Core Viewpoint - The recent surge in VLCC freight rates is driven by increased oil production and a decline in oil prices, alongside heightened sanctions in Europe and the U.S. that boost demand for compliant oil tankers [1] Group 1: Company Performance - Zhongyuan Shipping (01138) saw a nearly 5% increase in stock price, reaching HKD 9.59 with a trading volume of HKD 319 million [1] - The VLCC-TCE index rose to USD 78,000 on September 12, marking a 39% week-on-week increase [1] Group 2: Industry Dynamics - The rise in oil transportation rates is influenced by a combination of increased oil production and sanctions, which are expected to improve the supply-demand balance in the oil shipping industry [1] - Long-term projections suggest that global oil prices may continue to decline, further stimulating oil transportation demand due to the production increases from the U.S. and OPEC+ [1] - The aging fleet of oil tankers may lead to a reduction in industry supply, especially if sanctions against the gray market are intensified [1] Group 3: Market Outlook - The recovery in demand is supported by the resumption of operations at major Chinese refineries and ongoing production increases by OPEC+ since April [1] - The aging oil tanker fleet and stricter carbon fee systems being established by organizations like the EU and IMO are expected to tighten supply further [1] - A potential increase of USD 10,000 per day in VLCC-TCE rates could yield an additional marginal profit of CNY 9.52 billion for the company, indicating a strong investment opportunity [1]

长江证券指出，VLCC运价近期创2023年3月以来新高。当前，供给受限叠加OPEC增产，且欧美对于非 合规油的制裁可能进一步升级，油轮供需极度紧张的局面正在兑现。油运具有显著利润弹性，通过拟合 发现，VLCC运价对应中远海能年化利润与其市值具有较强相关性，板块有望补涨。 消息面上，据消息人士称，欧佩克+代表计划于周四和周五在维也纳开会，讨论评估该联盟最大产能的 方法。今年4月以来，欧佩克+开始取消之前执行的减产措施，逐步增加产能，部分原因是为了争夺市 场份额。原油价格有望被进一步压低，充分激发有效需求，带动油轮运输需求进入上行周期。 智通财经APP获悉，中远海能(01138)再涨近6%，截至发稿，涨4.28%，报9.5港元，成交额9698.71万港 元。 ...