COSCO SHIP ENGY (01138) opened sharply higher by nearly 11% in morning trading. At the time of writing, the stock was up 4.57%, trading at HKD 19.69 with a turnover of HKD 451 million.
Dongxing Securities noted that even before recent geopolitical escalations, the tanker shipping market was already in a state of high prosperity. Since the beginning of this year, the crude oil shipping sector has seen continuously improving market conditions. The industry is currently in a relatively certain upward cycle. With external catalysts, the average freight rate for the industry in 2026 is expected to exceed expectations.
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