India is Very Proud of Her Merchant Navy Officers / Sailors

 MV Evergiven Crisis in Suez Canal -

Great Job Being Done by Them

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All crew are Indian nationals and remain onboard.

 

The crew are working closely with all parties involved to re-float the vessel. The hard work and tireless professionalism of the Master and crew is greatly appreciated,” said the company.

 

Source ; 

 

https://www.businessinsider.in/india/news/the-entire-crew-of-the-massive-ship-that-has-blocked-suez-canal-is-indian/articleshow/81699456.cms?fbclid=IwAR1NyzatvnpDElg0Kg9ASr8C1sRnDsBA4c3XcKQawlFFVEyqi5-dti8oFjw 

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 Steering ships through the Suez Canal is the duty of Canal Pilots who are Egyptians .

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OLD POST

March 24, 2021

Suez Canal Blocked - Prolonged Stoppage May Send Spot Freight Rates Skywards

 Please click ;-

https://www.youtube.com/watch?v=1gpw8YDnewM

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