Ooil Leads Gains In Hk: listed dry bulk shipping firms on strong freight rates

Orient Overseas (International)

08/06/2023 05:47

** Shares of Oriental Overseas (International) Ltd  0316.HK 
(OOIL) lead a rally in Hong Kong-listed dry bulk shipping firms,
rising as much as 6.4% to HK$105.20 - highest since May 25 
    ** Stock on track for a second session of rise and set for
its biggest one-day pct increase since March 23, if gains hold 
    ** Stock top pct gainer in the Hang Seng Commerce & Industry
Index  .HSNC  and second biggest pct gainer in the Hang Seng
Index  .HSI  
    ** The Baltic Exchange's main sea freight index  .BADI  rose
on Wednesday to its highest in more than three months, on higher
rates for capesize and panamax vessel segments amid firm demand
for larger vessels 
    ** Hong Kong shares of COSCO Shipping Holdings  1919.HK 
rise 3.1%, Pacific Basin  2343.HK  climbs 0.4% and SITC
International  1308.HK  rises 1.4%
    ** The Hang Seng Commerce & Industry Index falls 1%, the
Hang Seng Index slips 0.4% and the Hang Seng Composite Index
 .HSCI  eases 0.5%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))