Pre-Trading Thoughts

The IMF will be watching for a shift by Egypt to a flexible exchange rate after a requirement to finance imports through letters of credit is phased out at the end of this month. The Suez Canal Authority expects revenues to rise 15% to hit a record USD8 billion in FY2022-2023. The SCA will continue granting dry bulk ships moving between West Africa and East Asian ports a 75% rebate on transit fees until 30 June 2023. The Emirati National Marine Dredging Company (NMDC) has won a contract w...