Changes in Hong Kong stocks | COSCO Marine Holdings (01919) fell by more than 2%, and fuel deployment costs have offset some favorable factors. Management's outlook for the fourth quarter is positive

The Zhitong Finance App learned that COSCO Marine Holdings (01919) fell by more than 2%. As of press release, it fell 1.77% to HK$17.76, with a turnover of HK$382 million.

According to the news, HSBC Research released a research report saying that COSCO Offshore's third quarter performance was strong. EBIT increased 128.1% quarterly to RMB 201 billion, and container EBIT profit margin increased by more than 14 percentage points to 28.8% from quarter to quarter. Management has a positive outlook for the fourth quarter. Existing orders in the US are healthy, demand is resilient, and export containers are fully loaded, all indicating a slowdown in turnover rather than weak orders.

According to the HSBC study, port congestion and the recovery in European freight rates caused a moderate seasonal slowdown during the period, but fuel and blending costs have offset some of the favorable factors. Early European contract freight rates were slightly higher, which can provide a buffer when spot freight prices return to normal. The bank maintained a 19% year-on-year decline in freight rates in 2027. The EBIT forecast for COSCO Marine Control for the fourth quarter was 13.8 billion yuan, far higher than the market forecast of 7.6 billion yuan; the EBIT forecast for the second half of the year reached 33.856 billion yuan, and net profit was expected to reach 27.6 billion yuan, reducing the 2026 EBIT forecast by 19% to 49 billion yuan, which is still about 14% higher than market expectations.