Container shipping stocks, including Hapag Lloyd (LSE:0RCG), Danaos (NYSE:DAC), and A.P. Moeller Maersk (LSE: 0O77), have surged amid the spread of the coronavirus. The pandemic and government stimulus led to a rise in demand for goods and, in turn, pushed freight rates higher. Notably, freight rates are a key driver of profitability for container shipping companies. Now What? Earlier, Hapag Lloyd stated that container shipping companies benefitted from significantly increased freight rates due to the high global demand for consumer goods in 2021. The company projects tight container transport capacity and demand to support growth in 2022.
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