Shipping stocks fell across the board today as Maersk unexpectedly cut its offer, and institutions said it would affect market expectations for the realization of this round of price hikes

Shipping shares fell across the board today. As of the time of writing, Sea Express International (01308) was down 4.33% to HK$22.1; China Ocean Shipping Container Lines (01919) was down 3.25% to HK$11.3; Orient Overseas Container Lines (00316) was down 2.39% to HK$106; Sinotrans (00598) was down 1.12% to HK$3.52.

On the news front, Maersk cut its W46 Shanghai-Felixstowe and Ningbo-Antwerp quotes to US$2,000-US$3,500 (previously US$2,600-US$4,500), Shanghai-Antwerp quotes to US$2,320-US$4,000, and opened W47 Shanghai-Felixstowe and Shanghai-Antwerp quotes at US$2,320-US$4,000. This price cut exceeded market expectations.

SDIC Anxin Futures pointed out that due to the contradiction between the current market volume and price trend, the market originally had doubts about the resilience of this round of carrier price announcements. Maersk's large price cut will directly affect the market's expectations for the realization of this round of price announcements. However, it is unclear whether other carriers will quickly follow the price cut. In addition, carriers are expected to announce a new round of price hikes for December as in previous years.