Shares of shipping and energy companies rose against backdrop of development of military operations in Red Sea

Shares of shipping and energy companies rose on Friday, after the United States and Britain launched air strikes on Yemen, which led to a rise in the prices of crude oil and shipping. The shares of the German shipping company "Hapag-Lloyd AG" rose about 4.8 percent, while the shares of "A.P. Moller-Maersk" A/S rose to 3.9 percent. The shares of the Polish company "Frontline Plc" also jumped by more than five percent, while the shares of the Danish company "DSV AS" also rose by 5.8 percent, in addition to the shares of Asian shipping companies rising significantly, as the shares the South Korean company "Korea Line Corp" jumped by up to 0.24 percent. It is expected that the majority of shipping company stocks will achieve significant gains for the second month in a row, amid expectations that long detours to avoid escalation in the Red Sea will enhance high shipping prices. Source: Yemen News Agency