On June 26, COSCO Shipping Energy (01138.HK) declined 4.44% in regular trading, trading at 16.98 HKD/share, with turnover of 44.26 million HKD. The stock extended losses from the prior session's 7% drop.
On the news front, Iran's representative to the UN Geneva office announced on June 23 that the Hormuz Strait has been fully reopened to commercial vessels for 60 days with no charges, while the US Treasury issued a 60-day general license authorizing Iranian oil production and sales. The formal resumption of transit means the detour premium and war risk premium that previously supported elevated tanker rates face substantial erosion. Market concerns center on shortened crude transportation routes and declining ton-mile demand. Additionally, Capesize vessel rates continued to weaken amid easing industrial raw material shipping demand, while falling oil prices further reduced upward momentum for freight surcharges. The stock had surged over 20% in the three sessions prior to the reversal, amplifying profit-taking pressure.
(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.)
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