COSCO Shipping Energy Transportation (HKG:1138, SHA:600026) expects attributable profit of around 4.5 billion yuan for the six months ended June 30, up 141% from 1.87 billion yuan, as restated, a year prior.
The company attributed the forecast to significantly higher freight rates for all vessel types, according to a Friday Hong Kong bourse filing.
Other reasons included the activation of a regional emergency response plan for the Middle East and efficient communication with customers, as well an adjustment in the operating routes of various vessel types.
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.
Comments