Maersk slumps 5% as the end of U.S. port strikes weighs on European shipping stocks

Shares of Moller-Maersk slumped on Friday as European shipping companies fell on the conclusion of a U.S. port strike.

A prolonged strike would have provided a boost for European shippers to take a larger share of global supply chain demands.A major union for U.S. dockworkers and the United States Maritime Alliance on Thursday brokered a tentative deal on wages and extended their existing contract through Jan. 15 to provide time to negotiate a new agreement.

Thursday's deal ended a strike that had choked U.S. East Coast and Gulf Coast ports since the start of the week and threatened U.S. supply of Hapag-Lloyd said Friday that it could take around three to four weeks to clear the vessel backlog in U.S. ports.

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Maersk slumps 7% as the end of U.S. port strikes weighs on European shipping stocksShares of Moller-Maersk slumped more than 8% Friday as European shipping companies fell on the conclusion of a U.S. port strike.
स्रोत: CNBC - 🏆 12. / 72 और पढो »

Maersk slumps 6.5% as the end of U.S. port strikes weighs on European shipping stocksShares of Moller-Maersk slumped more than 8% Friday as European shipping companies fell on the conclusion of a U.S. port strike.
स्रोत: NBCNewYork - 🏆 270. / 63 और पढो »

European stocks higher with central bank decisions in focus; Commerzbank shares hit 12-year highEuropean stocks were higher Tuesday, as upcoming central bank meetings remain in focus.
स्रोत: NBCNewYork - 🏆 270. / 63 और पढो »