Shares of COSCO SHIP ENGY Experience Further Decline Amidst Regional Tensions

Stock News07-13 11:10

Shares of COSCO SHIP ENGY (01138) have fallen by more than 5% again. At the time of writing, the stock is down 5.12%, trading at HK$12.41 with a turnover of HK$125 million.

Recent developments in the Middle East are contributing to market sentiment. Tensions between the US and Iran have escalated further. US forces have struck approximately 140 Iranian military targets. In response, Iran has launched a series of attacks on US targets in the region. The situation regarding passage through the Strait of Hormuz is unclear, with US military statements indicating that transit "continues" while Iranian sources claim the strait is currently closed. Following Iran's announcement of another closure of the Strait of Hormuz, commercial shipping traffic through the critical waterway has seen a significant decline.

On a separate note, COSCO SHIP ENGY has issued a positive profit alert. The company anticipates its net profit for the first half of the year to increase by approximately 141% year-on-year, with freight rates across all vessel types being notably higher than levels seen in the corresponding period of 2025. Based on publicly available data, the company reported a first-quarter net profit of RMB 2.173 billion. Calculations based on the forecast suggest a second-quarter net profit of around RMB 2.327 billion, indicating an expected sequential growth of about 7%.

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