Aegis Vopak, Gujarat Pipavav shares fall up to 7% as shipping, logistics stocks slide on global supply disruptions
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The weakness in shipping and logistics stocks today comes amid rising uncertainty in global trade and energy markets after the conflict in the Middle East disrupted tanker movements through the Strait of Hormuz.
- Shipping and logistics stocks fell amid global market volatility
- Aegis Vopak down 7%, Gujarat Pipavav drops 5%
- Middle East conflict disrupted tanker routes, raising LNG prices
Shares of shipping and logistics companies declined on Tuesday, with Aegis Vopak Terminals dropping more than 7 percent and Gujarat Pipavav Port falling over 5 percent, as volatility in global energy and shipping markets weighed on transport-linked stocks.
Aegis Vopak stock was trading at Rs 200.86, down 7.24 percent, placing it among the top losers on the BSE Midcap index. Gujarat Pipavav Port slipped 5.17 percent to Rs 163.29, while Shipping Corporation of India fell about 3.5 percent to Rs 247.5.
Other logistics-linked stocks were also under pressure. Delhivery declined around 3.3 percent to Rs 413.95, Essar Shipping dropped nearly 3 percent to Rs 23.58, and Gateway Distriparks edged lower by about 1.4 percent to Rs 55.99. Shares of Adani Ports and Special Economic Zone also slipped around 1.9 percent to Rs 1,443.20.
In contrast, Great Eastern Shipping bucked the trend and was trading modestly higher, up nearly 1 percent at Rs 1,338.80.
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The weakness in shipping and logistics stocks comes amid rising uncertainty in global trade and energy markets after the conflict in the Middle East disrupted tanker movements through the Strait of Hormuz, a critical shipping route for oil and gas cargoes. Reports indicated that daily freight rates for liquefied natural gas carriers jumped more than 40 percent earlier this week as tanker traffic tightened following the escalation in the region.
The disruption has also pushed Asian liquefied natural gas prices sharply higher, with spot prices rising to around $25.4 per million British thermal units (mBtu) — the highest level since 2023 — after output at Qatar’s major LNG export facilities was halted.
The broader equity market was also under pressure. At around 2:05 pm, the Sensex was down 1,259 points or 1.6 percent at 78,979.8, while the Nifty declined 420 points to 24,445.7.
Market volatility spiked sharply during the session, with the India VIX jumping over 23 percent. Market breadth remained weak as well, with about 795 shares advancing against 3,096 declining stocks on the exchanges.
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