Shares of Moller-Maersk slumped more than 8% Friday as European shipping companies fell on the conclusion of a U.S. port strike.

Shares of global shipping companies tumbled Friday, as the suspension of the U.S. dockworkers' strike reduces the possibility of higher freight rates from snarled supply chains.

The International Longshoremen's Association (ILA) workers union and United States Maritime Alliance (USMX) port operators announced the deal and an immediate end to the strike la

Europe’s top shipping firms would have benefited from a more prolonged strike in U.S. ports that would have let them capture a larger share of global trade

Long lines of container ships queued up outside major U.S. ports on Thursday as the biggest dockworker strike in nearly half a century entered its third day preventing unloading and threatening shortages of everything from bananas to auto parts.

Shares of Asian shipping companies fell sharply after U.S. port workers suspended a three-day strike, dashing hopes for higher freight rates as a result of limited supply.

Shares in shipping companies fell heavily across Asia on Friday after workers and U.S. port operators agreed a deal to end a strike on the East and Gulf coast docks far sooner than expected.