Officials in Egypt have seized the Ever Given as authorities in the country demand the ship s owners pay nearly $1 billion for blocking the Suez Canal for
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2 experts explain why the company whose ship blocked the Suez Canal has seen its stock surge 28% since the incident started
2 experts explain why the company whose ship blocked the Suez Canal has seen its stock surge 28% since the incident started
Emily GraffeoApr 13, 2021, 22:00 IST
Suez Canal Authority
Ever Given ship got stuck in the
Suez Canal.
We spoke with two analysts who said its not unusual for freight tanker stocks to see bouts of volatility.
Freight tanker stocks are heavily tied to shipping rates, which have skyrocketed this year.
However, the canal blockage exacerbated supply and demand conditions and pushed rates higher.
Ever Given ship faces seizure as Suez Canal operators demand compensation cityam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityam.com Daily Mail and Mail on Sunday newspapers.
Suez Canal authorities seek compensation of Rs 7509 crore from owners of Ever Given to release ship - As per London-based financial firm Refinitiv, Egypt lost transit fee worth USD 95 million (Rs 713 cores ) as a result of the blockage.
What the world economy can learn from Suez Canal incident? - The blocking of the Suez canal and the subsequent 'jam' held up a whopping $400 million an hour in global trade.