Risks to container ships and their crews are escalating by the day in the Red Sea — and with that rising danger comes the prospect of higher shipping rates.
Amid Friday’s attacks and growing evidence of route delays and diversions, the share price of ocean carrier Zim (NYSE: ZIM) spiked 18% in more than quadruple average trading volume. Shares of Hapag-Lloyd surged 16%. Maersk’s stock closed up 8%.
It’s yet another example of how bad things — wars, viruses, weather disasters — can equate to...
https://www.freightwaves.com/news/why-attacks-on-container-ships-caused-container-stocks-to-jump