COSCO SHIP ENGY (01138) surged over 4% in afternoon trading, reaching HK$9.76 with a turnover of HK$82.71 million. The uptick follows reports of disrupted Venezuelan crude shipments after the U.S. Navy seized a supertanker near Venezuela. The vessel, carrying approximately 1.85 million barrels of Venezuelan heavy crude, is being diverted to Houston but cannot directly dock due to its size, requiring offshore cargo transfer.

The U.S. has signaled potential escalation of sanctions enforcement, including "operational measures" against vessels in international waters, raising concerns about non-compliant tanker operations. Venezuela currently accounts for about 2% of global crude exports.

According to Clarksons Research, the global crude tanker market is expected to remain resilient through 2026, with modest demand growth and looser supply conditions as fleet expansion slows. In the near term, shipment disruptions may prompt buyers to shift toward compliant Middle Eastern suppliers, absorbing available tanker capacity and potentially sustaining higher freight rates.