By David SachsHapag-Lloyd shares jumped in early trading Monday after the company said it would pause shipments through the Red Sea following an attack on one of its vessels. At 0831 GMT, shares in the German shipping company were up 1.8% at EUR128.00 after climbing as high as EUR132.50. The attack occurred on a key route to the Suez canal, the company said. "We see the Suez Canal disruption, if prolonged, as potential upside risks to container rates likely until Chinese New Year's seasonal trough sets-in," the analysts said. Write to David Sachs at david.sachs@wsj.com(END) Dow Jones NewswiresDecember 18, 2023 03:50 ET (08:50 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal December 18, 2023 12:06 UTC