Aerial view of Dundalk Marine Terminal in Baltimore, Maryland, on October 3, 2024.
Anna Money Tree | Getty Images
shares Moller-Maersk Shares plummeted more than 8% at the open on Friday as European shipping companies fell on the end of a deal Strikes at U.S. ports.
The American Longshoremen and the American Maritime Union reached a tentative agreement on wages on Thursday and extended the existing contract until Jan. 15 to provide time for negotiations on a new deal.
A prolonged strike would help European shippers capture a greater share of global supply chain demand.
As of 8:44 a.m. London time, Maersk’s share price narrowed its losses slightly, falling 7.2%.
German lloyd table Swiss logistics company fell 12.72% Kuehne+Nagel Also down 1.66%.
Thursday’s deal ends strikes at U.S. East Coast and Gulf Coast ports that have been underway since the start of the week and threatened U.S. supplies fruitpharmaceuticals and automobiles, etc. Other products.
Even during the brief strike, U.S. supply chains suffered significant disruptions, with billions of dollars of goods stranded overseas ahead of the busy holiday shopping season.
This is a breaking news story. Please check back for updates.
