HK Stock Market Move | COSCO Shipping Energy Transportation (01138) rises by more than 5% again, with the stock price increasing by more than 60% since the beginning of the year. Oil shipping rates remain at a high level.

COSCO Shipping Energy Transportation (01138) rose over 5% again, with the stock price rising more than 60% since the beginning of the year. As of the time of writing, it rose by 5.04%, reaching HK$16.06, with a turnover of HK$2.35 billion. In terms of news, Caitong pointed out that after years of business restructuring and integration, COSCO Shipping Energy Transportation has now built a new integrated chain operation pattern of oil, gas, chemicals, and storage. Oil transportation is the company's core business, with revenue accounting for over 80% in the past decade. Foreign trade crude oil and foreign trade refined oil transportation contribute mainly to profit elasticity, while domestic oil transportation and LNG transportation build the profit foundation. As of September 2025, in terms of unified converted deadweight tonnage, the percentages of oil tankers, LNG ships, chemical ships, and LPG ships are 83.2%, 16.5%, 0.3%, and 0.1% respectively. Guotai Haitong stated that two phases have achieved the "super bull market" for oil transportation. The first phase: geopolitical conflicts drive global crude oil trade restructuring, with Russia and Europe "seeking further distances" extending the shipping distance, driving the prosperity of oil transportation to rise across years for over three years, and capacity utilization reaching a threshold. The second phase begins: global crude oil production is increasing, driving continued growth in oil transportation demand. The bank believes that oil transportation prices have soared since September and are maintaining high levels, with oil tankers in Q4 2025 and the full year expected to achieve a ten-year high in profitability. It is expected that the prosperity of oil transportation will continue to exceed expectations in 2026, and it has the option for oil price to fall.