Zhi Tong Cai Jing·2025-12-01 06:35Core Viewpoint - Cosco Shipping Energy (中远海能) shares rose nearly 7% in the afternoon, with a current increase of 5.19%, trading at HKD 10.94, with a transaction volume of HKD 186 million [1] Group 1: Market Dynamics - Recent increases in oil production from the Middle East and South America have become evident over the past two months, positively impacting the market [1] - The U.S. has intensified sanctions against Russia, leading India to reduce imports of Russian oil in favor of Middle Eastern and U.S. Gulf oil, benefiting compliant VLCCs and driving freight rates up [1] Group 2: Financial Performance - The VLCC-TCE (Very Large Crude Carrier Time Charter Equivalent) for the Middle East to China route reached a peak of over USD 140,000 last week [1] - The expected average VLCC-TCE for Q4 2025 is projected to exceed USD 90,000, indicating that oil tanker profitability is set to reach a ten-year high [1]