Ooil Leads Hk: listed dry bulk shipping firms lower as Baltic sea freight index falls

Orient Overseas (International)

18/01/2023 06:33

** Orientl Overseas (International)  0316.HK  (OOIL) leads
slide in Hong Kong-listed dry bulks shipping firms, falling as
much as 2% to HK$133.20 to its lowest since Dec. 7 
    ** Stock set for the fourth consecutive session of decline
    ** The Baltic Exchange's main sea freight index  .BADI ,
tracking rates for ships carrying dry bulk commodities, fell to
fresh multi-year lows on Tuesday, weighed down by weaker demand
for capesize vessels  urn:newsml:reuters.com:*:nL4N3422Z7
    ** The overall index, which factors in rates for capesize,
panamax and supramax shipping vessels, lost about 2.6% to lowest
since early June 2020 and the capesize index  .BACI  down about
5.4% to near two-month low
    ** Shares of COSCO Shipping Holdings  1919.HK  falls 1.3%
and Pacific Basin  2343.HK  eases 1.1%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both climb 0.3%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))