Reported about 1 year ago
Due to the impact of the Israel-Palestine ceasefire agreement, the shipping industry faced heavy selling pressure on May 11 in the Asian, European stock markets, and futures markets. The global tight capacity crisis caused by the Red Sea crisis is expected to ease as ships have been rerouted due to Houthi attacks, leading to oversupply concerns and potential price drops. Container shipping companies like Wan Hai, Yang Ming, and Evergreen suffered stock declines, with potential scenarios including a return to original freight prices if the crisis eases or a supply-demand imbalance if it continues.
Source: YAHOO