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Maersk Suspends Egypt Activities

Tyler Durden's picture




 

And so it starts, as the first of the shipping giants decides evacuation is the better part of valor. Reuters reports that shipping conglomerate Maersk has suspended shipping activities in Egypt. But fear not. The Suez Canal is open. For now. From Reuters: "Danish shipping and oil group A.P. Moller-Maersk has suspended its Egyptian port terminal operations and closed its shipping offices in the country rocked by turmoil, the company said on Monday." Surely this is bullish for stocks.

Per Reuters:

A.P. Moller-Maersk, whose Maersk Line is the world's biggest container shipping company, said the unrest in Egypt had affected its commercial and operational activities but all its employees in the country are accounted for.

"Today, there are no terminal operations in Egypt and Maersk Line, Safmarine and Damco offices are closed," A.P. Moller-Maersk said in a statement.

h/t Papaswamp

 

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Mon, 01/31/2011 - 09:14 | 919787 Drag Racer
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chickens

Mon, 01/31/2011 - 09:15 | 919788 John McCloy
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Perhaps they are beginning to consider that hungry, jobless and angered people may soon come to the conclusion that there is some valuable items passing through on those ships. Better safe than sorry..Better to take your chances with the Somalis.

Mon, 01/31/2011 - 09:44 | 919878 unwashedmass
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of course this is bullish for stocks! what are you thinking? hell, in Bennie Boy's world, a nuke on a major city would be cause for a major 1000pt rally >>> a lot less people to control and feed, right?

party on dude.

Mon, 01/31/2011 - 11:03 | 920149 financeguru500
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+1000  lol. It was hard not to laugh reading that.

Mon, 01/31/2011 - 11:49 | 920371 ConfusedIdiot
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The map makes me think the Suez route is the Pirate route.

CI

Mon, 01/31/2011 - 09:19 | 919804 Oh regional Indian
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That is definitely not bullish for an early or peaceful close to the current goings on in Egypt. Rats leave sinking ships etc.

But somehow, the irony of the flame being lit in Egypt of all places (Tunisia was just a pilot flame) is maybe lost on many. It there is a progenitor civilization for our current dystopia, many fingers would point to Egypt. 

ORI

More stroms a-coming...

http://aadivaahan.wordpress.com/2011/01/14/quiet-days-watery-days/

Mon, 01/31/2011 - 09:20 | 919807 cossack55
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But the Dutch have such a sterling record in their many centuries of African interface.  They were wizards at evacuating Africans to the colonies just a short 300 years ago.

Mon, 01/31/2011 - 09:25 | 919821 snowball777
Mon, 01/31/2011 - 09:22 | 919813 EscapeKey
EscapeKey's picture

Everything is bullish for stocks at present time - in nominal terms.

Seriously, this continuous bull run - which amusingly is carried on in the futures this morning, most likely the result of Exxon's earnings, itself a result of rising prices - can be explained as an increasing expectation of an inflation tsunami.

Mon, 01/31/2011 - 09:29 | 919836 LeBalance
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I would explain it as a 100% Fed prop job.

Mon, 01/31/2011 - 09:35 | 919849 EscapeKey
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Those two are not necessarily unconnected.

Mon, 01/31/2011 - 09:40 | 919862 cnbcsucks
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Or, as we all know by now, it's Monday and stocks are required to go up on Monday, like they do most Mondays.  Additionally, tomorrow is the 1st of the month and accordingly, stocks will be up tomorrow as well.  To continue, any bad unemployment number on Friday is "already priced in", so therefore, just buy.

 

Mon, 01/31/2011 - 09:35 | 919848 snowball777
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So the response to expecting inflation is to pile into equities which lose nominal value due to inflation (or worse, if Exxon's success implies margin compression)?!

Where's the break-even point between FRNs and heating oil for those at higher latitudes?

Mon, 01/31/2011 - 09:24 | 919818 Alcoholic Nativ...
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Looks like we got a Greater Palestine on our hands. Amazing how if a country's veil is taken off out from under it you see a Military puppet dictatorship of the U.S.

Is this the same case in Afghanistan, Iraq, pakistan, ect.

these are not even countries. They are imperial outpost.

Mon, 01/31/2011 - 09:34 | 919847 LeBalance
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Twenty days of no food and new regional Guvernatur Ahnold will arrive to let the masses lick his boots.

He will arrive with food.  Good food. Nicely irradiated GMO fluoridated food.

Get you some.

A show soon to be repeated in Dayton, OH and the third world town you live in as well.

"Yes, Lord Vader"

"Yes, Mistress Clinton."

"Sieg Heil!"

I wonder what the emblem on the flag of conquest will be this time?

Mon, 01/31/2011 - 09:38 | 919859 Alcoholic Nativ...
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Probably a Giant Dollar sign.

Mon, 01/31/2011 - 09:42 | 919869 Bob
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Freedom Dollars.

Mon, 01/31/2011 - 09:27 | 919827 FunkyMonkeyBoy
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Can the Baltic Dry Index go into negative figures?

Sure looks like it wants to give it a try.

Mon, 01/31/2011 - 09:30 | 919839 Sudden Debt
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It looks like we'll soon find out :)

Mon, 01/31/2011 - 09:47 | 919891 c-rev with a twist
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One must really wonder how long the BDI divergence with the S&P can last.

Mon, 01/31/2011 - 12:02 | 920433 snowball777
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Worry not, Bennie and the Inkjets can buy boats too...mobile floating printshop FTW.

Mon, 01/31/2011 - 15:10 | 921225 MyKillK
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The short answer: Forever

 

Paper and physical have permanently decoupled

Mon, 01/31/2011 - 09:29 | 919834 sudzee
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Banks closed, ATM's empty, food shortages, Isreal backing Mubarak, probably US order for Maersk to close facilities. EE doing its best to starve the peeople into submission.

Mon, 01/31/2011 - 09:40 | 919860 Alcoholic Nativ...
Alcoholic Native American's picture

Exactly, a Corporate shake down! The Prisoners err I mean the Egyptian people are rioting!

Mon, 01/31/2011 - 09:30 | 919837 WineSorbet
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The BDI can now skyrocket with a smaller denominator  ;-)

Mon, 01/31/2011 - 09:34 | 919845 alter ego
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Things are not as clear as it may seems.

I believe Egypt revolution was orchestrated

by US, however it looks that things are

getting out of hands from their first objective.

De-throned Mubarak seemed as a easy

straightforward coup, nevertheless this

revolution can't be contained and is going to

spread like plague.

The humanitarian impact is going to be

immense, just look how many refuges are going

to land in Europe, North America, etc.

The problem is that is not going away, even if

there is a political change in the Arab

landscape, the problems of high inflation and

unemployment are going to remain.

I believed a Pandora's Box has been opened

and no one can close it any time soon.

 

Mon, 01/31/2011 - 09:42 | 919871 sushi
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GenoBen could close it in less than 15 minutes.

Mon, 01/31/2011 - 09:53 | 919899 overmedicatedun...
overmedicatedundersexed's picture

if they start shooting the egyptian people in the streets, the table is set for retaliation in the gulf and Israel- things can get outta hand so quick over there..I did not think the banksters where such big gamblers..unless they have all the oil calls in pocket..think of the bonus they will make..oh now it makes sense.

Mon, 01/31/2011 - 10:14 | 919954 Magic Mamaliga
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Whether it's "orchestrated" or not, don't all zerohedge readers know that the inflation in commodities that has sent these people over the edge, is brought on by the wests cheap money policies.

Mon, 01/31/2011 - 13:20 | 920811 darkaeye
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Exactly.  Exported inflation.  All part of the big plan.

Mon, 01/31/2011 - 09:35 | 919851 KnightsofNee
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Starvation and anarchy are now on the march in Egypt. Mubarak is clearly exhibiting "bunker mentality" and scorched earth stance. The division of labor is breaking down rapidly. If this goes on much longer, it will be Mad Max time and the people will begin to turn on each other to survive.

Mon, 01/31/2011 - 10:02 | 919916 Zina
Zina's picture

Please read this interview with Hossam el-Hamalawy, an Egyptian journalist and blogger:

http://www.a-w-i-p.com/index.php/2011/01/28/interview-with-hossam-el-ham...

or

http://www.uruknet.info/index.php/?p=m74364&hd=&size=1&l=e

Very enlightening...


Mon, 01/31/2011 - 10:29 | 920007 gwar5
gwar5's picture

Thanks. Interesting by el-Hamalawy, but Professor Pothead LeVine has always had a marxist bent and is an apologist for Islamic terrorism.

Interesting to know Egypt has had successful labor movement strikes in the last few years. That is about the same time the Muslim Brotherhood took over the main political party in Egypt 4 years ago.

I can sorta see how this is all going to go down in Egypt.

Mon, 01/31/2011 - 10:12 | 919943 gwar5
gwar5's picture

Bad for stocks and bad for food deliveries

Let's see how the food deprivation strategy plays

I bet it gets louder before it gets quiet.

Mon, 01/31/2011 - 10:16 | 919959 snowball777
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Let them eat despots!

Mon, 01/31/2011 - 10:18 | 919966 MiningJunkie
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Just buy the dip and fugetabatit....

Mon, 01/31/2011 - 11:29 | 920263 The Count
The Count's picture

Iran just nuked Israel. BUY BUY BUY. In the topsy turvy world we now live in where bad is good and down is up, any piece of formerly bad news (how 1980-ish) will push the Dow to higher highs.

Mon, 01/31/2011 - 11:59 | 920419 americanspirit
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One or two RPGs at the waterline and one sunken bulk carrier ought to stop traffic in the Suez canal pretty effectively. Then it's board and loot time. Wash, rinse, repeat.

Mon, 01/31/2011 - 14:19 | 921004 SilverRhino
SilverRhino's picture

An RPG on a bulk carrier is going to be about as effective as hitting you in the chest with a BB gun. It's going to sting and that's about it.

The "interesting times" development is when someone hits a VLCC with a Katyusha rocket in the Suez.

Mon, 01/31/2011 - 12:26 | 920562 proLiberty
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This just demonstrates that personal preparedness is an essential part of modern thinking.  Supply disruption in a world of finely tuned supply chain management is a "black swan", and for the average Egyptian who must rely on imports from container ship lines for a high percent of the things they shop for, this is nothing less than a "six sigma" event.

 

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