Union Pacific] stands to benefit in the near-term from an elongated East/Gulf Coast port strike that has driven intermodal volumes West,” T.D. Cowen analyst Jason Seidl said

Shipping stocks fell as the end of the port workers' strike looks to put paid to the prospect of sustained higher freight rates

Container-shipping stocks fell Friday after U.S. dockworkers agreed to return to work with a beefed-up contract offer, nixing for now the prospects of higher freight rates. Shares of ZIM Integrated Shipping Services fell 12% to $19.

The end of the three-day U.S. port strike has implications for a number of transportation and shipping stocks, say analysts. Late Thursday, the International Longshoremen’s Association and the United States Maritime Alliance said they had reached a tentative agreement on wages and agreed to extend their master contract until Jan.

Shipping stocks fell as the U.S. dockworker agreement seems to make the prospect of sustained higher freight rates unlikely.

KEY TAKEAWAYS Shares of global shipping companies tumbled Friday, as the suspension of the U.S. dockworkers' strike reduces the possibility that snarled supply chains would lead to more global trade rerouting and boost their business.