On October 13, COSCO SHIP ENGY rose 3.06% in regular trading, trading at HK$20.84, with turnover of HK$133 million. The advance was driven by reports that oil tanker freight rates have surged to their highest level in sixty years, with recurring tensions in the Strait of Hormuz adding a risk premium to freight costs.

The reference information indicates that frequent vessel attacks have made repairs difficult, further reducing effective VLCC capacity and pushing rates higher. While prior institutional share reductions had pressured sentiment, the strong earnings outlook under elevated freight rates is gradually offsetting that drag. Several major banks have recently raised target prices and maintained positive ratings on the stock, citing robust VLCC market conditions.

COSCO SHIP ENGY is a Chinese company engaged in the marine transportation of bulk liquid hazardous cargoes, including crude oil, refined oil, LNG, LPG, and chemicals, operating in domestic and overseas markets.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)