Canadian ships stuck in Persian Gulf as blockade of Strait of Hormuz continues
BNN Bloomberg
Two Canadian cargo ships are stuck in the Persian Gulf and unable to pass through the blocked Strait of Hormuz as the war in Iran continues.
The two ships, owned by Quebec-based Desgagnés, were hauling general cargo to ports in Iraq, Saudi Arabia and the United Arab Emirates.
Nunatsiaq News was the first to report on the ships being stuck and the company tells The Canadian Press the ships have been there since before the start of the conflict.
The current war began when Iran was attacked by the U.S. and Israel on Feb. 28 and Iranian strikes and reports of mines have limited traffic through the Strait of Hormuz since early March.
While nearly 20 ships have been attacked in the area, The Associated Press reports Iran has let nearly 90 ships pass through, most of them Iranian.
The two Desgagnés ships are flying the flag of Barbados because its 30 crewmen are all foreign nationals, and the company says there are no Canadians aboard and it will not risk passing through the strait until it is safe to do so.
Shares advanced Wednesday in Europe and Asia as oil prices fell back slightly despite a barrage of attacks by Iran on its Gulf neighbours.
Every year, billions of dollars in tax credits and benefits go unclaimed in Canada. Here are five commonly missed tax
Oil prices resumed their rise on Tuesday because of the war with Iran, but U.S. stocks held steadier this time around.
Oil prices above $100 add pressure on inflation and growth, complicating rate decisions for central banks.
Closing arguments are set to kick off Tuesday in a trial pitting Elon Musk against Twitter shareholders who say the world’s richest man engaged in a pattern of deceptive behavior that misled investors as he attempted to back out of his US$44-billion deal to buy the social media platform in 2022.
Markets in Canada and the U.S. were up in late-morning trading on Tuesday despite the ongoing war in Iran.
St. Patrick’s Day will test restaurant bar sales as Canadians drink less, with declining consumption and shifting habits weighing on industry revenues.
New York Stock Exchange-parent Intercontinental Exchange said on Tuesday it has launched a product to bring greater transparency to the private credit market, an asset class beleaguered by heightened investor concerns.
Oil tankers are crossing the Strait of Hormuz and Iran’s actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration’s position that the war should be over in weeks, not months.
Canada’s annual inflation rate slowed in February to 1.8 per cent, but many economists believe the new Statistics Canada data may be the dip before a spike driven by oil prices and the war in Iran.
Building or rebalancing your portfolio and wondering what investments to consider next? Here’s what leading experts featured on BNN Bloomberg say investors should consider adding and dropping from their portfolios today.
Canadian and U.S. stock markets gained ground on Wednesday as oil prices fell and tech stocks rose on both sides of the border.
Nvidia CEO CEO Jensen Huang has started his keynote at the chipmaker’s annual developer conference in San Jose, Calif., where he is set to detail its hardware and software plans.