CSSC Offshore & Marine Engineering (00317) rose more than 5% in early trading, with a cumulative increase of more than 45% this year. As of the press time, it rose 5.2% to HKD 15.22, with a turnover of HKD 25.57 million.
According to the Smart Finance app, CSSC Offshore & Marine Engineering (00317) rose more than 5% in early trading, with a cumulative increase of more than 45% this year. As of the press time, it rose 5.2% to HKD 15.22, with a turnover of HKD 25.57 million.
In terms of news, Brazil's national oil company awarded a $5 billion FPSO contract to a Singaporean offshore engineering company, which is the largest FPSO contract in the world to date. The ship bodies and living modules for 2 FPSOs will be built in shipyards in China, Singapore, and Brazil. In addition, South Korea's largest auto transportation company, Hyundai Glovis, has placed orders for 6 of the world's largest auto transportation ships with China State Shipbuilding Corporation International. It is reported that CSSC Offshore & Marine Engineering owns two shipyards, Huangpu Wenchong and Guangzhou Shipyard International, through its holding of Huangpu Wenchong. It also has shares in Guangzhou Shipyard International.
GF Securities pointed out that the downstream shipping industry's prosperity exceeded expectations, and the joint shipping prices have risen significantly due to multiple driving factors. This has led to the improvement of shipowners' profit centers, and container shipowners have been actively inquiring and placing orders for new and second-hand ships due to the recent rise in prices. The bank pointed out that under the drive of the improvement of shipowners' profit centers, the gradual digestion of phase excess shipping capacity, the imbalance of ship type and shipowner ordering structure, and the drive of environmental protection, there may be a second wave of container ship orders, which is expected to resonate with the two other main orders of oil ****rs and bulk carriers, and the shipbuilding industry has a long-lasting and upward momentum in its cycle.