Reported about 1 year ago
Shipping sector is booming with container shipping giants seeing stock prices rising alongside a slight increase in bulk shipping stocks. Analysts note that European container index continues to hit record highs and the lingering issue at Singapore's port remains unresolved, keeping the fundamentals positive. Seasoned securities analyst Hsu Bo-jie emphasizes that the shipping sector fundamentals remain unchanged, with freight rates remaining high and positive impacts from the European container index on the market. Various challenges like the Suez Canal crisis, issues at Singapore port, and ongoing strikes by US port workers have impacted the industry, leading to an early peak season for container shipping in June this year.
Source: YAHOO