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Moomoo 24/7 ·  Dec 15, 2023 17:59

By Jerry Kronenberg | Moomoo News

Cargo-ship firms $ZIM Integrated Shipping (ZIM.US)$, $A.P. Moller - Maersk A/S Unsponsored ADR (AMKBY.US)$ and Hapag-Lloyd Aktiengesellschaft (HPGLY) all rose sharply Friday, reportedly on word that shippers have decided to avoid a Red Sea area that’s been prone to attacks by Yemen’s Houthi rebels.

ZIM gained 18% to $9.64, while HPGLY added 14.9% and AMKBY rose 7.1% amid media reports that Maersk and Hapag-Lloyd told captains to halt travel through the Bab al-Mandab Strait near Egypt’s Suez Canal.

Houthi rebels aligned with Iran have recently attacked cargo ships in the strait – especially vessels that they see as tied to Israel. The Houthis say the attacks aim to support Hamas in the Israel-Gaza conflict.

Rebels reportedly attacked a Hapag-Lloyd ship on Friday.

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