Shipping stocks rise following Red Sea attacks on merchant ships

<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Shipping-stocks-rise-following-Red-Sea-attaches-on-merchant-ships-5687299910-iStock-1178940376-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Shipping-stocks-rise-following-Red-Sea-attaches-on-merchant-ships-5687299910-iStock-1178940376-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Shipping-stocks-rise-following-Red-Sea-attaches-on-merchant-ships-5687299910-iStock-1178940376-700×467.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Shipping-stocks-rise-following-Red-Sea-attaches-on-merchant-ships-5687299910-iStock-1178940376-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Shipping-stocks-rise-following-Red-Sea-attaches-on-merchant-ships-5687299910-iStock-1178940376-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Shipping-stocks-rise-following-Red-Sea-attaches-on-merchant-ships-5687299910-iStock-1178940376-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Shipping-stocks-rise-following-Red-Sea-attaches-on-merchant-ships-5687299910-iStock-1178940376-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-Shipping-stocks-rise-following-Red-Sea-attaches-on-merchant-ships-5687299910-iStock-1178940376.jpg 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p>As a result, European shipping stocks are likely to continue trading in a volatile manner due to concerns about disruptions in Red Sea routes caused by militant attacks, potentially leading to increased freight rates.</p>
<p>The threats near Egypt’s <a href="https://www.leaprate.com/forex/market-news/daily-market-commentary-the-blockage-of-the-suez-seems-to-be-solved-in-the-short-term/" target="_blank" rel="noopener">Suez Canal</a> may impact rates as vessels opt for alternative, longer routes. Key players such as Moller-Maersk, Hapag-Lloyd, and ZIM Integrated Shipping will be closely watched.</p>
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<p>European shipping stocks saw gains after Maersk announced a pause in Red Sea voyages following recent attacks. This development, alongside major shipping lines suspending transit through the Red Sea, has also pushed oil prices higher during the market opening.</p>
<p>The company released a statement, saying:</p>
<blockquote><p>Following the near-miss incident involving Maersk Gibraltar yesterday and yet another attack on a container vessel today, we have instructed all Maersk vessels in the area bound to pass through the Bab al-Mandab Strait to pause their journey until further notice.</p></blockquote>
<p>The vessel “Maersk Gibraltar” was targeted by a missile while en route from Salalah, Oman, to Jeddah, Saudi Arabia. The crew and vessel were confirmed safe.</p>
<p>However, the shipping company denied the claim made by Yemen’s Houthi movement that they had struck a Maersk vessel sailing toward Israel. The Houthis asserted that they conducted a military operation, hitting a Maersk container vessel with a drone, but provided no evidence.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/market-news/shipping-stocks-rise-following-red-sea-attaches-on-merchant-ships/">Shipping stocks rise following Red Sea attacks on merchant ships</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>