0802 GMT - Shipping stocks rise after Israel's wide-ranging attack on Iran's nuclear program and military leadership raised the prospect of trade disruptions that could push freight rates higher. Shares in Danish shipping giants A.P. Moller-Maersk jump 4.3%, while Germany's Hapag-Lloyd rises 4.2%. Oslo-listed oil tanker shipping company Frontline climbs 7.1%. In Asia, Hong Kong-listed shares in Cosco Shipping rise 4.8%, while Taiwan's Yang Ming Marine Transport is up 2.9%. If the consequence of more tensions in the Middle East is that sailing through the Suez Canal is postponed, this could keep freight rates higher than otherwise, Sydbank analysts write in a research note. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
June 13, 2025 04:03 ET (08:03 GMT)
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