Shanghai Lockdown Could Push the Container Shipping Rate Higher
Written by Moneypig Trading Inc. on March 30, 2022
Shanghai is currently on lockdown by regions due to another wave of COVID19 outbreaks. Drewry container shipping is currently not reflecting the lockdown. However, once the lockdown gradually finishes, all the accumulated goods and cargo in Shanghai will have to be shipped out. Therefore, the Shanghai lockdown could push the container shipping rate higher starting around April 5th, 2022. The ports worldwide are still congested and the shipping peak season from July to October is coming up soon. Perhaps the container shipping cost will remain elevated throughout the rest of 2022.
Container shipping stocks Matson ($MATX) continue to push into all-time-high. Our favorite $ZIM pulls back heavily after ex-dividends ($17/share dividends!!) from $91 to $67, but quickly bounces back to $73. We still remain bullish on $ZIM with the price target at $100/share.
Not only the container shipping is affected, but dry bulk and tanker shipping will be affected as well. It will be interesting to see how all these shipping stocks react in the next few weeks. If you are new to shipping, feel free to check out our Youtube video here about different types of shipping: container, dry bulk, and tankers.
Moneypig Trading has a very robust discord program (https://moneypigtrading.com) with a great track record. Since Oct 2020, our winning rate is always larger than 50% except Jan 2022, and our average return per trade is always larger than 0% except Jan 2022. These numbers suggest we pretty much always make money every month, again, except Jan 2022.
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Thank you for reading and have a great day!
Moneypig Trading team
Just a quick disclaimer: Moneypig Trading (https://www.moneypigtrading.com/) is not a financial advisor. Please invest at your own risk. We are also long $ZIM stocks and call options.