HK Stock Market Move | COSCO Shipping Energy Transportation (01138) rises nearly 7% in the afternoon, as oil shipping prices remain high. Profits of oil tankers in the fourth quarter are expected to reach a ten-year high.

COSCO Shipping Energy Transportation (01138) rose nearly 7% in the afternoon and rose 5.19% to HK$10.94 as of the time of writing, with a turnover of HK$186 million. Guotai Haitong released a research report stating that over the past two months, the increase in oil production in the Middle East and South America has occurred, and the US's increased sanctions on Russia have led India to reduce Russian oil imports in favor of imports from the Middle East and the Gulf of Mexico, directly benefiting compliant VLCCs and achieving a surge in freight rates. Recently, Middle Eastern December mid-month freight rates have become concentrated in the market, and last week the highest Middle East-China route VLCC-TCE exceeded 140,000 US dollars. The fourth quarter of 2025 corresponds to a VLCCTCE central point of over 90,000 US dollars, and it is expected that profits from oil tankers will reach a ten-year high.