MW: Container shipping companies have been on a tear. That won't halt soon, say analysts

MARKETWATCH wrote on Monday 13 May:

Shares of container shipping companies were climbing on Monday, keeping pace with a recent run of momentum that analysts say is unlikely to end soon.

In Taiwan, stock of Yang Ming Marine Transport (TW:2609) jumped 9.9%, following a 5.5% gain last Thursday and 9.9% gain on Friday. Denmark’s AP Moeller Maersk (DK:MAERSK.B) climbed over 7%, reopening after a two-day market holiday in Copenhagen. The shares rose three straight sessions ahead of that break.

U.S.-listed Israeli group, ZIM Integrated Shipping Services (ZIM), which has seen six straight sessions of gains that includes a 8.3% pop on Friday, rose 4% in premarket trading.

Those shares have climbed alongside higher freight rates…

The full post can be read here.