The shipping world is in chaos -- and not just because of the Iran war and the Strait of Hormuz closure. Two of the largest shipping companies are signaling that higher prices are on the horizon, and waves from their wake could buffet some of the biggest U.S. stocks.
Denmark's A.P. Moeller-Maersk and Germany's Hapag-Lloyd reported quarterly financials on Thursday, with both stocks rallying in European trading. Maersk gained 9.2% in Copenhagen and Hapag-Lloyd rose 3.7% in Frankfurt. Maersk raised its earnings guidance for 2026 for the second time this year and Hapag-Lloyd delivered higher volumes and spot rates.
For investors, the outlook for shipping is more interesting than the performance of the companies themselves, as the industry straddles the global economy and has a bearing on U.S. stocks.
"Strong, broad-based demand from the Far East since 2024 has resulted in significantly more unbalanced trade flows, with volume levels that are challenging landside infrastructure capacity. From ports to inland transportation, we are seeing increased congestion and disruption across multiple geographies," said Maersk CEO Vincent Clerc. "With bottlenecks remaining deeply entrenched, we must continue to invest in critical trade infrastructure and scale."
Landside disruptions can come from port infrastructure that is inadequate for the volume of goods passing through, or from trucking delays when transporters seek an alternative to shipping, as happened when Panama Canal fees skyrocketed.
"The second quarter was better than the first, driven by significantly higher spot rates and robust demand," said Hapag-Lloyd CEO Rolf Habben Jansen. "Additionally, the terminal business continues to grow and is becoming increasingly strategically relevant, supported by strong throughput and investment in new assets. In the second half of 2026, we will remain focused on growing both our liner shipping and terminal businesses."
In an interview with CNBC, Jansen noted that ports in Asian hubs like Shanghai were struggling to meet demand. Capacity constraints could cause delivery delays and higher prices. Higher prices would be good for the shipping companies, which may be of interest to American investors.
While Maersk's and Hapag-Lloyd's primary listings are in Europe, they also trade via American depositary receipts in the U.S. on over-the-counter markets under the tickers AMKBY and HPGLY, respectively. Investors may also want to eye the SonicShares Global Shipping exchange-traded fund, which has rallied 44% this year amid shipping disruptions.
Higher shipping prices and delivery delays could boost air freighters like FedEx and UPS. Freight forwarders such as Expediters International of Washington and C.H. Robinson Worldwide can benefit by expanding their margins.
There are also implications for auto makers like Ford, GM, and Tesla, which rely on fast-changing global supply chains for parts and logistics to help them export. Foreign car makers that assemble in the U.S., such as Germany's BMW, are also affected.
Retailers have other considerations. If capacity constraints cause delays, outlets such as Walmart and Target might look to boost inventory ahead of the critical holiday season, which could increase warehousing costs and reduce profit margins.
Shipping isn't just shipping. As the Strait of Hormuz closure made clear for oil and other commodities, logistical snags have ripple effects felt far beyond the shoreline.
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