STX Green Logistics has recorded its upper limit for the second consecutive day as geopolitical risks surrounding the Hormuz Strait resurface. The expectation of rising global shipping rates due to a potential blockade of the strait has stimulated investor sentiment.
According to the Korea Exchange, as of 1:49 PM on July 14, STX Green Logistics was trading at 3,300 won, up 760 won (29.92%) from the previous trading day. The stock has surged to its price limit for two days in a row, reflecting strong buying interest.
This surge is attributed to U.S. President Donald Trump's announcement of a renewed maritime blockade against Iran, which has heightened tensions in the Middle East. On July 13, Trump stated on the social media platform Truth Social, "We are resuming the blockade against Iran. We will protect the Hormuz Strait and we will be compensated for it."
Market analysts are noting that if tensions in the Hormuz Strait persist, there could be an increase in rerouted shipping, leading to higher marine insurance and transportation costs, which would likely drive up global shipping rates. The Hormuz Strait is a strategic chokepoint through which a significant portion of the world's oil maritime traffic passes, and any restrictions or escalated risks could result in increased shipping and logistics costs.
STX Green Logistics is a bulk shipping company that transports coal, iron ore, and agricultural products. While it has limited direct business ties to the Hormuz Strait, the anticipated rise in shipping rates due to a blockade has attracted investor interest.
* This article has been translated by AI.
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