On January 2, Gelonghui reported that GTJA's Research Reports indicated that COSCO SHIP ENGY (600026.SH) announced plans to gradually increase its investment in CLNG, and the stable return LNG business scale will continue to grow, continually strengthening the company's profit foundation. It is expected that the future oil transportation supply and demand may be better than expected, indicating a downturn in oil price options. The rating remains as "Shareholding". The company is an industry leader with excellent operational capabilities, likely to continue achieving charter rates above the industry average. It is noted that the company's VLCC fleet size has decreased year-on-year, and the refinery oil transportation prosperity has declined year-on-year, leading to expectations of pressure on performance in Q4 2024 compared to the previous year, with market expectations already being fairly sufficient. Furthermore, the company is seizing opportunities to gradually increase the LNG fleet size, currently controlling 48 vessels, with 41 vessels pending delivery. In 2023, the LNG business contributed a Net income of nearly 0.8 billion yuan, and in the future, with the delivery of new ships, it will continue to strengthen the company's profit foundation.