CMES, COSCO Shipping climb on report of deploying oil tankers outside Gulf

COSCO Shipping Energy Transportation

19/08/2026 05:14

** Shares of China Merchants Energy Shipping (CMES) 601872.SS climb 4.7% in the third straight gaining session to 18.82 yuan, the highest level since June 29
** Two Chinese shipping giants have stopped sending oil tankers through two Middle East chokepoints amid ongoing conflict and are instead collecting oil cargoes outside the Gulf, Reuters reported, citing three industry executives, tanker trackers and a ship broker 
** State-controlled COSCO Shipping Energy Transportation (CSET) 600026.SS and CMES have kept their tankers out of the Strait of Hormuz and Bab al-Mandeb since late July, according to tanker tracker Vortexa and a ship broker, with security concerns curbing oil shipments to the world's largest importer
** Shares of CSET climb 4.6% to 18.83 yuan, the highest point since June 30
** YTD, CMES stock up 108.6%, CSET shares up 60%, while CSI China Mainland Transportation Index .CSI000945 down 5.9%
     
     

(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))