中国经济网北京7月20日讯 中远海能(600026.SH)近日发布公告称，公司于2025年7月18日收到上海证券 交易所出具的《关于中远海运能源运输股份有限公司向特定对象发行股票的交易所审核意见》，公司向 特定对象发行股票申请符合发行条件、上市条件和信息披露要求。上海证券交易所将在收到公司申请文 件后提交中国证监会注册。 中远海能表示，公司本次向特定对象发行股票事项尚需经中国证监会同意注册后方可实施，最终能否获 得中国证监会同意注册的批复及其时间尚存在不确定性。公司将根据该事项的进展情况及时履行信息披 露义务。 中远海能于2025年7月8日发布的《2025年度向特定对象发行A股股票证券募集说明书(修订稿)》显示， 本次向特定对象发行股票募集资金总额不超过800,000.00万元（含本数），在扣除相关发行费用后的募 集资金净额将投资于如下项目：投资建造6艘VLCC、投资建造2艘LNG运输船、投资建造3艘阿芙拉型 原油轮。 本次向特定对象发行的股票种类为境内上市的人民币普通股（A股），每股面值为人民币1.00元。本次 发行全部采取向特定对象发行的方式，在经上交所审核通过并获得中国证监会同意注册的批复后，公司 将在 ...

Key Points - China Shipbuilding Industry Corporation's merger with China Shipbuilding Heavy Industry Corporation has received approval from the China Securities Regulatory Commission, allowing for the issuance of 3.053 billion new shares to facilitate the merger [4] - Great Wall Motors reported a 10.22% year-on-year decline in net profit for the first half of 2025, with total revenue of 92.367 billion yuan, a slight increase of 1.03% [2] - Sanhuan Group expects a net profit increase of 10%-30% for the first half of 2025, projecting a profit of 1.128 billion to 1.333 billion yuan, driven by demand growth in optical communication and consumer electronics [3] - COSCO Shipping Energy Transportation's non-public stock issuance has been approved, aiming to raise up to 8 billion yuan for the construction of new vessels [5] - North Chip Life Technology's IPO on the Sci-Tech Innovation Board has been approved, with a planned fundraising of 0.952 billion yuan [7] - Wuhan Heyuan Bio's IPO registration has become effective, with a fundraising target of 2.4 billion yuan [8] - Dongwu Securities plans to raise up to 6 billion yuan through a private placement to support various business initiatives [12] - Xiangtan Electric Machinery's non-public stock issuance has been approved, targeting 2 billion yuan for R&D projects [13] - Zhejiang Harsco's private placement has been approved, with an investment of 860 million yuan aimed at increasing production capacity [14] - Weiguang Bio plans to raise up to 1.5 billion yuan for its smart industrial base project [15] - Zhengyu Industrial intends to raise up to 450 million yuan for its smart manufacturing park project [16] - Changhong High-Tech plans to acquire 100% equity of Guangxi Changke, expanding its product range into specialty synthetic resin materials [18][19] - Tianyu Digital's board member has been detained for alleged financial misconduct, but the company asserts that operations remain unaffected [21] - Yaqi International's chairman has also been detained for similar allegations, with the company confirming normal operations [22] - ChipLink Integration plans to acquire 72.33% of ChipLink Yuezhou for 5.897 billion yuan, enhancing its production capabilities [24] - Meikailong has announced changes in its executive management, with a new general manager appointed [25] - Weiguang Bio is investing 2.308 billion yuan in a new smart industrial base project to enhance production capacity [26] - Suqian Agricultural Development reported a 27.72% decline in net profit for the first half of 2025, attributed to low agricultural product prices [27] - Nanjing High-Tech achieved a contract sales amount of 1.021 billion yuan in the first half of 2025, marking a significant increase [28]

Core Viewpoint - The company, COSCO Shipping Energy Transportation Co., Ltd., is planning to issue A-shares to specific investors in 2025 to fund the construction of new vessels, including 6 VLCCs, 3 Aframax oil tankers, and 2 LNG carriers, in response to growing global energy transportation demands and to modernize its aging fleet [5][6][8]. Group 1: Investment Projects - The fundraising project involves the construction of 6 VLCCs, 3 Aframax oil tankers, and 2 LNG carriers, with total investment planned to be funded entirely by domestic cash contributions [5][6]. - The construction of 6 VLCCs is expected to be completed by 2028, with 20% of the construction costs already paid and contracts in execution [7][8]. - The LNG carriers are projected to be delivered by 2027, with similar progress in contract execution and payment [7][8]. Group 2: Industry Trends - Global oil transportation demand is expected to grow due to economic recovery and geopolitical tensions, with an estimated 2.212 billion tons of oil trade in 2024 [8][9]. - The average age of VLCCs is increasing, leading to a significant need for fleet renewal, as the delivery of new vessels is insufficient to meet the demand for replacing aging ships [9][10]. - China's LNG import volume is projected to increase significantly, making it the largest LNG importer globally by 2024, which will drive demand for LNG transportation [10][11]. Group 3: Competitive Landscape - The company holds the largest fleet capacity in the oil transportation sector, but its VLCC fleet is aging compared to competitors like China Merchants Energy Shipping and Fredriksen Group [11][12]. - The company aims to enhance its competitiveness by expanding its LNG fleet, which currently ranks fourth globally, to meet the rising demand for LNG transportation [12][13]. - The company has established strong relationships with major clients in the oil and LNG sectors, ensuring stable demand for its services [13][14]. Group 4: Financial and Operational Considerations - The company has a high utilization rate of approximately 94% for its VLCCs and 98% for its LNG carriers, indicating effective operational management [15][16]. - The investment in new vessels is seen as necessary to maintain market leadership and improve profitability, especially in the context of increasing domestic oil transportation needs [21][22]. - The transition to a market-based operation model for LNG carriers is expected to provide more flexibility and responsiveness to market conditions, enhancing revenue potential [22][23].

Core Viewpoint - COSCO Shipping Energy aims to optimize its fleet by raising up to RMB 8 billion through a private placement to build new vessels, including VLCCs and LNG carriers, to enhance its competitive edge in oil transportation [1] Group 1: Fundraising and Investment Plans - COSCO Shipping Energy plans to issue A-shares to specific investors, including COSCO Shipping Group, to raise funds for constructing 6 VLCCs, 2 LNG carriers, and 3 Aframax tankers, with a total fundraising target of no more than RMB 8 billion [1] - The company’s financial officer stated that the new vessels will replace aging ships, with no current plans for fleet expansion, focusing on routes primarily from the Middle East to China and other third-party countries [1] Group 2: Market Environment and Trade Impact - Current U.S.-China trade tariffs have not significantly impacted oil and LNG transportation, with short-term effects on freight rates being minimal [2] - China’s crude oil imports are not heavily reliant on the U.S., with only about 2% of imports coming from American sources, indicating a stronger dependence on Middle Eastern and West African supplies [2] Group 3: Supply and Demand Dynamics - According to Clarksons, the global supply growth rate for crude oil tankers is projected at approximately 1.2% for 2025, while product tanker supply is expected to grow by about 5.6%, maintaining a healthy supply-demand balance [3] - The aging global fleet, tight shipyard capacity, and ongoing environmental regulations are creating a scenario where the rate of new vessel additions is outpaced by the rate of aging vessels, leading to a sustained positive market cycle for oil transportation [3] Group 4: Financial Performance and Market Trends - COSCO Shipping Energy reported a net profit of RMB 4.037 billion for 2024, a year-on-year increase of 19.37%, marking the best performance since the company’s merger in 2016 [4] - The international oil transportation market is experiencing a slowdown in demand growth, with freight rates under pressure due to OPEC+ production cuts and refinery maintenance periods, particularly in the second half of 2024 [4] - The average Time Charter Equivalent (TCE) for VLCCs on the Middle East to China route was approximately USD 34,900, reflecting a 3% decrease from 2023 but still above the average levels of the past five and ten years [4] Group 5: Operational Strategies and Market Factors - In Q1 2025, the average TCE for the VLCC TD3C route remained above USD 30,000, with stable freight rates influenced by vessel-to-cargo matching, regional oil price fluctuations, and the price spread of crude oil [5] - COSCO Shipping Energy has diversified its routes, operating transatlantic routes from Guyana and Brazil to Europe, with 45% of operations in the Atlantic and 53% in the Middle East [5] - Key factors affecting the tanker market include voyage distances rather than cargo volumes, with geopolitical events such as sanctions on Russian oil imports and rerouting away from high-risk areas positively impacting the market [5]