Hong Kong Shipping Stocks Rise as US-Iran Tensions Lift VLCC Rates to $44.8 Million
Hong Kong-listed shipping shares advanced on September 17, 2026, led by COSCO Shipping Energy Transportation, which rose nearly 8% and has almost doubled over two months. T. S. Lines gained over 3% and SITC International more than 2%. A VLCC carrying 2 million barrels of crude from the US Gulf to China cost about $44.8 million on September 15, 2026, up from $39 million a day earlier and $17.8 million before the Iran war began in late February 2026.
On September 17, 2026, multiple Hong Kong-listed shipping stocks rose. COSCO Shipping Energy Transportation (01138. HK) gained nearly 8%, taking its cumulative increase over the past two months to almost 100%. T. S. Lines (02510. HK) rose more than 3%, while SITC International (01308. HK) advanced over 2%.
As of September 15, 2026, the freight rate for a VLCC carrying 2 million barrels of crude from the US Gulf to China reached about $44.8 million, jumping from $39 million the previous day. The rate equates to more than $22 per barrel of crude. Before the Iran war broke out in late February 2026, the rate stood at $17.8 million.
As of September 11, 2026, the Baltic Dirty Tanker Index (BDTI) and the Baltic Clean Tanker Index (BCTI) had both accelerated their short-term gains, rising 43.1% and 26.7%, respectively, from the first week of September 2026. The US-Iran conflict has not yet ended, and there is a risk of further escalation in the near term.