COSCO SHIP ENGY (01138) surged more than 7% in morning trading. As of press time, the stock was up 6.60% at HK$21.64, with a turnover of HK$367 million.

On the news front, the CEO of PIF Energy stated that the company is spending US$2 billion to acquire 15 aging supertankers to transport Middle East crude oil through the high-risk Strait of Hormuz. This move comes amid persistently worsening global diesel shortages and tanker freight rates soaring to historic extremes, highlighting the market's intense thirst for scarce shipping capacity.

Changjiang Securities pointed out that during the holiday period, Saudi Arabia restarted the East-West Pipeline, India's Kutch Bay on the west coast began VLCC lightering operations, and Suezmax freight rates jumped. Behind these events is the recovery of Middle East crude export volumes, but the efficiency losses may be irreversible.

Driven by multiple factors, VLCC freight rates hit a record high. Meanwhile, under the "national oil, national shipping" security framework, leading domestic tanker shipping companies possess the ability to steadily deliver on the high-prosperity cycle.