---
title: "COSCO Shipping Energy Climbs on Iran Talks, Shipping Rates Jump"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290378426.md"
description: "COSCO Shipping Energy rose 8% to HK$17.18 amid resumption of US-Iran talks and surging tanker freight rates."
datetime: "2026-06-22T03:13:09.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290378426.md)
  - [en](https://longbridge.com/en/news/290378426.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290378426.md)
generator: "portal-rs"
---

# COSCO Shipping Energy Climbs on Iran Talks, Shipping Rates Jump

COSCO SHIPPING Energy Transport (1138.HK) climbed **8%** during Hong Kong trading to HK$**17.18**, with turnover exceeding HK$**328 million**.

The rally came after high-level US-Iran negotiations concluded in Switzerland with a **60-day roadmap** agreed upon by all parties. CITIC Securities reported that spot freight rates on major routes surged, with the Middle East TD3C route climbing to nearly **$500,000 per day**, while the US Gulf rose close to **30%** to **$150,000 per day** and West Africa jumped over **80%** to **$170,000 per day**. JPMorgan earlier reiterated its overweight rating on COSCO Shipping Energy with a target price of **HK$27**, citing potential tanker demand recovery if the Strait of Hormuz reopens.

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## Related News & Research

- [M Stanley Expects Tanker Market Yet to Peak, Better Performance Seen Next Year; Raises EPS Forecasts for COSCO SHIP ENGY  and MERCHANTS SHIPPING](https://longbridge.com/en/news/296168789.md)
- [COSCO SHIPPING Energy Proposes New Non-Executive Director for Audit Role](https://longbridge.com/en/news/295580051.md)
- [COSCO SHIPPING Energy Updates Board Composition and Committee Roles](https://longbridge.com/en/news/295571316.md)
- [COSCO Shipping Energy files updated board and committee member list with disclosure roles](https://longbridge.com/en/news/295550360.md)
- [COSCO Shipping Energy Transportation files updated board, committee member list for disclosure responsibilities](https://longbridge.com/en/news/293221638.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**