March 24, 2021
Suez Canal Blocked - Prolonged Stoppage May Send Spot Freight Rates Skywards
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It appears that the Canal would be operational soon.
But if it remains closed for a long time then it would lead to a hefty rise in spot freight rates in all types of ships .
This happened in the past when due to Arab Israel conflicts like in 1967 and 1973 Suez Canal was blocked and spot freight rates shot-up.
This brought windfall profits for investors of shipping companies including investors of Indian Companies like .Great Eastern Shipping Co . Ltd .
Can we hope a similar bonanza again ?Well God is Great .