方正证券指出，展望后市：VLCC强供给约束不变，供给极低增速中枢下需求具备高容错率。短期看，Q4 旺季需求与运价预计环比提振、均值温和抬升。中期看，OPEC 边际增产或仍为重要需求催化。该行重申VLCC 高确定性供需错配下周期上行趋势不改，中期景气度无需悲观，同时关注未来潜在的供应链熵增变量进一步发酵。Cosco Ship Engy (01138) rose over 4%, up 4.19% as of the time of writing, quoted at 6.21 Hong Kong dollars, with a transaction amount of 47.7127 million Hong Kong dollars.
According to the Zhitung Finance APP, Cosco Ship Engy (01138) has risen over 4%, up 4.19% as of the time of writing, quoted at 6.21 Hong Kong dollars, with a transaction amount of 47.7127 million Hong Kong dollars.
On the news front, on December 5, China Pacific Insurance released an information disclosure announcement, stating that on November 29, its controlling subsidiary, Taibao Life Insurance, bought 0.996 million shares of Cosco Ship Engy listed in Hong Kong through the Hong Kong Stock Connect. As of the trading day, China Pacific Insurance and its subsidiaries collectively held 65.304 million shares of Cosco Ship Engy listed in Hong Kong, accounting for 5.04% of the issued capital of this listed company, triggering a disclosure requirement. It is reported that as of the close on December 5, the stock price of Cosco Ship Engy listed in Hong Kong was 5.96 Hong Kong dollars per share, with the latest dividend yield at 10.49%.
Founder Securities pointed out, looking forward to the future market: the strong supply constraints of VLCC remain unchanged, while the supply has a very low growth rate with a high tolerance for demand. In the short term, the demand and freight rates in Q4 are expected to increase month-on-month, moderately lifting the averages. In the medium term, OPEC's marginal increase in production may still be an important catalyst for demand. The firm reiterated that under the high certainty supply-demand mismatch of VLCC, the upward trend of the cycle remains unchanged, and there is no need for pessimism regarding the medium-term outlook, while also paying attention to the potential future fermentation of supply chain entropy variables.
