Asian Shipping Stocks Rise Amid Middle East Conflict
By Kosaku Narioka
Asian shipping stocks rose as expectations grew that the conflict in the Middle East would force businesses to rush to secure alternative routes to the Strait of Hormuz, even at higher shipping costs.
Japan's Kawasaki Kisen rose 4.0%, China's Cosco Shipping Energy Transportation gained 3.6%, Evergreen Marine Corp. (Taiwan) advanced 3.5% and another Japanese shipper, Mitsui O.S.K. Lines, climbed 2.0%.
Three commercial vessels near the Strait of Hormuz were attacked Sunday, a British Navy watchdog said, as the U.S. and Israel's conflict with Iran spilled into the crucial waterway for trade in energy and other goods.
Disruptions to liquefied natural gas flows through the Strait of Hormuz would reignite competition between Asia and Europe for available cargoes, said Wood Mackenzie analyst Massimo Di Odoardo.
He estimated that roughly 20% of global LNG supply passed through the Strait of Hormuz last year, primarily from Qatar.
Selective drone and rocket attacks on ships have raised the waterway's risk profile beyond acceptable levels for many shippers and insurers, said Helima Croft, head of global commodity strategy at RBC Capital Markets.
--Rhiannon Hoyle contributed to this article.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
March 01, 2026 22:30 ET (03:30 GMT)
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