Houthi Attacks in the Red Sea Add $22 Billion to Valuations of Shipping Companies

• Attacks are forcing international shipping to go around Africa
• Longer voyages mean fewer vessels available for charter

 

Houthi assaults on merchant ships as they sail through the Red Sea are driving up the shares of firms transporting everything from manufactured goods to oil and commodities.

The combined market capitalization of the world’s largest publicly traded shipping companies has jumped by about $22 billion since Dec. 12, when the assaults really ramped up.

https://www.bloomberg.com/news/articles/2023-12-20/houthi-red-sea-attacks-add-22-billion-to-valuations-of-shipping-companies