Tanker Shipping Rates Remain Elevated as COSCO SHIP ENGY Shares Jump Over 7% at Opening

Deep News
02/20

COSCO SHIP ENGY (01138) rose more than 7% in early trading. At the time of writing, the stock was up 6.16%, trading at HK$18.26, with a turnover of HK$84.9897 million.

A research report from Guotai Haitong Securities noted that geopolitical tensions since 2026 have heightened shipowner sentiment, with some overseas shipowners increasing chartering activities to control market supply. As a result, tanker shipping rates have remained high recently. The VLCC TCE rate for the Middle East-China route has stayed above $120,000. The report suggests that shipowner sentiment is likely to continue influencing short-term freight rates. It advises monitoring the year-on-year upward trend in average freight rates and projects that tanker profits in the first quarter of 2026 will surge several times compared to the same period last year.

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