Hapag-Lloyd says there will still be no normal shipping network for another 6-8 weeks

The shipping titan weighs in on the current situation in the Middle East Situation in the Middle East is still severely disrupting shipping and supply chainsHopefully the Strait of Hormuz will reopenAbout 1,000 ships are still stuck in the region, six of which are from Hapag-LlyodNone of our ships have passed through the Strait of HormuzThe extra costs… Situation in the Middle East is still severely disrupting shipping and supply chains Hopefully the Strait of Hormuz will reopen About 1,000 ships are still stuck in the region, six of which are fro... Situation in the Middle East is still severely disrupting shipping and supply chains Hopefully the Strait of Hormuz will reopen About 1,000 ships are still stuck in the region, six of which are from Hapag-Llyod None of our ships have passed through the Strait of Hormuz The extra costs per week due to the crisis are around $50 million to $60 million We have no choice but to pass on… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.