COSCO SHIP ENGY Surges Over 7% in Early Trading as China's Largest Tanker Operator

Deep News
Oct 13

COSCO SHIP ENGY (01138) shares jumped 7.13% in early trading, reaching HK$9.77 with trading volume of HK$396 million.

JPMorgan previously noted that COSCO SHIP ENGY is China's largest tanker operator and one of the world's leading crude oil, refined petroleum products, and liquefied natural gas (LNG) transportation companies. As the energy transportation arm of China COSCO Group, the company operates a diversified fleet. Its scale, relatively young fleet age structure, and expanding LNG business provide downside protection in volatile freight markets while positioning the company to benefit from multi-year upcycles. The bank forecasts the company's net profit compound annual growth rate of 16% from 2025 to 2027, supported by freight recovery, structural supply-demand catalysts, and prudent fleet expansion.

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