Nick Savvides on Muck Rack

Nick Savvides

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United Kingdom
As seen in: The Loadstar, TechRadar, Zero Hedge, gCaptain, FreightWaves, The Lowy Institute, Seatrade Maritime News, CSO Australia, Seatrade Cruise News, ENDS Europe, VMblog.com and
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Articles

Evergreen heirs questioned and offices raided over alleged insider trades

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By Nick Savvides Verified
| Seatrade Maritime News Verified
Taiwanese authorities have raided Evergreen Marine Corporation's (EMC) Taiwan offices and executives' homes among 10 locations searched as part of an investigation into insider trading. The raids follow a complaint made in 2024 by an EMC shareholder against nine people — including EMC board member Chang Kuo-hua, his brother Chang Kuo-cheng, and executives in the Evergreen Group — alleging that shares were purchased before public disclosure of a significant material decision at the company.
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El Niño returns to squeeze Panama Canal capacity

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By Nick Savvides Verified
| Seatrade Maritime News Verified
In its latest announcement on the expected effects of El Niño, the Panama Canal Authority (ACP) has announced two draught restrictions over the coming weeks. The last El Niño event, during the second half of 2023 and into 2024, saw a drought in Gatún Lake the freshwater reservoir that operates the canal's lock system.
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Container rates defy capacity rebound on Asia export trades

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By Nick Savvides Verified
| Seatrade Maritime News Verified
After steep decline following the start of the Iran war, capacity on the two major container trades out of Asia to Europe and the US has returned to similar levels seen a year. Xeneta’s four week rolling average capacity index revealed that Asia to US West Coast capacity is at an all-time high of 350,000 teu and, in spite of the increased space availability, rates have continued to rise, reaching $6,639/feu by 3 July, up 14% on the previous week.
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