Investors panicking the Egyptian chaos could paralyze the Suez Canal sent oil to 2008 highs Monday. Right now the canal remains open but for how long? Worries over the security of the canal are mounting as the unrest continues.
About 10 percent of the 35,000 plus ships that crossed the Suez in 2009, were oil tankers. With so much uncertainty, what are CEOs in the shipping industry bracing for and how should investors navigate through the rough waters? I sat down with Matt McCleery, President of Marine Money International which provides maritime finance transactional information and maritime company analysis.
McCleery is also managing director of Blue Sea Capital Corp, the financial advisory and consulting arm of Marine Money International and is a non-Executive director of the product tanker and dry cargo companies Omega Navigation and FreeSeas .