Shipping stocks fall after Russia attacks Ukraine

TOP Ships

24/02/2022 16:58

** Shares of shipping companies and dry bulk carriers
decline following Russia's invasion of Ukraine
    ** Seanergy Maritime Holdings Corp  SHIP.O  down 6.7%
    ** Pyxis Tankers  PXS.O , Diana Shipping  DSX.N , Euroseas
Ltd  ESEA.O , Eagle Bulk Shipping  EGLE.O  and Top Ships
 TOPS.O  decline between 2% and 3.2%
    ** "While it is still too early to tell the implications of
the Russian invasion, Ukraine is responsible for roughly 10% of
the worlds grain exports" - H.C. Wainwright analyst Magnus Fyhr,
who focuses on the maritime sector
    ** As far as oil freight market, any decrease in Russian
exports could be offset by increasing Saudi exports, Fyhr adds
    ** Russia on Thursday launched an all-out invasion of
Ukraine by land, air and sea in the biggest attack by one state
against another in Europe since World War Two  urn:newsml:reuters.com:*:nL1N2UZ089

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))