MISC is in preliminary discussions to take Yinson private at 2.35 ringgit a share, valuing the company at approximately 3.8 billion ringgit. Analyst Tze Hern Ong notes the deal could constrain dividend capacity if funded with cash, while a share-based offer may dilute earnings per share. MISC maintains a hold rating with a target price of 8.65 ringgit. Shares rose 2.8% to 8.14 ringgit.

Tanker freight rates have surged to historically high levels, with the Middle East Gulf-Japan Long Range 2 route hitting $107.72 a metric ton. Restricted shipping through the Strait of Hormuz has limited vessel availability, with crossings falling over 80% since the U.S.-Iran war began.

Maersk reported strong near-term earnings benefits from resilient freight rates, though J.P.Morgan warns current levels are unsustainable. The bank rates the stock underweight, citing that elevated capital expenditure is needed to halt capacity-share loss. Maersk's fleet utilization stands at 96%. Shares rose 0.9% to 22,170 kroner.