HK Stock Market Move | Cssc Offshore & Marine Engineering (00317) rose over 4%. New shipbuilding prices keep an upward trend. Institutions are bullish on shipbuilders' performance growth in the third quarter.

Cssc Offshore & Marine Engineering (00317) rose over 4%, up 4.24% as of press time, at HK$14.75, with a turnover of HK$24.3397 million. On the news front, in September this year, new shipbuilding prices continued to maintain an upward trend. As of the end of September, the Clarksons newbuilding price index stood at 186.59 points, up 0.25 points from 186.34 points in August, and up 23% compared with 151.40 points in September 2021, five years ago. Shenwan Hongyuan Group believes that shipbuilders' performance is expected to continue growing in 26Q3. Orders currently recognized as revenue were mainly signed during the ship price upcycle, and coupled with large container ships, oil tankers and other high-value-added ship types entering the batch construction and delivery stage, shipbuilders' revenue and profit margins are still expected to continue rising.