Adani Ports, Aegis Vopak fall up to 6%; shipping, logistics stocks sink on Strait of Hormuz disruption fears

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Shipping and logistics stocks extended their slide on Monday afternoon as surging crude prices and fears of disruption in the Strait of Hormuz triggered a broad sell-off in trade-linked counters. At 1:45 pm, the Sensex was down 1,652 points or over 2 percent at 79,635, while the Nifty fell 503 points to 24,675. Market breadth remained extremely weak, with 3,412 stocks declining against just 551 advances on the NSE.Among the sharpest losers were Adani Ports and Special Economic Zone shares, which dropped 5.61 percent, and Aegis Vopak Terminals, down 6.07 percent. Essar Shipping stock fell 5.58 percent, Gujarat Pipavav Port slipped 3.75 percent, and Shipping Corporation of India declined 3.71 percent. Great Eastern Shipping also traded lower by over 4 percent.Among logistics stocks, Gateway Distriparks stock fell over 3 percent to Rs 57.06, while Delhivery shares were down 1.4 percent at Rs 427.5Strait of Hormuz in focusThe sell-off in logistics and port operators comes as crude oil prices surged sharply amid escalating military conflict in the Middle East. Brent crude jumped 6.4 percent to around $77.57 per barrel, after briefly crossing $82 earlier, while US crude rose over 6 percent. The conflict has intensified concerns over the Strait of Hormuz, a critical maritime chokepoint through which roughly a fifth of the world’s seaborne oil trade passes.According to Reuters, marine tracking data showed tankers piling up on either side of the strait amid heightened security risks and insurance uncertainties. Jorge Leon, head of geopolitical analysis at Rystad Energy, told Reuters that the “effective halt of traffic through the Strait of Hormuz” could prevent 15 million barrels per day of crude from reaching markets, warning of “a significant upward repricing of oil” if de-escalation signals do not emerge swiftly.For Indian port and shipping operators, the risk is twofold: higher fuel costs for vessels and potential disruption in trade volumes if shipping routes are delayed or rerouted. Elevated war-risk insurance premiums and slower vessel movement can also increase operational costs and affect cargo throughput.Ports, shipping and terminal operators such as Adani Ports, Gujarat Pipavav, Shipping Corporation of India, Great Eastern Shipping, Essar Shipping and Aegis Vopak -- all linked to cargo movement, freight and energy logistics -- are the ones usually impac...

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