HuaYuan Securities: VLCC freight rates reach historical high in September, Ximangdu iron ore mining starts

Huayuan Securities released a research report stating that VLCC freight rates will reach USD 96,000/day in September 2025, the highest level for September since 1990. It is expected that the concentration of cargo releases in the Middle East in October, combined with tight capacity, will lead to new highs in freight rates. Meanwhile, the Ximangdu iron ore project officially commenced mining on September 14, with the first batch of goods expected to be shipped in November, which is anticipated to support the bulk shipping market starting from Q4

The A-share shipping concept continues to strengthen, with HNSS hitting the daily limit, and HNA Technology, Air China Cargo, Antong Holdings, NBOSCO, and NBMC also rising

HNA Technology: Net profit of 71.4957 million yuan in the first half of 2025, a year-on-year decrease of 23.89%

HNA Technology announced that in the first half of 2025, operating revenue was 675 million yuan, a year-on-year increase of 30.10%. Net profit was 71.4957 million yuan, a year-on-year decrease of 23.89%

This year, 8 listed companies have disclosed plans to replenish their capital reserves, aiming to create conditions for future dividends

So far this year, 8 listed companies have disclosed plans to use capital reserves to offset losses, with 7 of them announcing after July. HNA Technology Co., Ltd. announced that it intends to use statutory surplus reserves and capital reserves to offset the losses of the parent company. These companies stated that this move aims to help the company meet the conditions for profit distribution and create conditions for future dividends

HNA Technology hit the daily limit and achieved a three-day consecutive increase, with a cumulative rise of 33.04% over three days