Shipping investments will surely stay afloat despite Red Sea drama
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Narrated by Ian Cowie
Drama in the Red Sea, with the American navy sinking Houthi pirates south of Suez, might remind investors that most of the world’s trade is still transported by ship. Planes and electric vehicles may get more media coverage but 90 per cent of internationally traded goods travel by sea, according to the Organisation for Economic Co-operation and Development (OECD).
That’s why this small investor, who seeks businesses whose goods and services are likely to remain in demand whatever happens next, bought shares in Tufton Oceanic Assets (stock market ticker: SHIP), which has a fleet of more than 20 ships, for $1.21 each in August 2021. Sad to say, shares in this investment trust remain underwater at 99 cents (77p) this week.
Undeterred by such an
