European shipping stocks experience a 5% decline due to the impact of the U.S. port strikes.

• On Friday, the shares of Moller-Maersk declined as European shipping companies experienced a drop in value following the end of a U.S. port strike.
• On Thursday, U.S. dockworkers and the United States Maritime Alliance reached a tentative agreement on wages and extended their existing contract until January 15.
• A longer strike could have benefited European shippers in capturing a larger portion of global supply chain demands.

The U.S. port strike caused European shipping companies, including Moller-Maersk, to decline, resulting in a more than 8% drop in shares on the Friday market open.

On Thursday, a major union for U.S. dockworkers and the United States Maritime Alliance reached a tentative agreement on wages and extended their existing contract through Jan. 15 to allow for negotiations on a new agreement.

A longer strike could have benefited European shippers in capturing a larger portion of global supply chain demands.

By 1:35 p.m. London time, Maersk's losses were reduced slightly, resulting in a trade down of 5.06%.

Both Germany's and Swiss logistics company experienced a decline in their stock prices. Germany's stock price dropped by 13.26%, while Swiss logistics company fell by 1.48%.

During Friday's session, Asian shippers experienced declines, with Japan's Nippon Yusen and Kawasaki Kisen dropping 9.48% and 9.65%, respectively. South Korea's Pan Ocean lost 4.77%, while HMM shed 5.06% and Taiwan's Yang Ming Marine fell 9.08%.

The strike that had been ongoing since Monday on the U.S. East Coast and Gulf Coast ports was resolved on Thursday, ending the blockade that had affected the supply of various goods, including fruits, pharmaceuticals, and automobiles.

During the brief walkout, U.S. supply chains experienced significant disruptions, resulting in billions of dollars in goods being anchored offshore ahead of the busy holiday shopping period.

The backlog of vessels in U.S. ports could be cleared in approximately three to four weeks, according to Hapag-Lloyd's statement on Friday.

TD Securities analysts warned that any disruption lasting over a week would pose significant challenges and be highly disruptive to supply chains, ahead of the conclusion of talks on Thursday.

The International Longshoremen's Association, a labor union, experienced its first strike in almost 50 years, which affected operations at 14 ports and involved approximately 50,000 of its 85,000 members.

— CNBC's Ganesh Rao contributed to this report.