HK Stock Market Move | COSCO Shipping Energy Transportation (01138) surged over 5% in early trading as the U.S. cracks down on Iranian tankers under the new "tanker-for-tanker" policy.

COSCO Shipping Energy Transportation (01138) rose more than 5% in early trading. As of the time of reporting, it was up 5.58%, priced at HKD 17.4, with a trading volume of HKD 54.1447 million. On the news front, according to reports, U.S. officials stated that the U.S. military struck two Iranian government-owned tankers in a wave of attacks on Tuesday. This marks the first time the U.S. military has targeted Iranian tankers in retaliation for Iran's attacks on commercial vessels in the Strait of Hormuz, rather than in response to tankers violating maritime blockades. U.S. officials indicated that including tankers in the target list is part of a new "Tanker for Tanker" policy approved by Trump. Zheshang released a research report stating that this week, both the volume and price of the VLCC market on the Middle East route have risen, as oil-producing countries maintain outbound shipping volumes outside the Strait. The demand for spot charters for offshore transshipment is active, available vessel positions are tightening, and freight rates for alternative loading ports such as Fujairah and Yanbu to the Far East routes have also risen correspondingly.