Zhi Tong Cai Jing·2026-01-19 02:06Core Viewpoint - The stock of COSCO Shipping Energy Transportation Co., Ltd. (中远海能) has risen over 5%, reaching HKD 12.69, driven by increasing oil prices and heightened geopolitical tensions in the Middle East [1] Group 1: Market Dynamics - According to Clarkson, oil prices have surged significantly due to escalating tensions, with VLCC Middle East route WS rising continuously, now at 88, leading to TCE exceeding USD 60,000 per day [1] - Zhongyin Securities reported that the risk premium in the Strait of Hormuz has rapidly increased due to the tense situation in Iran, with VLCC daily earnings doubling to USD 68,000 in just one week [1] Group 2: Supply Chain Impacts - The sharp decline in Venezuelan oil exports has compelled Chinese buyers to shift their procurement towards heavy crude oil from the Middle East and Brazil, resulting in increased demand for long-haul shipping [1] - The short-term support for tanker freight rates is evident, but future trends will depend on whether sanctions are relaxed [1]