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 Marine (01138) rose more than 4%. As of press release, it rose 4.19% to HK$6.21, with a turnover of HK$47.7127 million.
The Zhitong Finance App learned that COSCO HNA (01138) rose by more than 4%. As of press release, it had risen 4.19% to HK$6.21, with a turnover of HK$47.7127 million.
According to the news, on December 5, China Taibao issued an information disclosure announcement. On November 29, Taibao Life Insurance, a holding subsidiary of the company, purchased 0.996 million shares of COSCO Haineng H shares through Hong Kong Stock Connect. As of the trading date, China Taibao and its subsidiaries held a total of 65.304 million H shares of COSCO Haineng, accounting for 5.04% of the listed company's H share capital, triggering the listing. According to reports, as of the close of trading on December 5, COSCO Haineng's H share price was HK$5.96 per share, and the latest dividend rate was 10.49%.
Fangzheng Securities pointed out that looking ahead to the future market: VLCC's strong supply constraints will not change, and demand under the extremely low growth rate of supply will have a high fault tolerance rate. In the short term, demand and freight rates during the Q4 peak season are expected to increase month-on-month, with a moderate rise in average values. In the medium term, OPEC's marginal increase in production may still be catalyzed by important demand. The bank reiterated that the upward trend in the cycle will not change under VLCC's high-certainty mismatch between supply and demand, and that there is no need to be pessimistic in the medium term. At the same time, it is concerned about the further fermentation of potential supply chain entropy growth variables in the future.
