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Strait of Hormuz crisis China Geopolitics

Cosco frees stranded tankers as Hormuz-fuelled rate surge doubles profit

  • Cosco Shipping Energy expects first-half profit to rise 141% to $664m as tanker rates surged during the Hormuz crisis
  • Higher tanker earnings outweighed losses from vessels temporarily stranded in the MEG, all of which have now safely exited the strait
  • Analysts expect Cosco’s earnings strength to continue as tanker rates remain elevated

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Soaring tanker rates during the Hormuz crisis helped Cosco Shipping Energy more than double first-half profit

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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