Cosco Shipping Energy Shares May See Support From Recent Tanker Sanctions -- Market Talk

Dow Jones12-18 13:28

0528 GMT - Cosco Shipping Energy Transportation's shares may be supported by recent U.S. moves to blockade sanctioned Venezuelan crude tankers, say DBS Group Research analysts in commentary. The crackdown on "dark fleet" tankers is likely to tighten effective crude tanker supply, boosting demand for tonnage of compliant very-large crude carriers, the analysts note. Freight rates of these VLCCs are already at elevated levels, which suggests limited further upside, they add. This could lead the Chinese oil tanker shipping company's stock to trade in a "volatile but upward-biased range" in the near term, the DBS analysts say. DBS maintains its buy rating and HK$12.90 target price on the company's Hong Kong shares, which are 0.9% higher at HK$9.86. (megan.cheah@wsj.com)

 

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December 18, 2025 00:28 ET (05:28 GMT)

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