Trends - Suez Canal - Business Recorder

Suez Canal

Ongoing Suez Canal blockage to add pressure on global supply chains

The Evergreen Marine, a 1300f long Japanese vessel was stranded in the Suez Canal, a major trade route connecting Asia and Europe, on Tuesday, disrupting several ships on the Suez Canal, alongside disrupting international trade.

Published 29 Mar, 2021 11:36am

Markets

Oil slumps as Suez Canal container ship starts to move

That market volatility is set to continue, said Jeffrey Halley, senior market analyst at OANDA.

Published 29 Mar, 2021 11:20am

Markets

Australia shares inch higher as Suez Canal blockage lifts commodities

Treasury Wine Estates slumped 3.8% after the company said it would face steep anti-dumping tariffs for its Australian wine exports to China.

Published 29 Mar, 2021 10:50am

World

Stranded Suez Canal ship re-floated, undergoing checks: sources

The 400-metre (430-yard) long Ever Given has been straightened in the canal and will undergo initial inspections before being moved, two sources said.

Updated 30 Mar, 2021 03:27am

BR Research

Between weak demand and tight supply

Oil is a sensitive commodity; only the fear or anticipation of something moves the needle up or down the prices. The...

Published 29 Mar, 2021 07:40am

Markets

Major Gulf markets gain as Suez Canal jam continues

DUBAI: Major stock markets in the Gulf ended higher on Sunday, as investors shrugged off the Suez Canal jam on hopes...

Published 29 Mar, 2021 06:05am

World

Egypt's canal chief says human error could be behind ship's grounding

SUEZ, (Egypt): Egypt's Suez Canal chief said Saturday that "technical or human errors" could be behind the grounding...

Updated 28 Mar, 2021 05:30pm

World

Syria says rationing fuel as shipments delayed by Suez canal blockage

"As we wait for the normal movement of ships across the Suez Canal, which could be an unknown period of time, and to assure basic services continue for Syrians... the ministry is currently rationing some oil products," an oil ministry statement said.

Published 27 Mar, 2021 05:54pm

Business & Finance

Attempts to refloat ship in Suez Canal to resume shortly

If that attempt is unsuccessful, another effort will be made on Sunday morning, the sources said. To refloat the ship, it could be necessary to remove further sand from around it, they added.

Updated 27 Mar, 2021 05:39pm

Business & Finance

Suez Canal blockage: Stranded Japanese ship likely to be freed soon

The Japanese ship was stranded in the Suez Canal, a major trade route connecting Asia and Europe, on Tuesday, disrupting several ships on the Suez Canal, also disrupting international trade and sending several companies back to Africa.

Updated 27 Mar, 2021 02:16pm

World

Attempt to refloat ship blocking Suez Canal was unsuccessful: ship's technical manager

Initial investigations suggest the vessel was grounded because of strong wind and rule out any mechanical or engine failure as the ship was transiting the canal on Tuesday with two canal pilots on board, BSM said.

Published 27 Mar, 2021 10:05am

Markets

Asia naphtha crack jumps to 2-week high on supply concerns

SINGAPORE: Asia’s naphtha crack climbed to a near two-week high on Friday

Published 27 Mar, 2021 05:41am

Markets

Suez blockage boosts copper prices

LONDON: Copper prices rose on Friday as the market worried about the cost repercussions for transporting industrial...

Published 27 Mar, 2021 05:41am

Markets

Suez ship congestion could delay LNG deliveries to Europe

The giant ship ran aground on Tuesday. The Suez Canal stepped up efforts on Friday to free the ship and end a blockage on the main route for European imports of LNG from the Middle East and for some cargoes heading to Asia from the Mediterranean.
There are now six LNG vessels waiting to enter the canal, with four of them at the southern Red Sea end and two in the Mediterranean, according to data intelligence firm Kpler. A seventh ship is already in the canal, the data showed.

Published 26 Mar, 2021 09:46pm

Markets

Oil jumps 4pc on fears Suez Canal blockage may last weeks

Brent, WTI set for 3rd weekly loss.
Ship blocking Suez may take weeks to free-salvage firm.
Shipping rates rise, oil and gas tankers diverted.
UAE's ADNOC deepens supply cuts to Asia in June –sources.

Published 26 Mar, 2021 09:37pm

Business & Finance

Suez Canal blockage could cost $6bn to $10bn in lost trade

"The problem is that the Suez Canal blockage is the straw that breaks global trade's back," the study's authors wrote.
"First, suppliers' delivery times have lengthened since the start of the year and are now longer in Europe than during the peak of the COVID-19 pandemic."

Published 26 Mar, 2021 07:15pm

Business & Finance

Race to dislodge Suez blockage as shipping rates surge, tankers diverted away

More than 30 oil tankers wait to traverse canal –Refinitiv.
Bigger impact on oil products markets –analysts.
Several LNG tankers diverted –shipbroker.
Ship owner denies aims to free vessel by Saturday night.

Published 26 Mar, 2021 05:48pm

World

Ship stuck in the Suez Canal unleashes flood of Internet jokes

A giant ship has blocked the famous Suez Canal but opened up a torrent of memes and gifs lampooning the hapless container carrier, which has been jammed in the waterway since Tuesday.
Elements of global commerce have been brought to a standstill, but no one was hurt, and the environment is so far undamaged. The lack of stakes surrounding the Ever Given’s grounding has made it a prime target for jokes.

Published 26 Mar, 2021 03:05pm

World

Suspension of Suez Canal traffic deepens global container crunch

In the latest challenge, more than 30 container ships are unable to sail after the 400-metre (430-yard) Ever Given boxship ran aground in the Suez Canal, blocking transit, the sources said.

Published 26 Mar, 2021 02:28pm

Business & Finance

Global container crunch deepens with boxships stranded in Suez Canal

Ever Given boxship ran aground in Suez Canal.
Shipping backed up either end of canal.
Shipping lines were already facing problems.

Published 25 Mar, 2021 07:57pm

World

Suez Canal suspends traffic as bid to refloat grounded ship hits trouble

Satellite pictures released by Planet Labs Inc show the 59-metre wide container ship wedged diagonally across the entire canal.

Published 25 Mar, 2021 05:12pm

Markets

Oil jumps 6pc after Suez Canal ship grounding

NEW YORK: Oil prices jumped about 6% on Wednesday after a ship ran aground in the Suez Canal, and worries that the...

Published 25 Mar, 2021 05:08am

World

Giant ship blocks Suez Canal after veering off course in sandstorm

Historic sections of the canal have been reopened in a bid to ease the bottleneck of backed up marine traffic.

Published 24 Mar, 2021 04:58pm

World

Massive container ship blocks Suez Canal

It has been a boon for Egypt's struggling economy in recent years, with the country earning $5.61 billion in revenues from the canal last year.

Published 24 Mar, 2021 11:17am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	156.17
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 25	5048.42
Nasdaq / Apr 25	15611.76
Dow Jones / Apr 25	38085.80
India Sensex / Apr 26	74171.68
Tokyo Nikkei / Apr 26	37934.72
Hang Seng / Apr 26	17626.75
FTSE 100 / Apr 26	8123.98
Germany DAX 30 / Apr 26	18016.27

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 25	20535
Gold 10 Grams PKR / Apr 25	240900
Petrol/Litre / Apr 26	293.94
Crude Oil USD/Barrel / Apr 26	83.89
Gold Spot USD/Ounce / Apr 26	2336.33
Diesel/Litre / Apr 26	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 26 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 26 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 26 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 26 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 26 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 26 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 26 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 26 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 26 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 26 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 26 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 26 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 26 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 26 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 26 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 26 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 26 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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