COSCO Shipping Energy Transportation Climbs Over 7% in Morning Session; Leading Domestic Crude Tanker Firm Seen Well-Positioned to Realize Strong Upside

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COSCO SHIP ENGY (01138) rose more than 7% in morning trading. As of press time, the stock is up 6.50%, quoted at HK$21.62, with turnover of HK$457 million.

The CEO of PIF Energy stated that the company is spending US$2 billion to acquire 15 older supertankers to transport Middle East crude oil through the high-risk Strait of Hormuz. This move comes against the backdrop of a continuously worsening global diesel shortage and tanker freight rates soaring to historic extremes, highlighting the market's intense thirst for scarce shipping capacity.

Yangtze Securities noted that during the holiday period, Saudi Arabia restarted its East-West pipeline, India's Kutch Bay on the west coast began VLCC ship-to-ship transfer operations, and Suezmax freight rates jumped. Behind these events is the recovery of Middle East crude oil export volumes, but the efficiency losses may be irreversible. Under the resonance of multiple factors, VLCC freight rates hit historic highs, and under the "national oil, national shipping" guarantee system, leading domestic crude tanker enterprises possess the ability to steadily realize strong upside.

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As of press time, the stock is up 6.50%, quoted at HK$21.62, with turnover of HK$457 million.<br><br>The CEO of PIF Energy stated that the company is spending US$2 billion to acquire 15 older supertankers to transport Middle East crude oil through the high-risk Strait of Hormuz. This move comes against the backdrop of a continuously worsening global diesel shortage and tanker freight rates soaring to historic extremes, highlighting the market's intense thirst for scarce shipping capacity.<br><br>Yangtze Securities noted that during the holiday period, Saudi Arabia restarted its East-West pipeline, India's Kutch Bay on the west coast began VLCC ship-to-ship transfer operations, and Suezmax freight rates jumped. Behind these events is the recovery of Middle East crude oil export volumes, but the efficiency losses may be irreversible. 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This move comes against the backdrop of a continuously worsening global diesel shortage and tanker freight rates soaring to historic extremes, highlighting the market's intense thirst for scarce shipping capacity.Yangtze Securities noted that during the holiday period, Saudi Arabia restarted its East-West pipeline, India's Kutch Bay on the west coast began VLCC ship-to-ship transfer operations, and Suezmax freight rates jumped. Behind these events is the recovery of Middle East crude oil export volumes, but the efficiency losses may be irreversible. 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