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Asian Stocks Soar Amid Skyrocketing Oil Transport Costs

6/15/2025

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Summary

Story summary

Asian stocks surged on June 13, 2025, with Cosco Shipping and China Merchants jumping over 5% as tanker rates from the Middle East skyrocketed. The cost to transport Saudi oil to China soared by 24%, prompting the Joint Maritime Information Center to issue a warning about increased risks, urging vessel operators to brace for possible navigation failures.

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Story summary

Asian stocks surged on June 13, 2025, with Cosco Shipping and China Merchants jumping over 5% as tanker rates from the Middle East skyrocketed. The cost to transport Saudi oil to China soared by 24%, prompting the Joint Maritime Information Center to issue a warning about increased risks, urging vessel operators to brace for possible navigation failures.