OOIL leads losses among Hong Kong shipping stocks amid drop in sea freight index

Orient Overseas (International)

15/08/2022 06:42

** Shares of Orient Overseas (International) Ltd (OOIL)
 0316.HK  lead slump among Hong Kong-listed shipping stocks,
falling as much as 15.5% to HK$223.80, the biggest intraday pct
loss since January 2021 
    ** Stock of the containerised shipping services group sinks
to the lowest since July 14; the biggest percentage decliner in
Hang Seng Index  .HSI  and Hang Seng Composite Index  .HSCI  
    ** The Baltic Exchange's main sea freight index  .BADI ,
which factors in rates for capesize, panamax and supramax
shipping vessels, fell 5.1% to a fresh six-month low on Friday
and posted its fourth consecutive weekly decline as rates slid
across vessel segments  urn:newsml:reuters.com:*:nL4N2ZO2TZ
    ** The capesize index  .BACI  fell 14.6% to a six-month low
of 1,314 points on Friday 
    ** Stock of SITC International  1308.HK  drops 5.6% and Hong
Kong shares of COSCO Shipping  1919.HK  falls 4.6% 
    ** The Hang Seng Commerce & Industry Index  .HSNC  climbs
0.2%, while the Hang Seng Composite Index  .HSCI  slips 0.3% and
the Hang Seng Index  .HSI  eases 0.2%


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