This Is How A Cargo Ship Stranded In The Suez Canal Could Impact CRE


This Is How A Cargo Ship Stranded In The Suez Canal Could Impact CRE


A cargo ship stranded inside an Egyptian shipping channel could prompt companies to stockpile even more surplus goods in the future, potentially leading to hundreds of millions of square feet of additional absorption within the already booming industrial sector, experts say.

The accidental grounding of the Ever Given cargo ship Tuesday inside Egypt`s Suez Canal, which handles about 10% of global trade, is reportedly costing the global trade market an estimated $400M an hour in lost value because no ships can pass through the canal — 15 were stuck behind the Ever Given as of Thursday morning — and the situation could take weeks to resolve....

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RSK: It may help the warehouse sector in the long run but if I cannot get my cup of coffee for under $10 I might get a bit "hangry"! AT least as of this date, the front of the ship has been cleared but it will take weeks to get all the back logged ships through the canal and on to their respective ports of call.

Ken Notes: I`ll bet you ten bucks you can`t turn this thing around.... hold my beer...

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- - Volume: 9 - WEEK: 14 Date: 12/3/2021 6:11:40 PM -