With tanker rates surging, tanker stocks are following.

Since the US slapped six Chinese companies with sanctions 25 September, several crude tanker owners have seen their share prices shoot up.

Euronav, the New York traded owner with the biggest VLCC fleet, has seen its shares jump 9.26%, from $8.53 the day the sanctions were levied to $9.32 in late trading Wednesday.

Frontline saw its shares jump 4.71% from $8.92 to $9.34, while closing Tuesday at a 52-week high of $9.41. DHT hit its 52-week high Wednesday, with shares rising to $6.33 to $6.01.

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The US sanctions, in part, targeted Cosco Shipping Energy Transportation subsidiaries for alleged dealings with Iran. The sanctions sent charterers fleeing from the companies, worried they too could be blacklisted and blocked from the US financial system.

Cosco Shipping Energy Transportation reportedly owns tanker assets through Cosco Shipping Tanker (Dalian), which was sanctioned, and Cosco Shipping Tanker (Shanghai) which was not. The companies together own 6% of the world VLCC fleet, according to Stifel.

Last Friday – two days after the sanctions hit -- Clarksons reported VLCC rates were up across the board, jumping 43% across all routes to $50,002 per day.

The rally continued into this week and by Wednesday the Baltic Exchange’s Baltic Dirty Tanker Index hit 1033, a calendar year high, with rates up across the board.

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Beyond Euronav, Frontline and DHT, International Seaways jumped 4.07%, from $18.67 to $19.43 since the sanctions. Nordic American Tankers jumped 4.81% from $2.08 to $2.18. Tsakos Energy Navigation jumped 1.4% to $2.90 from $2.86.

Two tanker owners that did not fare as well were Teekay Tankers and Teekay Corp.

Monday, Teekay Corp announced it was postponing indefnintely its investor relations day, originally scheduled for Wednesday as it hashed out sanctions-related issues, as Teekay LNG has a joint venture with China LNG Shipping, which is half-owned by Cosco Shipping Tanker (Dalian).

Teekay Corp shares are down 17.82% from $4.49 to $3.69 and Teekay Tankers shares were flat, at $1.26.