According to the Wisdom Finance APP, marine transportation stocks rebounded in the morning. As of press time, COSCO Shipping Holdings (01919) rose 5%, reporting 13.86 Hong Kong dollars; SITC (01308) rose 4.62%, reporting 21.5 Hong Kong dollars; OOIL (00316) rose 4.35%, reporting 129.5 Hong Kong dollars; and COSCO Shipping Development (02866) rose 2.75%, reporting 1.12 Hong Kong dollars.

On the news front, on June 10, the United Nations passed a proposal for a ceasefire between Israel and Palestine, but this proposal was a product of the United States' active efforts under its own global strategy, and the attitudes of both Israel and Palestine were negative. Huafu Securities pointed out that there is an irreconcilable conflict between the two sides, and the situation is difficult to ease in the short term, which has led to tight shipping space, port congestion, and early entry into the peak season, all of which are the main drivers of shipping companies increasing their prices. The bank also pointed out that in recent times, Dafang and Maersk Line have raised their prices for July shipments. In the short term, the current high shipping prices are expected to continue until the Q3 peak season, and whether the prices will peak in July, as well as the strength of the rebound in cargo after the July rush hour and the intensity of stock replenishment after the expected interest rate cuts in Europe and the United States in the second half of the year, will determine the strength of airline companies' support for prices. If supply and demand are reversed, it will support the full-year performance recovery of integrated shipping companies, and the winner of the global supply chain congestion in 2021 is expected to reemerge. If the conflict in the Red Sea continues for a long time, it may be an opportunity for integrated shipping giants to raise their long-term contract prices and significantly restore their valuations by 2025.

The bank pointed out that Dafang and Maersk Line have raised their prices for July shipments recently. In the short term, the current high shipping prices are expected to continue until the Q3 peak season. Shipping prices may peak in July, and the strength of the rebound in cargo after the July rush hour and the intensity of stock replenishment after the expected interest rate cuts in Europe and the United States in the second half of the year will determine the strength of airline companies' support for prices. If supply and demand are reversed, it will support the full-year performance recovery of integrated shipping companies, and the winner of the global supply chain congestion in 2021 is expected to reemerge. If the conflict in the Red Sea continues for a long time, it may be an opportunity for integrated shipping giants to raise their long-term contract prices and significantly restore their valuations by 2025.