Is It Time to Consider Shipping Stocks?

News Snapshot:

CL +0.66% Add to/Remove from Watchlist Growing tensions in the Red Sea, a crucial artery for international trade, have sparked a significant shift in the shipping industry. This shift, I believe, offers a compelling case for global shipping stocks. As many readers are already aware, Iran-backed Houthis have recently attacked tankers and cargo vessels sailing through the Red Sea, a passage used by about 12% of global trade. These disruptions, which are related to the Israel-Hamas War, have prompted shippers to seek alternative, though costlier, routes, including around Africa’s Cape of Good Hope. The detour has had an immediate impact:...