On September 8, COSCO SHIP ENGY rose 3.29% in regular trading, trading at HK$17.87, with turnover of approximately HK$73.84 million. The gain comes amid renewed US-Iran military tensions and VLCC freight rates hovering near historic highs.

On the news front, a fresh US-Iran military conflict erupted on September 1, keeping Hormuz Strait shipping security as a core market theme. VLCC Middle East-to-China route TCE surged to approximately $554,791/day, while TD3C intra-Gulf rates breached $600,000/day, setting all-time records. Meanwhile, OECD petroleum inventories have fallen sharply below five-year averages, underpinning restocking demand expectations.

Fundamentally, the company reported H1 revenue of RMB 15.146 billion, up 30.03% year-over-year, with net profit attributable to shareholders reaching RMB 4.545 billion, surging 143.21%. Foreign trade crude oil transportation gross profit soared 365.4%, driven by geopolitical rerouting and risk premiums. The board approved an interim dividend of RMB 0.28 per share. Broker consensus estimates full-year net profit could exceed RMB 12 billion, supported by tight VLCC supply extending through 2030 and sustained demand elasticity from strategic restocking.

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