Gelonghui, January 9th丨COSCO SHIP ENGY (600026.SH) announced that according to preliminary calculations by the company's finance department, it is expected that the group will achieve a Net income attributable to Shareholders of approximately 3.96 billion yuan for the fiscal year 2024, an increase of 0.58 billion yuan compared to the same period last year (restated), representing a year-on-year growth of about 17.2%. It is anticipated that the group's Net income attributable to Shareholders after deducting non-recurring gains and losses for the fiscal year 2024 will be approximately 3.95 billion yuan, a decrease of 0.18 billion yuan compared to the same period last year (restated), which represents a year-on-year decline of about 4.4%.
In 2024, the international oil transportation market continues to show a relatively prosperous trend, with a diminishing seasonal characteristic. According to data from the Baltic Exchange, taking the Middle East-China route (TD3C) for Very Large Crude Carriers (VLCC) as an example, the average daily earnings (TCE) for the whole year is $34,896/day, a decline of about 3% compared to the same period last year. In the first half of the year, medium and small-sized oil tankers chose to reroute due to the Red Sea route crisis, leading to a temporary high in refined oil tanker freight rates; however, in the second half, as part of the crude oil capacity shifted to refined oil transportation, the freight rates for refined oil tankers rapidly fell and continued to decline. The group's net income from non-recurring gains and losses items such as ship disposal, government subsidies, and expected losses in 2024 is estimated to be about 0.01 billion yuan, whereas the net loss from non-recurring gains and losses items (restated) in the same period last year was approximately 0.75 billion yuan.
