On June 17, COSCO Shipping Energy (01138.HK) rose 4.31% in regular trading, trading at 16.3 HKD/share, with turnover of 57.40 million HKD, extending the rebound driven by expectations of the Hormuz Strait reopening.

On the news front, the US-Iran peace agreement is scheduled to be formally signed in Switzerland on June 19, with the Hormuz Strait expected to reopen shortly thereafter. JPMorgan issued its latest research report reiterating an Overweight rating on COSCO Shipping Energy with a target price of 27 HKD, noting that the strait reopening will drive normalization of crude oil procurement and inventory rebuilding, thereby boosting tanker demand. Additionally, BlackRock recently increased its H-share holdings to 10.27%, signaling sustained institutional capital inflows.

The company reported Q1 net profit attributable to shareholders of 2.173 billion RMB, representing a year-over-year surge of 206.74%. COSCO Shipping Energy operates the world's largest oil tanker fleet by capacity and recently invested 6.445 billion RMB in four new LNG vessels to expand its fleet scale.

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