Kenon: A Volatile Utility Company Exposed To An Uncertain Shipping Market

Oct. 11, 2022 4:06 PM ETKenon Holdings Ltd. (KEN) StockXLU, KEN1 Comment

Summary

  • Global shippers enjoyed a boom in 2021 and early 2022 as international supply chains were in upheaval.
  • Kenon's shipping exposure benefitted from high shipping rates.
  • The stock has fallen sharply, but its valuation remains uncertain and the technical chart appears bearish.
Side view of dry bulk carriers cargo ship in the sea

Miro Nenchev

Global supply chains are easing, and the world container index is falling. After a sudden pandemic spike, the cost to move goods on the high seas is in sharp retreat and does not exhibit signs of reversing. One small Utilities sector company has exposure

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