On June 1, COSCO Shipping Energy (01138.HK) fell 4.94% in regular trading, trading at HK$15.21/share, with trading volume of HK$362 million, extending a multi-session decline.

On the news front, the Strait of Hormuz blockade lacks a substantive breakthrough, with passage volume remaining at low levels. The oil shipping market is in an overall oversupply state amid the industry off-season, with VLCC cargo volumes for March through May declining 54% year-over-year. Additionally, the company recently announced a RMB 10.18 billion capital increase to its subsidiary for constructing VLCCs and Aframax crude tankers, alongside signing approximately RMB 8 billion in LR2 newbuilding lease contracts, raising market concerns over future cash flow pressure.

Institutional activity further intensified selling pressure. JPMorgan reduced its long position by 841,500 shares on May 20, while Bank of America cut its stake from 5.91% to 3.52% as of May 26, signaling cautious sentiment among major holders toward the stock.

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