GE Shipping, Shipping Corporation of India and other shipping stocks in focus as Iran reportedly planned to mine the Strait of Hormuz
According to a Reuters report, Iran reportedly loaded naval mines onto vessels in the Persian Gulf last month. This activity, which followed Israeli missile strikes on Iranian sites on June 13, has raised alarms in Washington about a potential attempt by Tehran to block the Strait of Hormuz. The narrow waterway is a critical global energy corridor, with nearly 20% of the world's oil and gas shipments passing through it.
Although the mines have not yet been deployed, US intelligence officials view the move as a serious signal. Any disruption in the strait could severely affect global shipping and crude oil logistics, potentially impacting freight rates and boosting the earnings outlook for select shipping players.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Ahmedabad Plane Crash GESHIPShipping Corporation of India
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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