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

Orient Overseas (International)

17/08/2026 08:34

** Orient Overseas (International) 0316.HK (OOIL) surges 8% to HK$160 to the highest point since August 2022
** Leads rise in Hong Kong-listed dry bulk shipping firms 
** Stock set for the biggest one-day pct gain since December 2023
** Stock also top pct gainer in Hang Seng Index .HSI and Hang Seng Commerce & Industry Index .HSNC, which both rise 1.6% 
** COSCO Shipping Holdings' Hong Kong shares 1919.HK jump 6.1%, SITC International 1308.HK rises 4%, Pacific Basin 2343.HK climbs 1.9% 
** Shipping companies are once again benefiting from higher freight rates driven by severe port congestion, network bottlenecks and strong demand, a dynamic reminiscent of the pandemic period, when supply-chain disruption tightened capacity and boosted industry profits
** US-Iran talks stall and shipping through the Strait of Hormuz slowed over the weekend, data showed on Monday, following attacks on tankers 
** Last Thursday, Danish shipping group Maersk MAERSKb.CO raised its full-year earnings guidance for a second time this year and smashed profit forecasts as global container demand proved resilient in the face of the Middle East conflict


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