On July 14, COSCO Shipping Energy (01138.HK) fell 4.4% in regular trading, trading at HKD 11.89, with turnover of HKD 95.87 million, extending a multi-day selloff driven by escalating Middle East geopolitical risks.
On the news front, Iran's Islamic Revolutionary Guard Corps announced an indefinite closure of the Hormuz Strait on July 12, declaring no vessels may transit until further notice. The US military subsequently launched its third round of strikes on Iranian military targets within a week, hitting over 140 objectives. The strait, which handles approximately one-fifth of global oil and LNG shipments, saw commercial shipping flows drop sharply following Iran's declaration. War risk insurance premiums have surged to 2%-6% of vessel value, compared to 0.2%-0.25% pre-conflict.
Meanwhile, the company disclosed H1 net profit of approximately RMB 4.5 billion, up 141% YoY, but implied Q2 profit grew only 7% QoQ, reflecting operational constraints from the geopolitical disruption. BlackRock also reduced its stake from 9.38% to 7.54% in recent weeks, adding institutional selling pressure.
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