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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.
By George Bains 06 Apr 2021
Back in January 2020, Superyacht Australia CEO David Good spoke to Superyachts.com about the potential to double the domestic superyacht industry on the back of the new Special Recreational Vessels Bill. Few could have predicted the challenges that would unfold around the globe shortly thereafter, yet just over a year later the vision for a thriving industry Down Under seems to have been realised in even the most difficult of situations.
Australia is experiencing a superyacht boom, with vessels attracted to Australia and its buoyant domestic charter market. Australians normally spend A$65B annually on international travel and with borders closed many superyachts have moved to Australia to offer a luxury alternative to overseas travel.
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The owners of the Ever Given are suing its operators after the massive ship spent 6 days lodged in the Suez Canal
The owners of the Ever Given are suing its operators after the massive ship spent 6 days lodged in the Suez Canal
Madison HallApr 2, 2021, 04:28 IST
Ever Given, a Panama-flagged cargo ship, that is wedged across the Suez Canal and blocking traffic in the vital waterway is seen Saturday, March 27, 2021.Photo by Samuel Mohsen/picture alliance via Getty Images
The
Ever Given s owners are suing the operator of the ship, the Evergreen Marine Corp.
The suit was filed in London s High Court and references the ship getting stuck in the
By George Bains 31 Mar 2021
The final day of the NZ Millennium Cup action has drawn to a close with celebrations marked by dolphins and booming cannons.
The final day of the NZ Millennium Cup action has drawn to a close with celebrations marked by dolphins and booming cannons.
Though the final day lacked the breeze that had helped the action on previous days, the race committee worked to plan a race around the conditions. The decision to move the fleet to Motuarohia Island not only made the most of the beautiful weather, but also provided an opportunity to swim with dolphins.