US Stock Market Move | ZIM.US soared more than 10% and Maersk raised shipping prices.

On Monday, ZIM.US surged more than 10% to $20.19. In terms of news, major shipping companies have announced an increase in spot freight rates. For example, Maersk announced that starting from June 9th, a peak season surcharge of $2000 per FEU will be implemented on the China to US route (currently $2300/3300 for US West Coast/US East Coast respectively). According to feedback from freight forwarders, some shipping companies have even offered rates of $10,000 per FEU for the US East Coast route starting from June 7th. Goldman Sachs Group, Inc. believes that the temporary suspension of retaliatory tariffs for 90 days, as stipulated in the US-China trade agreement starting from May 14th, is expected to boost container shipping rates and profitability.