On June 23 local time, Yemen Houthi military spokesman Yahya Sariyah issued a statement claiming to have used drones to strike the "Cross-World Navigator" in the Red Sea.
In the afternoon of June 24, the shipping index's main contract broke through 5400.0 points and rose 3.63% on the day.
On June 23 local time, Yemen Houthi military spokesman Yahya Sariyah issued a statement claiming to have used drones to attack the "Cross-World Navigator" in the Red Sea, and missile attacks were carried out on the "Stott Red Giant" in the Indian Ocean. The Houthi armed forces said the two ships were targeted because the companies that owned them violated the decision to ban entry into Israeli ports.
Lars Barstad, CEO of Frontline (FRO.US), stated on Wednesday that even if there is a ceasefire between Israel and Palestine, it is unlikely that shipping companies will return to the Red Sea 'soon' due to the Houthi rebels' attacks on ships in Yemen.
Since Houthi rebels began attacking ships passing through the Red Sea in November last year, the stock prices of Frontline and other shipping companies have risen sharply because ships have been forced to bypass the Cape of Good Hope in Africa, pushing up shipping prices.
HTSC's report stated that since the beginning of this year, due to strong export demand and the impact of bypassing the Red Sea, container shipping rates have risen sharply and the market is highly prosperous. Looking ahead to the second half of the year, the bank expects the bypassing of the Red Sea to continue, resulting in increased cargo volume at transit ports, and congestion at ports has gradually appeared since May. As for demand, the traditional peak season in Europe and the United States is expected to come in the third quarter, with cargo volume expected to rise quarter by quarter, and shipping rates are expected to rise further.
In the medium to long term, it is expected that new ship deliveries will increase from 2023 to 2026, but the structural changes in capacity deployment caused by industry restructuring will significantly increase the newly added capacity in emerging markets, and the growth in tonne-miles demand is expected to drive the industry's profit center.
Related companies in the marine transportation industry chain include:
OOIL (00316), Pacific Basin (02343), Cosco Shipping Holdings (01919), Cosco Ship Engy (01138), China International Marine Containers (02039), and others are companies related to the marine transportation industry chain.