Shares of shipping companies most likely to be affected by the escalating violence in the Middle East logged solid gains in early trading in New York on Friday as investors reacted more aggressively than their counterparts in Asia and Europe.
The largest movement came in tanker stocks currently most reliant on passage in the Red Sea. These moved up between 2% and 5% in the first two hours of trading, with the notable exception of Belgian owner Euronav.
