Shipping stocks continued their recent gains. As of press release, COSCO Overseas International (00316) rose 3.56% to HK$122.2; COSCO Haifa (02866) rose 2.5% to HK$0.82; Haifeng International (01308) rose 2% to HK$13.28; COSCO Marine Holdings (01919) rose 1.06% to HK$8.62; COSCO Marine (01138) rose 1.08% to HK$7.81.
The Zhitong Finance App learned that shipping stocks continued their recent gains. As of press release, COSCO Overseas International (00316) rose 3.56% to HK$122.2; COSCO Haifa (02866) rose 2.5% to HK$0.82; Haifeng International (01308) rose 2% to HK$13.28; COSCO Marine Control (01919) rose 1.06% to HK$8.62; COSCO Marine (01138) rose 1.08% to HK$7.81.
According to the news, on February 19, local time, the Houthis in Yemen issued a statement saying that they had carried out successive missile attacks on a British freighter and two American freighters sailing in the Gulf of Aden. Maersk previously released financial results for the fourth quarter and full year of 2023. According to financial reports, Maersk's revenue for the fourth quarter of last year was 11.741 billion US dollars, down 34% from the previous year; Maersk also said that since the Red Sea route is still threatened by the Houthis in Yemen, it is not expected that it will be possible to resume navigation in the Red Sea in the short term.
Everbright Securities pointed out that oil and freight rates increased sharply month-on-month in January, the situation in the Red Sea continued to ferment to provide additional driving force, and dry freight rates experienced seasonal declines. As far as shipping is concerned, the Red Sea incident has caused most container ships to bypass the Cape of Good Hope, but the impact of the detour has not been fully realized. If the situation in the Red Sea continues, the above problems may continue to be realized during the peak season from July to August; in the long run, they still cannot be ignored. If the Red Sea situation is mitigated, the contradiction of oversupply in the shipping market will reappear. As far as oil transportation is concerned, refinery construction gradually resumed after the Spring Festival. Combined with the previous import and export quota reduction, crude oil import and export demand is expected to continue to rise; there is strong certainty about the long-term improvement in the oil transportation supply and demand relationship, and the freight center is expected to continue to rise.