SEHK:1138Oil and Gas
Why COSCO SHIPPING Energy Transportation (SEHK:1138) Is Up 9.5% After VLCC Freight Rates Hit Decade Highs
During the recent Spring Festival period, COSCO SHIPPING Energy Transportation benefited from a sharp upswing in Very Large Crude Carrier freight rates, which climbed to their highest levels in nearly a decade amid heightened geopolitical tensions and disrupted shipping lanes.
The spike in VLCC rates reflects a surge in geopolitical risk premiums and aggressive fixture activity by major charterers, underscoring how external conflict risks can quickly reshape demand and pricing power in the...