Shipping company shares sink on possible slowing of Red Sea hostilities

seekingalpha06-11

Shipping company shares are under heavy selling pressure Tuesday as investors weighted news of a possible ceasefire between Israel and Hamas, which could result in merchant vessels returning to the ...

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DQuek
07-17
DQuek
This war seems like no chance to end by 2024. Will b prolong till hopefully after US presidential election!

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Shares in A.P. Moller-Maersk   and Hapag-Lloyd  , which had raised guidance along with Q1 earnings as the Red Sea conflict pushed prices up, both fell more than 6% in European afternoon trading. In early U.S. trading, ZIM Integrated Shipping  -13.6%, Frontline  -5.1%, Scorpio Tankers  -4.4%, Torm  -4.4%, Safe Bulkers  -4%, Teekay Tankers  -3.8%, Danaos  -3.8%, Tsakos Energy Navigation  -3.5%, Star Bulk Carriers  -3.2%, Euronav  -3%, Costamare  -2.9%, International Seaways  -2.8%, Nordic American Tankers  -2.5%, Teekay Corp.  -2.3%. 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Moller-Maersk (OTCPK:AMKBY) (OTCPK:AMKBF) and Hapag-Lloyd (OTCPK:HLAGF) (OTCPK:HPGLY), which had raised guidance along with Q1 earnings as the Red Sea conflict pushed prices up, both fell more than 6% in European afternoon trading. In early U.S. trading, ZIM Integrated Shipping (ZIM) -13.6%, Frontline (FRO) -5.1%, Scorpio Tankers (STNG) -4.4%, Torm (TRMD) -4.4%, Safe Bulkers (SB) -4%, Teekay Tankers (TNK) -3.8%, Danaos (DAC) -3.8%, Tsakos Energy Navigation (TNP) -3.5%, Star Bulk Carriers (SBLK) -3.2%, Euronav (EURN) -3%, Costamare (CMRE) -2.9%, International Seaways (INSW) -2.8%, Nordic American Tankers (NAT) -2.5%, Teekay Corp. (TK) -2.3%. A ceasefire agreement likely would lead to a reduction or complete stop of Houthi attacks on ships in the Red Sea, which could see container ships return to the key shipping lane, meaning that 4% of global fleet capacity will come to market in 3-4 weeks, Kepler Cheuvreux chief analyst Axel Styrman said, according to Dow Jones.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":328296206409936,"gmtCreate":1721180504203,"gmtModify":1721180740814,"author":{"id":"3579899712012688","authorId":"3579899712012688","name":"DQuek","avatar":"https://static.tigerbbs.com/0041a6750d53c4d39f0f9251bea439d3","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"3579899712012688","authorIdStr":"3579899712012688"},"htmlText":"This war seems like no chance to end by 2024. Will b prolong till hopefully after US presidential election!","listText":"This war seems like no chance to end by 2024. Will b prolong till hopefully after US presidential election!","text":"This war seems like no chance to end by 2024. Will b prolong till hopefully after US presidential election!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/328296206409936","repostId":2442313639,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":1,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2442313639"}