Container Shipping Stocks Rally as Global Freight Rates Surge

Container shipping stocks are trading higher.

**COSCO SHIP HOLD (HKEX: 01919)**

The share price of COSCO SHIP HOLD has risen 5.86% to HK$15.

**OOIL (HKEX: 00316)**

The share price of OOIL has gained 5.22% to HK$143.2.

Reports indicate that global container freight rates continue to surge sharply. This is driven by factors including disruptions to passage through the Strait of Hormuz, which have caused marine fuel costs to spike by nearly 70%. Shipping companies are passing these cost pressures on to cargo owners.

It is anticipated that if normal traffic through the Strait of Hormuz cannot resume promptly, market disruptions will intensify further.

Analysts note that freight rate trends remain strong during the peak shipping season, with the overall market maintaining an upward trajectory. The peak for rates is likely to occur between July and August.

As June progresses, cargo volumes are gradually increasing in line with the traditional seasonal pattern, with long-term contract customers actively shipping goods. Freight rate increases announced in early June have been fully implemented, exceeding some expectations.

Maersk has already announced a rate increase for its European routes, effective from June 15th, raising prices to $4,700 per forty-foot equivalent unit (FEU). Market attention is now focused on the implementation of further rate hikes announced in late June and any subsequent new announcements.