Shipping companies slide; analysts say potential swift resolution to Iran conflict could weigh on rates

Shares in shipping companies Maersk MAERSKb.CO and Hapag Lloyd HLAG.DE slide around 3% and 2% respectively, reducing their gains driven by the escalation of the conflict in Iran

Analysts point to a New York Times article published on Wednesday which said that a day after the U.S. and Israel began strikes on Iran, the countries' authorities reached out to the CIA to discuss conditions for ending the conflict

Jyske Bank analyst Haider Anjum, AL Sydbank's Mikkel Emil Jensen and Handelsbanken's Timo Heinonen all note that a quick resolution to the war would mean a smaller-than-expected increase in freight rates

The prospect of higher rates was driving the shippers' shares higher earlier this week