Zhi Tong Cai Jing·2025-10-13 02:45Core Viewpoint - COSCO Shipping Energy's stock surged over 7%, reaching HKD 9.8, driven by market concerns over potential port congestion and freight rate increases due to new U.S. sanctions on Iranian oil exports [1] Company Summary - COSCO Shipping Energy is recognized as China's largest tanker operator and a leading global player in crude oil, refined oil, and LNG transportation [1] - The company operates a diversified fleet, benefiting from a relatively new fleet age structure and an increasing LNG business, providing downside protection in a volatile freight market [1] - Morgan Stanley forecasts a compound annual growth rate of 16% in net profit for the company from 2025 to 2027, supported by freight recovery, structural supply-demand catalysts, and cautious fleet expansion [1] Industry Summary - The announcement of new U.S. sanctions on Iranian oil export-related companies has raised concerns about port congestion and operational capacity, particularly affecting the Rizhao Shihua crude oil terminal [1] - Following the sanctions, freight rates have significantly increased, with the TD3C-TCE index rising 42% from USD 57,000 per day to USD 80,807 per day on October 10 [1] - The ongoing situation regarding special port fees imposed by China on U.S. vessels is expected to further influence freight rates, particularly in the context of strong seasonal demand [1]