HK Stock Market Move | COSCO Shipping Energy Transportation (01138) rose more than 4% with continued increase in VLCC freight rates during the Spring Festival holiday, and continued geopolitical disturbances.

COSCO Shipping Energy Transportation (01138) surged more than 4%, rising by 4.08% to 18.89 Hong Kong dollars as of the publication, with a trading volume of 184 million Hong Kong dollars. In terms of news, during the Spring Festival holiday, VLCC freight rates continue to rise, reaching the highest level in nearly 10 years. According to Huachuang Securities, as of February 20, 2026, Clarkson's VLCC-TCE closed at 142,000 US dollars per day, a week-on-week increase of 24.5%; among them, the Middle East-China route closed at 157,000 US dollars per day, a week-on-week increase of 26%. The one-year VLCC charter rate also continued to rise to 92,500 US dollars per day, a week-on-week increase of 28.5%. The bank believes that the VLCC market is facing an almost unprecedented surge in sentiment due to geopolitical risk premiums, Longjindi's large-scale "sweeping", and strengthened sanctions. In terms of geopolitics, according to CCTV website news on February 23, while the US and Iran are sending signals for negotiations, the risk of US military strikes against Iran still exists. According to reports, citing former CIA intelligence officers, the US may launch military strikes against Iran on February 23 or February 24.