Zhi Tong Cai Jing·2026-02-24 08:59Core Viewpoint - The stock of COSCO Shipping Energy Transportation Co., Ltd. (中远海能) has risen over 4%, reaching HKD 18.89 with a trading volume of HKD 184 million, driven by a significant increase in VLCC freight rates during the Spring Festival holiday, reaching a nearly 10-year high [1] Group 1: VLCC Market Performance - VLCC freight rates have surged, with the Clarkson VLCC-TCE rate at USD 142,000 per day, reflecting a week-on-week increase of 24.5% [1] - The Middle East to China route has seen rates rise to USD 157,000 per day, with a week-on-week increase of 26% [1] - One-year VLCC charter rates have also increased to USD 92,500 per day, marking a week-on-week growth of 28.5% [1] Group 2: Market Sentiment and Geopolitical Risks - The market is experiencing unprecedented bullish sentiment due to factors such as geopolitical risk premiums, significant purchases by Long Jin, and reinforced sanctions [1] - Despite signals of negotiation between the U.S. and Iran, there remains a risk of military action by the U.S. against Iran, as reported by U.S. media citing former CIA personnel [1]