Asian Energy Shipping Stocks Dive as Mideast Conflict Disrupts Hormuz Strait
By Sherry Qin
Asian energy shipping stocks plunged after the widening Middle East conflict halted traffic through the Strait of Hormuz, a chokepoint for global energy markets.
About one-fifth of the world's oil and liquefied natural gas passes through the narrow waterway.
On Wednesday, Hong Kong-listed Cosco Shipping Energy Transportation slumped 11% and China Merchants Energy Shipping was 8.5% lower in Shanghai. Japan's Kawasaki Kisen Kaisha declined 2.5% and South Korea's Korea Line shed 19%.
China Merchants Energy Shipping said in a filing late Tuesday that some of its tankers and vessels face greater risks when passing through the Persian Gulf.
President Trump on Tuesday sought to reassure oil and gas tankers traveling through the Strait of Hormuz, saying the U.S. Navy will begin escorting them if necessary.
"No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD," Trump wrote in a social-media post.
The oil-supply disruption has sent front-month Brent crude futures more than 10% higher so far this week. Brent was recently up 1.3% at $82.49 a barrel in Asian trading, while WTI crude was 1.0% higher at $75.29 a barrel.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
March 03, 2026 23:48 ET (04:48 GMT)
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