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A P Moller Maersk (OTC:AMKAF) Stock, Option Chain

Denmark-listed A.P. Moller-Maersk operates trade, shipping, logistics and terminal assets globally. The oceans segment, the largest contributor to group revenue and earnings, has the second-largest oceangoing shipping capacity globally. Maersk has acquired several logistics firms in the past couple of years and plans for the segment to be the company's growth engine. Over the past few years, Maersk has divested noncore operations, such as its long-standing stakes in Danske Bank and Dansk Supermarked as well as its oil and gas operations and ocean towing.

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ILA and USMX reach tentative deal on new 6-year Master Contract, avoiding potential work stoppage and promoting job growth and port modernization.

US Port Union, Employers Clinch Deal In Time To Avoid Supply Chain Chaos

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Despite the U.S. listing, the Houthi movement has vowed to continue its attacks on ships heading to Israel. The U.S. has imposed the &#34;Specially Designated Global Terrorist&#34; label to cut off the rebels&#39; funding and weapons used in these attacks.

US Reclassifies Houthi Rebels As Terrorists After Second Attack On American-Operated Ship In Red Sea

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Domino’s Pizza China Operator Eyes Hong Kong Listing

Morning Brief: Top Stories Dominating Financial Media on Tuesday, March 29

A.P MOELLER-MAERSK A/S A by A.P. Moeller-Maersk A/S

A P Moller Maersk AS

The International Longshoremen's Association (ILA) and United States Maritime Alliance (USMX) have reached a tentative deal on a new <a target="_blank" href="https://ilaunion.org/international-longshoremens-association-ila-and-united-states-maritime-alliance-usmx-announce-tentative-agreement-on-new-six-year-master-contract/" rel="noreferrer noopener">six-year Master Contrac</a>t.
Both parties agreed to extend the current contract until the union can consult with its full Wage Scale Committee and schedule a ratification vote, while USMX members ratify the finalized terms.
The six-year contract, which expired on September 30 last year, was extended until January 15 after a <a target="_blank" href="https://nrf.com/media-center/press-releases/nrf-praises-tentative-labor-deal-for-east-coast-gulf-coast-ports" rel="noreferrer noopener">three-day strike</a>.
"This agreement protects current ILA jobs and establishes a framework for implementing technologies that will create more jobs while modernizing East and Gulf coast ports – making them safer and more efficient, and creating the capacity they need to keep our supply chains strong,"&nbsp;the parties said in a joint statement.
This tentative agreement, once approved, will avoid a potential work stoppage set for January 15, 2025, according to a report from Reuters.
Both sides have hailed it as a mutually beneficial resolution that will not only help workers but also strengthen the American economy as a global marketplace leader.
"This is a win-win agreement that creates ILA jobs, supports American consumers and businesses, and keeps the American economy the key hub of the global marketplace."
The federation further remarked that securing a new contract and preventing further disruptions is crucial to ensuring that retail goods reach consumers on time.
Details of the contract will remain undisclosed for now as the ILA and USMX members review and give their nod for the terms of the agreement.
"We are pleased to see the ILA and USMX come to a final agreement on a new contract, as U.S. ports on the East and Gulf Coasts play a critical role in the retail supply chain," said the National Retail Federation in its statement.
In October, a three-day strike by the ILA led to a spike in shipping costs and cargo delays at 36 ports. Longshoremen resumed work after employers agreed to a 62% wage increase over the following six years.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/42874054/grocery-giant-albertsons-q3-sales-grow-as-pharmacy-products-shine" target="_blank" rel="noreferrer noopener">Grocery Giant Albertsons Q3 Sales Grow As Pharmacy Products Shine; Boosts Annual Earnings Outlook</a></li>
</ul>
Photo via Shutterstock

The U.S. has reclassified the Yemen-based Houthi rebels as terrorists following their second attack on an American-operated ship in the Red Sea. This move is expected to have a significant impact on global trade.
What Happened: The U.S. has re-added the Houthi rebels to its list of terrorist organizations, reported Reuters. This decision comes in the wake of the rebels&#8217; second attack on a U.S.-operated vessel in the Red Sea region on Wednesday.
The Houthi militia, which is allied with Iran, has been targeting ships in the region since November. These attacks have disrupted trade between Asia and Europe and raised concerns among major global powers.
The Houthis have justified their actions as a show of solidarity with the Palestinians and have threatened to expand their attacks to include U.S. ships in response to American and British military actions.
See Also: <a href="https://www.benzinga.com/news/24/01/36631504/bernie-sanders-says-trump-is-a-bitter-man-whos-going-to-take-it-out-on-his-enemies-if-reelected-but?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bernie Sanders Says Trump Is &#8216;A Bitter Man&#8217; Who&#8217;s &#8216;Going To Take It Out On His Enemies&#8217; If Reelected</a>
Despite the U.S. listing, the Houthi movement has vowed to continue its attacks on ships heading to Israel. The U.S. has imposed the &#8220;Specially Designated Global Terrorist&#8221; label to cut off the rebels&#8217; funding and weapons used in these attacks.
The attacks have led to a significant disruption in global trade, with major shipping lines like A. P. Moller Maersk A/S redirecting their vessels to avoid the Red Sea. This has caused a surge in freight rates and war risk premiums for shipments through the region.
Why It Matters: The U.S. decision to reclassify the Houthi rebels as terrorists comes amid a series of escalations in the region. The rebels&#8217; attacks on ships have already had a significant impact on global trade, with major companies like Shell PLC <a href="https://www.benzinga.com/news/large-cap/24/01/36644653/shell-suspends-red-sea-shipments-as-yemens-houthi-strikes-intensify-an-attack-on-the-global-econom">suspending their Red Sea shipments</a> due to security concerns.
However, there have been some positive developments, such as the <a href="https://www.benzinga.com/news/24/01/36654650/us-uk-airstrikes-temporarily-halt-iranian-arms-shipments-to-yemens-houthi-rebels-but-too-early-to-as">temporary halt of Iranian arms shipments</a> to the rebels following U.S. and UK airstrikes. The effectiveness of these measures is still being assessed.
Despite these efforts, the situation remains volatile, as seen in the recent <a href="https://www.benzinga.com/news/24/01/36627238/houthi-missile-strike-on-us-navy-destroyer-in-red-sea-foiled-by-alert-fighter-aircraft">Houthi missile strike on a U.S. Navy destroyer</a> in the Red Sea, which was successfully intercepted. The U.S. and its allies are working to prevent further escalations and maintain the security of vital trade routes.
Read Next: <a href="https://www.benzinga.com/news/24/01/36635180/microsoft-co-founder-bill-gates-says-im-a-little-worried-about-declining-healthcare-funding?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft Co-Founder Bill Gates Says &#8216;I&#8217;m A little Worried&#8217; About Declining Healthcare Funding</a>
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CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26340981/dominos-pizza-china-operator-eyes-hong-kong-listing-cnbc" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Domino&rsquo;s Pizza China Operator Eyes Hong Kong Listing</a>
<ul>
<li>Domino&rsquo;s Pizza Inc&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dpz#NYSE">DPZ</a>) store operator in China, DPC Dash, is planning to go public on the Hong Kong stock exchange, CNBC reported.</li>
<li>Domino&rsquo;s Pizza has a 15.7% stake in DPC as of the filing date through wholly-owned entities, the report added.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26341075/this-ai-startup-roped-in-big-tech-executives-from-google-meta-as-founding-members" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">This AI Startup Roped In Big Tech Executives From Google, Meta As Founding Members</a>
<ul>
<li>LinkedIn founder Reid Hoffman and DeepMind co-founder Mustafa Suleyman roped in artificial intelligence gurus from Alphabet Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) Google, and Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) for their Inflection AI startup.</li>
<li>Heinrich Kuttler quit his research engineering manager role at Meta AI in London to work on the technical side of Inflection&rsquo;s business.</li>
<li>Joe Fenton quit his senior product manager role at Google to work on the product side of Inflection&rsquo;s business.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/03/26341410/sanctions-on-russia-after-ukraine-invasion-are-likely-to-lead-to-higher-prices-cnbc" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Sanctions On Russia After Ukraine Invasion, Are Likely To Lead To Higher Prices</a>
<ul>
<li>According to an energy expert, consumers will have to be ready for higher prices as Russia continues its war in Ukraine and disruptions to the global energy market persist, writes CNBC.</li>
<li>&ldquo;What is the price consumers in the West are willing to pay for the principle that you cannot invade a sovereign nation [and] rip up the security architecture in Europe?&rdquo; said Helima Croft, global head of commodity strategy of RBC Capital Markets asked.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26341745/porsche-se-supports-volkswagens-ipo-plans-for-porsche-ag-sees-conflict-in-ukraine-affecting-timing-r" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Porsche SE Supports Volkswagen&rsquo;s IPO Plans For Porsche AG, Sees Conflict In Ukraine Affecting Timing</a>
<ul>
<li>Volkswagen AG (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/vwagy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VWAGY</a>) shareholder Porsche Automobil Holding SE (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/poahy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">POAHY</a>) supports plans to list luxury sportscar maker Porsche AG. Still, the conflict in Ukraine could affect the timing of the proposed IPO.</li>
<li>Volkswagen aims to conduct the Porsche initial public offering (IPO) in 4Q22, though that may change if the conflict in Ukraine drags on, Porsche SE&rsquo;s CFO mentioned.</li>
<li>&ldquo;We cannot rule out, if the conflict lasts a longer time, that this could have potential implications on the listing,&rdquo; Johannes Lattwein told a news conference without elaborating on how it would affect plans.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/03/26341992/us-mulls-sanctions-on-russian-supply-chains-says-u-s-treasurys-adeyemo-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Mulls Sanctions On Russian Supply Chains, Says U.S. Treasury&rsquo;s Adeyemo</a>
<ul>
<li>Deputy U.S. Treasury Secretary Wally Adeyemo said that the U.S. and its allies plan new sanctions on more sectors of Russia&rsquo;s economy that are important in sustaining its invasion of Ukraine, including supply chains.</li>
<li>&ldquo;In addition to sanctioning companies in sectors that enable the Kremlin&rsquo;s malign activities, we also plan to take actions to disrupt their critical supply chains,&rdquo; Adeyemo added.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26342141/maersk-warns-shanghai-city-lockdown-will-severely-hurt-trucking-services-and-bump-up-transport-costs" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Maersk Warns Shanghai City Lockdown Will Severely Hurt Trucking Services And Bump-Up Transport Costs</a>
<ul>
<li>P. Moller Maersk A/S (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/amkaf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMKAF</a>) ( (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/amkby#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMKBY</a>) expects the Shanghai lockdown to severely hurt trucking services and increase transport costs as China&rsquo;s intensifying efforts to fight the spread of COVID-19 further rattled the global supply chains.</li>
<li>The Chinese coastal city locked down half of the city and intended to do the same to the other half for four days starting Friday in a two-stage testing exercise, the report noted. While it has kept its airports and deepwater port open, it has imposed stringent movement curbs.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26341079/gm-keeps-up-production-in-china-by-retaining-workers-in-factory-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GM Keeps Up Production In China By Retaining Workers In Factory</a>
<ul>
<li>General Motors Company&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) joint venture in Shanghai, China, is continuing production amid lockdown by making workers sleep on factory floors.</li>
<li>The company has formed an arrangement in which workers sleep, live, and work in isolation from the rest of the world to prevent virus transmission.</li>
<li>General Motors runs the facilities as a joint venture with Chinese state-owned automaker SAIC Motor Corp.</li>
</ul>

WSJ
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/03/26341390/doj-supports-antitrust-bill-targeting-big-tech-read-why-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">DOJ Supports Antitrust Bill Targeting Big Tech - Read Why</a>
<ul>
<li>The Justice Department supported American Innovation and Choice Online Act and similar legislation banning large digital platforms from biasing their products and services over competitors.</li>
<li>The DOJ saw the rise of dominant platforms like Amazon.com Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/amzn#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMZN</a>) and Alphabet Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/goog#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOG</a>) (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>) Google jeopardizing open markets and competition.</li>
<li>Amazon, Google, Apple Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>), and others opposed the legislation arguing that it would make it harder to offer popular services.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26342187/why-vertical-aerospace-shares-are-jumping-today" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Why Vertical Aerospace Shares Are Jumping Today</a>
<ul>
<li>Turkey&rsquo;s leading aviation conglomerate G&ouml;zen Holding agreed to purchase or lease up to 50 VX4 eVTOL aircraft from aircraft leasing company Avolon.</li>
<li>G&ouml;zen also had the option to purchase or lease up to 50 additional aircraft.</li>
<li>In June 2021, Avolon ordered 500 VX4 eVTOL aircraft from Vertical Aerospace Ltd (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/evtl#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EVTL</a>), valued at $2 billion.</li>
<li>Avolon completed placing its entire 500 VX4 eVTOL aircraft order book, which was oversubscribed by 50 options.</li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26341124/aig-files-20b-ipo-for-its-life-insurance-asset-management-business" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AIG Files $20B IPO For Its Life Insurance &amp; Asset Management Business</a>
<ul>
<li>American International Group Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aig#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AIG</a>) has filed for an initial public offering of its life and asset management business, reportedly by far the largest to file for a US IPO this year publicly.</li>
<li>The S-1 registration statement filed on Monday did not give a value for Corebridge. Financial Times, citing people familiar with the process, mentioned the value of approximately $20 billion, consistent with the $2.2 billion Blackstone paid in November for a nearly 10% stake in SAFG.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/03/26338182/bitcoin-bull-cathie-wood-picked-up-more-shares-in-this-crypto-exchange-on-monday" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bitcoin Bull Cathie Wood Picked Up More Shares In This Crypto Exchange On Monday</a>
<ul>
<li>Ark Investment Management, led by Bitcoin BTC/USD bull Cathie Wood, on Monday further raised its exposure in the cryptocurrency-linked fintech stock Coinbase Global Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/coin#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">COIN</a>).</li>
<li>The popular investment firm bought 62,877 shares, estimated to be worth $12.7 million based on Monday&rsquo;s closing price, of Coinbase.</li>
<li>Coinbase stock closed 7.8% higher at $201.4 a share on Monday and is down 19.7% year-to-date.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26339249/tesla-co-founder-jb-straubel-expects-most-electric-vehicle-batteries-to-last-this-long" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Tesla Co-Founder JB Straubel Expects Most Electric Vehicle Batteries To Last This Long</a>
<ul>
<li>Tesla Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsla#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSLA</a>) co-founder JB Straubel, who now runs battery recycling startup Redwood Materials, said on Monday electric vehicle batteries could easily last up to 15 years in most cases.</li>
<li>Straubel said battery life usually tracks the vehicle&rsquo;s life in response to a question from Daniel Yargin, Vice-Chairman, IHS Markit, during a panel discussion at the CERAweek 2022.</li>
<li>&ldquo;I think it&rsquo;s easily going to be 15 years in most cases ... I think people will probably keep the batteries in their cars for a long time and really extract as much utility as they can,&rdquo; Straubel said.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/03/26339194/worlds-largest-crypto-fund-considers-suing-sec-if-bitcoin-etf-is-rejected" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">World&rsquo;s Largest Crypto Fund Considers Suing SEC If Bitcoin ETF Is Rejected</a>
<ul>
<li>Grayscale Investments, the world&rsquo;s largest cryptocurrency asset manager, isn&rsquo;t ruling out a legal battle with the SEC if a spot Bitcoin BTC/USD exchange-traded fund (ETF) stands rejected.</li>
<li>In an interview with Bloomberg on Monday, Grayscale CEO Michael Sonnenshein said that the firm had been putting all of its resources behind converting the Grayscale Bitcoin Trust GBTC into an ETF.</li>
<li>&ldquo;It&rsquo;s really important that investors know that we have and will continue to advocate for them,&rdquo; said Sonnenshein.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/03/26338805/costly-mistake-350-000-bored-ape-nft-sells-for-just-115" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Costly Mistake? $350,000 Bored Ape NFT Sells For Just $115</a>
<ul>
<li>A Bored Ape Yacht Club (BAYC) NFT has sold for just $115, 99.9% lower than its current floor price.</li>
<li>According to data from OpenSea, Bored Ape #835 sold for $115 worth of DAI DAI/USD on Monday. The floor price, or the minimum price to acquire a BAYC NFT, was 106 ETH worth $350,000 at the time of writing.</li>
<li>It was unclear why the Bored Ape holder, known by the pseudonym &ldquo;cchan&rdquo;, accepted such a low bid.</li>
</ul>

<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/22/03/26339336/rumors-about-apple-cutting-airpods-orders-not-true-says-analyst" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Rumors About Apple Cutting AirPods Orders Not True, Says Analyst</a>
<ul>
<li>Two electronics manufacturing service (EMS) suppliers of AirPods have publicly denied rumors about Apple Inc. (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) cutting orders for the earphones this year, long-time Apple analyst Ming-Chi Kuo noted.</li>
<li>Kuo noted that the China-based suppliers Luxshare Precision and GoerTek have denied rumors about Apple cutting AirPods orders by 10 million units for this year.</li>
</ul>
Photo via Wikimedia

A. P. Moller Maersk A/S&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/amkaf#OTC">AMKAF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/amkby#OTC">AMKBY</a>) expects the Shanghai lockdown to severely hurt trucking services and increase transport costs as China&#39;s intensifying efforts to fight the spread of COVID-19 further rattled the global supply chains,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/maersk-warns-shanghai-city-lockdown-boost-transport-costs-further-2022-03-29/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported Reuters</a>.
What Happened:&nbsp;&nbsp;The Chinese coastal city locked down half of the city and intended to do the same to the other half for four days starting Friday in a two-stage testing exercise, the report noted. While it has kept its airports and deepwater port open, it has imposed stringent movement curbs.
Reuters report quoted Maersk saying, &quot;Trucking service in and out (of) Shanghai will be severely impacted by 30% due to a full lockdown on Shanghai&#39;s Pudong and Puxi areas in turn until 5th April.&quot;&nbsp;&nbsp;
&quot;Consequently, there will be longer delivery time and a possible rise in transport costs such as detour fee and highway fee.&quot;
The report also quoted SEKO Logistics, a U.S.-based freight transport, and warehousing company, stating that the factories in the neighboring province of Zhejiang were opting to move cargo out of Ningbo&#39;s port rather than Shanghai.
Why It&#39;s Important:&nbsp;The new lockdowns in China have resulted in production disruptions and supply chain delays.
Price Action: AMKBY shares closed higher by 3.85% at $15.77 on Monday.
photo via Wikimedia

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