Egypt claims Houthi attacks have cost its economy $6bn in lost Suez revenue
Egypt has suffered a $6bn hit from the Red Sea crisis and drop in Suez ...
FWRD: SPECULATIVE RALLY MAERSK: INTEGRATED LOGISTICS WIN MAERSK: TRUMP TRADEKNIN: THE SLIDELINE: DEBUT AAPL: ASIA CAPEXDHL: THE HANGOVERXPO: ELECTION DAY RALLY BA: STRIKE OVER GXO: SHEIN AND TEMU IMPACT GXO: PAYING DOWN DEBT AND ORGANIC GROWTH GXO: WINCANTON REGULATORY RISK GXO: PEAK SEASON GXO: WINCANTON STILL A DRAG GXO: FREE CASH FLOW CONVERSION GXO: RETAIL VS INDUSTRIAL TRENDSGXO: WINCANTON UPDATEGXO: CORNERSTONE DEAL SIGNED IN EUROPE
FWRD: SPECULATIVE RALLY MAERSK: INTEGRATED LOGISTICS WIN MAERSK: TRUMP TRADEKNIN: THE SLIDELINE: DEBUT AAPL: ASIA CAPEXDHL: THE HANGOVERXPO: ELECTION DAY RALLY BA: STRIKE OVER GXO: SHEIN AND TEMU IMPACT GXO: PAYING DOWN DEBT AND ORGANIC GROWTH GXO: WINCANTON REGULATORY RISK GXO: PEAK SEASON GXO: WINCANTON STILL A DRAG GXO: FREE CASH FLOW CONVERSION GXO: RETAIL VS INDUSTRIAL TRENDSGXO: WINCANTON UPDATEGXO: CORNERSTONE DEAL SIGNED IN EUROPE
Absolutely brilliant account of the grounding of the Ever Given in the Suez Canal, from Bloomberg Businessweek, featuring a blow-by-blow retelling of the hours and minutes leading up to the casualty, and the subsequent arrest of the vessel and court hearings. Based on interviews with key protagonists and forensic examination of the court transcripts in Ismailia, it heavily implies that much of the blame for the grounding is likely – unofficially at least – to be laid at the feet of the Suez Canal pilots. “Although no footage of the incident has been made public, the final few seconds would have unfolded with the horrible slowness of a collapsing building — a gigantic object surrendering to invisible forces. According to a person familiar with the VDR audio, Captain Kanthavel reacted as anyone might in the same situation: “Shit!” he screamed.”
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