Freight and shipping stocks haven't had the easiest run in the past 18 months. Just as the sector got back on its feet heading into the peak season, they've been dealt another tough blow...
A Chinese port that exports 90% of the world's electronics recently shut down.
It's been a major pain point for the maritime shipping world, and it's making efforts to reopen the global economy that much harder.
The shipload impacted by the closure was even larger than the Suez Canal blockage we experienced earlier this year. So the fallout could very well be another rise in the price of goods, which have already been affected by massive inflation.
And I can hear you shouting now...
No, the Federal Reserve doesn't see inflation, so we'll have to save that chestnut for another day.
But regardless of what J-Pow's talking points say, WealthPress Senior Strategist Roger Scott sees a few freight and shipping stocks that are set to rally thanks to the delay... |
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