Wednesday 24 March 2021

Suez Canal Blocked. German Shutdown. An Awkward Fire.

Baltic Dry Index. 2271 -48 Brent Crude 60.79

Spot Gold 1732

Coronavirus Cases 02/04/20 World 1,000,000

Deaths 53,100 

Coronavirus Cases 24/03/21 World 124,806,952

Deaths 2,746,311

24 March, 1603 King James VI of Scotland became James I of England.

On 24 March 1603 James achieved his lifelong ambition when Queen Elizabeth I died and he inherited the throne of England. He moved south immediately and would have liked his two kingdoms to be completely united. However, Scotland retained its own parliament, established Church and legal and educational systems.

https://www.royal.uk/james-vi-and-i-r-1567-1625

The big news this morning is the blockage of the Suez Canal. It’s not too much of a problem right now, more of an oddity, but if the blockage persists for any length of time it will fast become a major supply chain problem. “About 12% of the world trade volume passes through the man-made canal.”

Container ship runs aground in Suez Canal causing traffic jam

March 24, 2021

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