Group 1 - The A-share market saw a collective surge in shipping stocks, with China Merchants Energy Shipping Co., Ltd. hitting the daily limit up [1] - China Merchants Industry Holdings Co., Ltd. rose nearly 8% [1] - COSCO Shipping Holdings Co., Ltd. increased by over 5% [1] - China Merchants Jinling Shipyard Co., Ltd. gained over 4% [1] - COSCO Shipping Energy Transportation Co., Ltd. rose by more than 3% [1]

行业内IMO环保新规加速15年以上老旧船拆解，"影子船队"受制裁影响加速退出主流市场，合规运力持 续收缩，进一步加剧市场供给紧张局面，合规船队可充分享受行业供给收缩带来的红利。 声明：本内容由AI生成，数据资料来自于交易所及第三方公开信息，仅供参考，不构成投资建议。 来源：市场资讯 交易所数据显示，中远海发当前价格3.00元，涨幅9.89%，开盘2.73元，最高3.00元，最低2.72元，成交 量154.47万手，成交额4.45亿元，振幅10.26%，换手率1.58%，总市值395.93亿元。 市场炒作聚焦于中远海发作为航运物流产融运营商的业务布局与协同优势。公司核心业务涵盖集装箱制 造、集装箱租赁和航运租赁，近期拓展的航运产融业务贴合航运业船队升级转型需求，凭借船舶全生命 周期管理能力、多元化资金融通能力以及产融协同解决方案，通过投资建造船舶后出租于产业链公司实 现价值共赢。同时公司深耕航运产业链，布局海南，搭建产融服务平台、落地航运产融项目，借助当地 跨境资金流动便利政策创新人民币定价结算的产融服务模式，降低产业链合作伙伴运营成本、提升资金 效率。此外，公司与行业龙头联合探索产融结合安排，提升新造船融资协 ...

Market Overview - On February 25, A-shares saw all three major indices rise by over 1%, with the Sci-Tech Innovation Index increasing by nearly 0.7%, and nearly 4,000 stocks in the market experiencing gains [9][10] - The total trading volume reached 1.45 trillion yuan, with a significant increase of 102.9 billion yuan compared to the previous day [10] Sector Performance - The fertilizer and pesticide sector experienced a surge, with stocks like Chuanjinnuo hitting the daily limit, and other companies such as Chitianhua and Yuntianhua also seeing significant gains due to rising prices of urea, potassium sulfate compound fertilizer, and monoammonium phosphate [10][11] - Shipping stocks collectively strengthened, with China Merchants Energy achieving a historical high, and other companies like COSCO Shipping Energy and COSCO Shipping Development also rising, driven by a spike in oil tanker spot freight rates reaching a nearly six-year high [11][12] - Lithium battery concept stocks saw substantial increases, with Hanrui Cobalt rising over 11%, and other companies like Wenkang New Energy and Nord Shares also performing well, as lithium carbonate futures broke through the 170,000 yuan mark, marking a significant daily increase of over 10% [12] International Market Trends - The Nikkei 225 index in Japan rose by 1.4%, reaching a historical high, while the Korean Composite Stock Price Index expanded its gains to 2%, also hitting a historical high, with automotive stocks like Kia and Hyundai seeing significant increases [14] - International gold and silver prices surged, with spot silver rising over 3% and spot gold briefly surpassing 5,190 USD per ounce [14][15]

集运股全线走高，截至发稿，中远海发（601866）(02866)涨6.09%，报1.22港元；中远海控（601919） (01919)涨2.82%，报14.96港元；东方海外国际(00316)涨2.52%，报146.6港元；海丰国际(01308)涨 0.73%，报33.22港元。 消息面上，2月3日，航运集团赫伯罗特与马士基将调整双方一项共享航线服务的航行路线，重新经由红 海及苏伊士运河运输。然而本应首次实现复航红海的"Maersk Detroit"号，在实际执行中转向南下绕行非 洲好望角。公司解释：改道系因西地中海恶劣天气造成船期延误，公司因此决定调整航行计划，经好望 角绕行。 申万宏源发布研报称，此次绕行意味着红海复航仍无法在短时间内落地。此外，市场已经进入3月初船 期，随着春节假期后工厂的复工复产，预计需求有望得到改善。关注节后航司选涨、挺价等相关动作。 ...

Core Viewpoint - The shipping sector is experiencing a significant rally, with companies like China Merchants Energy Shipping and COSCO Shipping Energy Transportation seeing substantial stock price increases due to soaring oil tanker freight rates, which have reached a nearly six-year high [1] Industry Summary - The global oil tanker freight rates have surged, with the cost of chartering a Very Large Crude Carrier (VLCC) to transport Middle Eastern crude oil to China exceeding $170,000 per day, marking a threefold increase since the beginning of the year [1] - Factors contributing to this price surge include geopolitical tensions, particularly between the U.S. and Iran, changes in global crude oil supply trends, and significant vessel orders from South Korean shipping companies [1] - The current freight rates indicate that oil transportation costs have risen to the highest level since April 2020 [1] Company Summary - Huachuang Securities is optimistic about the upward trend in the oil transportation market, noting a persistent supply vacuum in the industry, with limited VLCC deliveries this year having a minimal impact [1] - The demand catalyst is still anticipated to materialize, and there is significant potential for freight rate increases, leading to continued recommendations for the oil tanker sector [1] - Specific company insights include: - COSCO Shipping Energy Transportation is viewed as a strong rebound candidate due to the rising oil transportation market [1] - China Merchants Energy Shipping is favored for its synergy in oil and bulk shipping [1] - China Merchants South China Shipping is recognized as the largest MR shipowner in the Far East [1]

近日，中远海运发展股份有限公司发布《关于子公司开展货币类金融衍生业务的公告》。公告显示，公 司于2026年2月13日召开第七届董事会第三十四次会议，审议通过《关于本公司所属子公司申请2026年 度货币类金融衍生业务额度的议案》。公司所属子公司为控制利率、汇率风险，拟开展外汇远期、利率 掉期等货币类金融衍生业务，2026年度交易额度为23亿美元、18亿元人民币，其中外汇远期额度15亿美 元，利率掉期额度8亿美元和18亿元人民币。业务期限为2026年2月13日至2026年12月31日，不涉及保证 金和权利金，资金来源为自有资金。该事项无需提交股东会审议。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 截至2026年2月24日收盘，中远海发（601866）报收于2.73元，较前一交易日上涨4.6%，最新总市值为 360.3亿元。该股当日开盘2.65元，最高2.75元，最低2.65元，成交额达4.5亿元，换手率为1.69%。 《中远海发第七届董事会第三十四次会议决议公告》 《中远海发关于子公司开展货币类金融衍生业务的公告》 最新公告列表 ...

Core Viewpoint - China COSCO Shipping Development Co., Ltd. (中远海发) announced plans to engage in currency-related financial derivatives to manage interest rate and exchange rate risks, with a trading limit set for 2026 at $2.3 billion and 1.8 billion RMB [1] Group 1: Financial Derivative Business - The company’s subsidiaries will conduct financial derivative transactions including interest rate swaps and foreign exchange forwards, with a transaction period from February 13, 2026, to December 31, 2026 [1] - The scale of financial derivative transactions for the current year will not exceed the specified limits and will not involve margin or premium [1] Group 2: Risk Management - The subsidiaries have a certain net asset exposure in USD, and foreign exchange forward transactions will effectively control risks arising from exchange rate fluctuations [1] - Interest rate swap transactions will allow the conversion of floating-rate loans to fixed-rate loans, thereby managing market risks associated with interest rate fluctuations [1] Group 3: Business Justification - The transactions are backed by genuine business needs and reasonable funding arrangements, ensuring that the hedging instruments meet effectiveness criteria in terms of economic relationship, hedging ratio, and timing [1] - The fair value or cash flow changes of the hedging instruments can offset the changes in fair value or cash flows of the hedged items, achieving the goal of hedging [1]

Core Viewpoint - China COSCO Shipping Development Co., Ltd. plans to engage in currency financial derivatives to manage interest rate and exchange rate risks, with a trading limit of USD 2.3 billion and RMB 1.8 billion for the year 2026 [1] Group 1: Financial Derivative Business - The company’s subsidiaries will conduct financial derivative transactions including interest rate swaps and foreign exchange forwards to mitigate risks associated with currency fluctuations and interest rate volatility [1] - The trading period for the specified limits is from February 13, 2026, to December 31, 2026, with the scale of financial derivative activities not exceeding the stated limits [1] - The company has a net asset exposure in USD, and foreign exchange forward transactions will effectively control risks arising from exchange rate fluctuations [1] Group 2: Risk Management Strategy - The company aims to convert floating rate loans into fixed rate loans through interest rate swap transactions to manage market risks related to interest rate fluctuations [1] - The transactions are backed by genuine business needs and reasonable funding arrangements, ensuring that the hedging instruments meet effectiveness criteria in terms of economic relationship, hedging ratio, and timing [1] - The fair value or cash flow changes of the hedging instruments are expected to offset the changes in fair value or cash flows of the hedged items, achieving the goal of hedging [1]

格隆汇2月15日丨中远海发(02866.HK)公布，公司所属子公司为合理控制利率、汇率风险，秉持中性的 风险管理原则，拟开展货币类金融衍生业务，交易品种包括利率掉期、外汇远期等，2026 年度交易额 度为 23 亿美元、18 亿元人民币，该年度金融衍生业务的发生规模不超过上述额度，不涉及保证金和权 利金。上述额度业务开展期限为 2026 年 2 月 13 日至2026 年12 月31 日。 ...

格隆汇2月15日丨中远海发(02866.HK)公布，公司所属子公司为合理控制利率、汇率风险，秉持中性的 风险管理原则，拟开展货币类金融衍生业务，交易品种包括利率掉期、外汇远期等，2026 年度交易额 度为 23 亿美元、18 亿元人民币，该年度金融衍生业务的发生规模不超过上述额度，不涉及保证金和权 利金。上述额度业务开展期限为 2026 年 2 月 13 日至2026 年12 月31 日。 ...