Maersk Share Price Rises on Ratings Upgrade and Extended Red Sea Travel Halt
  • 4 months ago
Shipping giant Maersk saw its share price increase again in Wednesday morning trading as investors assessed a rating upgrade and its decision to prolong halting travel through the Red Sea due to safety concerns from Houthi attacks. Maersk began rerouting ships around the Cape of Good Hope in South Africa on December 19th to avoid the Red Sea, adding 30% extra time to trips between Asia and Europe. Freight rates on Maersk's biggest Asia-Europe trade lane have roughly tripled since early December.
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