COSCO SHIPPING Development Orders 16 VLCCs
Published . Updated .
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Shanghai-based COSCO SHIPPING Development said on Wednesday it had ordered 16 very large crude carriers (VLCCs) worth 13.43 billion yuan ($2.01 billion) from Ch
Directly affected
- No company is named in this report.
Indirectly affected
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks shipping freight. Linked by “shipping” (container shipping) in this story.
- IYT iShares U.S. Transportation ETF
iShares U.S. Transportation ETF: it tracks shipping freight. Linked by “shipping” (container shipping) in this story.
- USO United States Oil Fund-1.1% 30d
United States Oil Fund: its price follows crude oil. Linked by “crude” (oil) in this story.
- FXI iShares China Large-Cap ETF-3.4% 30d
iShares China Large-Cap ETF holds stocks listed in China, which this story is about (“shanghai”).
- CEW WisdomTree Emerging Currency Strategy Fund
WisdomTree Emerging Currency Strategy Fund holds emerging-market currencies, which move on news like this from China.
- ZIM ZIM Integrated Shipping Services-1.2% 30d
ZIM Integrated Shipping Services (deep sea foreign transportation of freight): shipping lines' rates jump when routes or ports are disrupted. Linked by “shipping” (container shipping) in this story.
- MATX Matson-5.8% 11d
Matson (water transportation): shipping lines' rates jump when routes or ports are disrupted. Linked by “shipping” (container shipping) in this story.
- KEX Kirby-10.4% 30d
Kirby (water transportation): shipping lines' rates jump when routes or ports are disrupted. Linked by “shipping” (container shipping) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| BWET | +35.67% | +29.19% | base | +4.90% | after close | after close | after close |
| IYT | +1.47% | -3.41% | base | +0.78% | after close | after close | after close |
| USO | +2.78% | +4.95% | base | +0.08% | after close | after close | after close |
| FXI | +0.49% | +1.53% | base | -1.47% | after close | after close | after close |
| CEW | +0.00% | +0.00% | base | — | after close | after close | after close |
| ZIM | +1.49% | -0.50% | base | +3.19% | after close | after close | after close |
| MATX | +1.77% | +2.30% | base | +2.48% | after close | after close | after close |
| KEX | +3.17% | -2.51% | base | +3.12% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
COSCO SHIPPING Development Orders 16 VLCCs MarineLink
Source: MarineLink
Shipping
| Company | When | Move | Status |
|---|---|---|---|
| BWET | that day | +4.90% | final price |
| BWET | three days earlier | +29.19% | final price |
| BWET | five days earlier | +35.67% | final price |
| CEW | three days earlier | 0.00% | final price |
| CEW | five days earlier | 0.00% | final price |
| FXI | that day | -1.47% | final price |
| FXI | three days earlier | +1.53% | final price |
| FXI | five days earlier | +0.49% | final price |
| IYT | that day | +0.78% | final price |
| IYT | three days earlier | -3.41% | final price |
| IYT | five days earlier | +1.47% | final price |
| KEX | that day | +3.12% | final price |
| KEX | three days earlier | -2.51% | final price |
| KEX | five days earlier | +3.17% | final price |
| MATX | that day | +2.48% | final price |
| MATX | three days earlier | +2.30% | final price |
| MATX | five days earlier | +1.77% | final price |
| USO | that day | +0.08% | final price |
| USO | three days earlier | +4.95% | final price |
| USO | five days earlier | +2.78% | final price |
| ZIM | that day | +3.19% | final price |
| ZIM | three days earlier | -0.50% | final price |
| ZIM | five days earlier | +1.49% | final price |
How solid the shipping case looks
12 out of 100
“COSCO SHIPPING Development Orders 16 VLCCs” scores 12 out of 100. The score uses 1 sources.