Shares in shipping companies Maersk, Hapag-Lloyd and Frontline rise more than 3-4% as attacks on vessels in the Red Sea continue, liftinginvestors’ hopes for higher freightrates

Despite recent Houthi attacks, Maersk continues to schedule Suez Canal journeys for over 30 vessels, while also placing some Red Sea routes on hold.

It seems that Maersk will go on sailing through the Suez Canal, Nordnet analyst Per Hansen says, adding that investors seem to count onrates that will “more than compensate the higher risk and costs”.

Hansen points out at the same time that Maersk and shipping stocks are among the most volatile.

Stifel analyst Marc Zeck believes there is nothing new to the story — “The unresolved issues in the Red Sea continue to disrupt supply chains which cut into available transport capacity and boosts freight rates,” he says.

Nordic shipping companies Hoegh Autoliners HAUTO.OL, Wallenius Wilhelmsen WAWI.OL and Hafnia HAFNI.OL rise between 1.3% and 3% in morning trade.

Maersk tops Copenhagen blue chip index .OMXC20 and together with Frontline is among best performers on pan-European STOXX 600 index.

Source: Reuters reported by Jesus Calero and Mateusz Dobrzyniewski