According to information obtained, JPMorgan has released a research report stating that a peace agreement between the United States and Iran significantly increases the likelihood of the Strait of Hormuz reopening. This development is viewed as a positive catalyst for tanker stocks, as reopening the strait would enhance the prospects for normalized crude oil procurement activities and inventory rebuilding, thereby boosting demand for tankers. The firm has reiterated its "Overweight" rating on COSCO SHIP ENGY (01138) with a target price of HK$27.

The report notes that since the onset of conflict in the Middle East, the market has lost approximately 1.3 billion barrels of oil supply. This has forced the market to shift to sourcing from countries with longer shipping distances, such as the United States, West Africa, and Brazil, which has driven Very Large Crude Carrier (VLCC) freight rates above historical average levels.

The firm's analysis suggests that the recent weakness in tanker stock prices reflects a decline in market confidence regarding panic-driven inventory restocking, rather than a deterioration in the fundamental industry conditions.