COSCO Shipping Energy Transportation (1138.HK) surged 8% during regular trading to HK$17.21, with turnover at HK$496 million. Following a joint statement from Qatar and Pakistan that high-level negotiations between the United States and Iran concluded in Switzerland under an MOU framework, a 60-day roadmap was finalized, boosting market expectations for renewed U.S.-Iran talks and driving spot freight rates sharply higher across major routes.

Cathay Securities research noted the Middle East TD3C route daily rates climbed to nearly USD 500,000, while DAP routes traded at USD 230,000 per day. The U.S. Gulf route gained nearly 30% to USD 150,000 per day, and West Africa routes jumped over 80% to USD 170,000 per day. JPMorgan previously stated that a U.S.-Iran peace deal would significantly increase the probability of reopening the Strait of Hormuz, with normalization of crude procurement and inventory rebuilding fueling tanker demand, maintaining its Overweight rating on COSCO Shipping Energy with a target price of HK$27.