Zhitong Financial APP learned that shipping stocks were higher in early trading. As of press time, COSCO Shipping Holdings (01919) rose 4.52% to HK $12.94; Pacific Shipping (02343) rose 4.43% to HK $4.24; Cosco Haifa (02866) rose 3.38% to HK $1.53; SITC International Holdings (01308) rose 2.5% to HK $26.7.

On the news side, the Baltic dry bulk index continued its recent strength, rising another 3.1 per cent to 3289 points on Thursday, the highest since December 9. Industry insiders said that dry bulk shipping benefits from the war between Russia and Ukraine, and the global demand for raw materials transport is heating up, which is expected to bring a wave of rising quotations in the second half of the year. Dry bulk shipping will enter the traditional peak season in the second half of the year, and it is expected that the shortage of ships will continue. In addition, the recent epidemic prevention and control has led to the continuation of port congestion in major ports and crew shifts, which have led to a decline in ship turnover and affected the supply of ship capacity.