Vincent Clerc, CEO of Maersk, said that the tension in the Red Sea will continue until the third quarter, and the next few months will be challenging for carriers and businesses. He emphasized that only when the safety of crew, ships and cargo is guaranteed will Maersk resume its passage through the Red Sea/Aden Gulf.
Shipping stocks are up today (2nd), with Cosco Shipping Holdings (01919.HK) opening 2.34% higher and expanding to 14.2 HKD, up 3.95%, with a turnover of 15.3097 million shares, involving 218 million HKD. Orient Overseas (00316.HK) now reports 133 HKD, up 4.97%. Sitc International Holdings (01308.HK) now reports 21.85 HKD, up 3.07%. Pacific Basin Shipping (02343.HK) now reports 2.53 HKD, up 2.85%. Cosco Shipping Energy Transportation (01138.HK) now reports 10.2 HKD, up 0.59%.