Movement Alert｜COSCO SHIP ENGY Rises 3.01% in Regular Trading, Morgan Stanley Reiterates Overweight as VLCC Rates Surge

Market Focus09-21

On September 21, COSCO SHIP ENGY rose 3.01% in regular trading, trading at HK$19.84/share, with turnover of HK$190 million.

On the news front, Morgan Stanley recently reiterated its Overweight rating on COSCO SHIP ENGY with a maintained target price of HK$26, projecting Q3 earnings to improve sequentially driven by higher freight rates and fleet utilization. Management noted that the sharp rally in VLCC spot rates primarily reflects a significant tightening of effective capacity against rising export demand, with the TD3C Middle East-China route TCE approaching the $1 million/day mark amid escalating Middle East geopolitical tensions. The company holds orders for 6 VLCCs and has 6 bareboat-chartered VLCCs scheduled for delivery in 2027-2028, though management remains cautious on charter expansion.

Additionally, BlackRock raised its stake in COSCO SHIP ENGY H-shares to 6.63% on September 14, signaling institutional confidence. The company reported robust H1 results with revenue of RMB 15.146 billion, up 30.03% year-over-year, and net profit of RMB 4.545 billion, surging 143.21%. The company is also holding its H1 earnings briefing today.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Management noted that the sharp rally in VLCC spot rates primarily reflects a significant tightening of effective capacity against rising export demand, with the TD3C Middle East-China route TCE approaching the $1 million/day mark amid escalating Middle East geopolitical tensions. The company holds orders for 6 VLCCs and has 6 bareboat-chartered VLCCs scheduled for delivery in 2027-2028, though management remains cautious on charter expansion.</p><p>Additionally, BlackRock raised its stake in COSCO SHIP ENGY H-shares to 6.63% on September 14, signaling institutional confidence. The company reported robust H1 results with revenue of RMB 15.146 billion, up 30.03% year-over-year, and net profit of RMB 4.545 billion, surging 143.21%. The company is also holding its H1 earnings briefing today.</p><p>(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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