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Ukraine-Russia war pushes freight charges up. Time to buy shipping stocks?

GE Shipping could see another 5 per cent jump, while other shipping stocks are displaying testing times

shipping, shipping industry, ports
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Avdhut Bagkar Mumbai
The shares of Great Eastern Shipping Company, Seamec, and Shipping Corporation of India were mixed on Monday as the Russia-Ukraine crisis kept investors on the edge.

The invasion of Ukraine by Russian forces has triggered panic among Indian exporters, coming as it does after over a year of high freight rates and container shortages. Freight rates to several ports in India had jumped eight to ten times last year and are already on a rise in the last one week.

According to shipping companies, the cost of chartering a 4,200 TEU (20-foot equivalent unit) has soared from around $8,000 a

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First Published: Feb 28 2022 | 2:32 PM IST

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