Spot Container Shipping Rates Soar 173% on Red Sea Diversions

Suez traffic is down 28% in past 10 days, IMF PortWatch says

The spot rate for shipping goods in a 40-foot container from Asia to northern Europe now tops $4,000, a 173% jump from just before the diversions started…

— Tracy (𝒞𝒽𝒾 ) (@chigrl) January 4, 2024

Short interest in $ZIM is unreal and people are going to lose their shirts. Why? Because the number of bad takes I've seen regarding shipping equities is unreal.

You have logistics "experts" all over network TV and podcasts swallowing the line that shipping companies are going… https://t.co/5j2MEXojer

— John Ʌ Konrad V (@johnkonrad) January 4, 2024

$ZIM

Let the games begin! Shorts are desperately hoping for a backtest, but longs understand that it’s trading at half of cash & equivalents, it’s about to generate cash, it’s the best hedge on the Red Sea issue, and the company has a formulaic and generous dividend policy. https://t.co/0KkgrxsoPf pic.twitter.com/xvWYdaDiQk

— GT (@FoamOnTheRunway) January 4, 2024

Pareto on VLCC supply: “A truly unprecedented situation” pic.twitter.com/96CkKcXZd3

— Ed Finley-Richardson (@ed_fin) January 5, 2024