical analyst at Rystad Energy noted in a report that the day's transit situation "appears to be at a complete standstill," suggesting that current market risk perception reflects the situation more accurately than official statements from Washington or Tehran.

The full reopening of the Strait of Hormuz is critical for the global energy market. Prior to recent tensions, approximately one-fifth of the world's oil and liquefied natural gas supplies were transported via this waterway. With the prospects for the strait's reopening becoming more uncertain, global oil prices experienced a sharp increase on Wednesday.