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The latest announcement is out from COSCO SHIPPING Energy Transportation Co ( (HK:1138) ).
COSCO SHIPPING Energy Transportation Co., Ltd. announced a proposed charter agreement involving the lease of six VLCC crude oil tankers from Hainan COSCO SHIPPING Development. The agreement includes a mix of fixed and variable lease payments, with the latter incorporating a profit-sharing mechanism. This strategic move is aimed at balancing market fluctuations and is expected to be funded through internal resources. The transactions are classified as discloseable and connected under Hong Kong Listing Rules, requiring specific reporting and approval procedures.
The most recent analyst rating on (HK:1138) stock is a Buy with a HK$11.50 price target. To see the full list of analyst forecasts on COSCO SHIPPING Energy Transportation Co stock, see the HK:1138 Stock Forecast page.
More about COSCO SHIPPING Energy Transportation Co
COSCO SHIPPING Energy Transportation Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China. It operates in the shipping industry, focusing on the transportation of energy products, particularly crude oil. The company is a significant player in the market, with a substantial shareholding controlled by COSCO SHIPPING and its associates.
Average Trading Volume: 30,262,277
Technical Sentiment Signal: Buy
Current Market Cap: HK$69.68B
For a thorough assessment of 1138 stock, go to TipRanks’ Stock Analysis page.