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gtja: Saudi Arabia may increase production within the year, reaffirming that crude oil production increases will be bullish for oil shipping.
Overseas media reported that Saudi Arabia may increase production within the year, which will catalyze significant changes in the market's outlook on OPEC+ production strategy and expectations for crude oil production growth. It is reiterated that an increase in crude oil production will be bullish for oil shipping.
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Nanjing Tanker Corporation (601975.SH): Planning to build a new 18,000-ton oil and chemical ship.
On September 9th, Guolonghui reported that the board of directors of Nanjing Tanker Corporation (601975.SH) announced that they have approved their wholly-owned subsidiary, Yangyang Chemical Trading Co., Ltd. (referred to as 'Yangyang Company') to build a new 18,000-ton oil/chemical ship in collaboration with the affiliated company, Jinling Dingheng Shipbuilding Co., Ltd. (referred to as 'Jinling Dingheng') with a contract price of 0.2465 billion yuan (including tax).
gtja: The willingness for capital expenditure on ship large-scaleization continues, and the top enterprises may continue to place orders for large ships within the year.
Considering the sustained capital expenditure willingness of integrated shipping companies based on the ship's large-scale development, head enterprises may continue to place orders for large ships in 2024. In contrast to the previous cycle, it is expected that the capacity constraint of the shipbuilding industry in this cycle will be better than the previous cycle, and shipyard shortage and high ship prices will be sustainable in the coming years.
GTJA: Bullish on oil shipping due to oil price decline, seize the opportunity for counter-cyclical layout.
In the past two years, the reconstruction of trade and the eastward movement of refineries have driven a significant increase in oil transportation demand, and the rigid supply of tankers has gradually become prominent. The capacity utilization rate of the oil transportation market has already reached the threshold in the first half of 2024. The market may misunderstand the impact of lower oil prices on oil transportation, so it is recommended to adopt a reverse layout.
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