On October 2, COSCO SHIP ENGY rose 4.32% in regular trading, trading at 19.07 HKD/share, with turnover of approximately HKD 62.29 million, extending its recent rebound momentum.

On the news front, multiple institutions have recently issued bullish calls on the oil tanker shipping sector. Hormuz Strait dark-fleet operations and Red Sea rerouting continue to erode tanker transport efficiency, while Middle Eastern oil-producing nations maintain strong crude export demand. As of September 24, TD3C TCE stood at USD 1.2354 million per day, with VLCC rates holding at elevated levels. Morgan Stanley reiterated its overweight rating with a target price of HKD 28.4, while JPMorgan also reaffirmed its overweight rating, noting H-share P/E of approximately 11x under a USD 100,000 per day base case, with significant earnings upside potential.

The stock had previously pulled back over 5%, and the release of short-term profit-taking pressure, combined with institutional bullish signals resonating with high freight rates, has supported the price recovery. In the first half of the year, the company reported revenue of RMB 15.079 billion, up 30.26% year-on-year, with adjusted net profit of RMB 4.556 billion, surging 140.58%.

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