The Zhitong Finance App learned that after a sharp drop of more than 15% yesterday, COSCO Haineng (01138) fell by more than 2%. As of press release, it had fallen 2.56% to HK$17.87, with a turnover of HK$411 million.

According to the news, it was reported a few days ago that an American official said that the Trump administration is considering lifting sanctions on some so-called “shadow fleet” ships to allow these ships to transport crude oil and petroleum products not subject to Washington sanctions in order to reduce global freight rates at record high levels. Yamato believes that this move is expected to put pressure on the overall stock prices of shipping companies. Although the relevant proposal is a temporary exemption and the unofficial delisting of sanctioned ships, it has shown a clear shift in policy.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.