智通财经APP获悉，由于买家寻求替代受制裁的俄罗斯原油，且中东和美国生产商供应增加，一条基准 航线租用超大型油轮(VLCC)的成本飙升至逾五年来的最高水平。上周五，从中东运往中国的超大型油 轮(可运输多达 200 万桶)的基准运价涨至近 13.7 万美元/天，今年迄今涨幅达 576%。这是自 2020 年 4 月底以来的最高水平，且超过了两周前创下的上一个峰值。涵盖多条航线VLCC运价的更广泛指数也达 到了 11.64 万美元/天，创下五年来的新高。 杰富瑞分析师Omar Nokta在一份报告中指出，这还与美国和欧佩克+国家产量的增加相吻合，尤其是中 东产油国准备向买家提供更多原油。需求的转变已显而易见，上周有更多船期预订在 11 月下旬和 12 月，约有十几艘油轮被要求从中东运输原油，这反过来又推高了VLCC的收益。 费率上升也使整个油轮船队领域受益，小型船只的收益更高。Vortexa 首席货运分析师Ioannis Papadimitriou上周在一份报告中写道，苏伊士型油轮(载货量约为VLCC的一半)已进入中东，抢运通常由 VLCC运输的货物。 随着美国对俄罗斯石油公司(Rosneft PJSC)和卢克石 ...

Group 1 - DH Shipbuilding reported consolidated revenue of 296 billion KRW (approximately 1.53 billion RMB) in Q2, a year-on-year increase of 16.7% [1] - The company achieved an operating profit of 62.5 billion KRW (approximately 320 million RMB) in Q2, representing a year-on-year growth of 84.4% [1] - For the first half of the year, DH Shipbuilding accumulated revenue of 603.7 billion KRW (approximately 3.12 billion RMB) and an operating profit of 132.2 billion KRW (approximately 680 million RMB), with an operating margin of 21.9% [1] Group 2 - Since being acquired by KH Investment Group in 2022, DH Shipbuilding has implemented strategies focused on high-value-added vessels, internalizing external manufacturing segments, maximizing equipment efficiency, and fine-tuning cost management, leading to improved revenue and profitability [3] - The company has stabilized the delivery of its main vessel types at a rate of one vessel per month in the first half of the year, with plans to start constructing high-value-added vessels like oil tankers in the second half [3] - DH Shipbuilding aims to maintain its industry-leading operating profit margin and establish itself as a competitive shipyard in the global market [3] Group 3 - In 2023, DH Shipbuilding received orders for two Suezmax oil tankers from Greek shipping company Sun Enterprises, with a total order value of approximately 180 million USD, expected to be delivered in Q1 2027 [4]

Core Viewpoint - Scorpio Tankers reported a significant decline in net profit for Q2 2025, reflecting the impact of geopolitical uncertainties on the shipping industry, while maintaining a cautious outlook and announcing a quarterly dividend [1][3]. Financial Performance - For Q2 2025, Scorpio Tankers achieved revenue of $230.2 million, a year-over-year decrease of 39.5% but a quarter-over-quarter increase of 7.6% [3][4]. - Operating profit for the same period was $79.1 million, down 68.8% year-over-year, while adjusted EBITDA was $144.5 million, reflecting a 48.0% decline [3][4]. - Net profit reached $73.5 million, a decrease of 67.7% year-over-year but an increase of 26.3% from the previous quarter [3][4]. Fleet Performance - The average daily Time Charter Equivalent (TCE) for the fleet in Q2 2025 was $25,569, down 34.1% year-over-year but up 6.7% quarter-over-quarter [3][5]. - The daily TCE for the LR2 fleet was $32,674, down 30.7% year-over-year; for the MR fleet, it was $20,681, down 41.9%; and for the Handymax fleet, it was $22,595, down 19.3% [3][5]. Dividend and Shareholding - The board announced a quarterly cash dividend of $0.40 per share [1]. - In Q2 2025, Scorpio Tankers sold 2.745 million shares of DHT at an average price of $12.07 per share, realizing part of the gains, and currently holds approximately 8.832 million shares of DHT, representing about 5.5% of the issued common stock [8]. Future Outlook - For Q3 2025, Scorpio Tankers anticipates the spot market day rates for the LR2 fleet to reach $31,000, with 47% of operational day income locked in; for the MR fleet, the expected rate is $22,000 with 45% locked in; and for the Handymax fleet, $19,000 with 33% locked in [8].