Key facts
- Chinese shipping and coal stocks outperformed AI suppliers this week.
- Higher freight rates and supply chain disruptions boosted earnings for shipping and coal companies.
Shares of Chinese shipping and coal companies rose this week, contrasting with a significant selloff in artificial intelligence suppliers. The gains were fueled by a prolonged fuel crunch and supply chain disruptions, which bolstered earnings for the shipping and coal sectors. COSCO, a container ship company, reported an 80% profit increase in the third quarter, partly attributed to higher freight rates.