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

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