On September 16, COSCO SHIP ENGY fell 3.04% in regular trading, trading at HKD 17.86/share, with turnover of HKD 162 million. The stock retreated notably after accumulating over 9% gains in the prior two trading sessions, which were driven by escalating Middle East geopolitical tensions and surging VLCC freight rates.

On the institutional front, Hong Kong Exchange filings revealed that BlackRock significantly reduced its H-share stake from 8.62% to 5.68%, a decline of nearly 3 percentage points. Morgan Stanley had also previously trimmed its position by approximately 475,500 shares at around HKD 14.20 per share. The concentrated selling pressure from major institutional holders weighed heavily on market sentiment.

Additionally, the company announced that first-tranche stock option holders under its incentive plan will be restricted from exercising options between September 29 and October 28, introducing a short-term overhang. On the operational side, COSCO SHIP ENGY reported strong H1 results with revenue of RMB 15.15 billion, up 30% year-over-year, and net profit of RMB 4.55 billion, surging 143%. The board also approved delivery financing for four 88,000 cubic meter VLGCs, advancing its LPG fleet expansion.

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