SonicShares has announced the launch of the SonicShares Global Shipping ETF (NYSE Arca: BOAT), which seeks to track the Solactive Global Shipping Index. The firm writes that BOAT will provide investors with pure play exposure to a portfolio of global companies engaged in maritime shipping.
The firm writes: “It is difficult to overstate how important shipping is to international trade and the global economy as around 90 per cent of the world’s trade is carried by sea. Without shipping, the bulk transport of raw materials and the import/export of food and manufactured goods would simply be impossible.
“The recent Suez Canal blockage and the current supply chain crisis triggered by a shortage of shipping containers highlights the critical role shipping plays in the manufacturing, distribution and retail sectors. With the economy’s continued reliance on world trade, just-in-time manufacturing and inventory management, we believe our dependence on maritime shipping will continue and that can be good news for shipping industry investors.”
“Shipping tends to be an unseen activity for most of us, but about 90 per cent of what’s in our homes was shipped here from overseas,” says Paul Somma, the Founder of SonicShares. “It’s one of the many reasons why shipping is considered both the backbone and bellwether of the global economy. BOAT allows investors to participate in the potential growth in shipping, which also means investing in the global economic recovery.”
BOAT’s portfolio of over 50 global maritime shipping stocks gives investors an investment vehicle that can directly benefit from the expected ongoing demand for global shipping services. In addition to its potential for quarterly income, BOAT allows investors to express a bullish view not only on the global maritime shipping industry, but also on the anticipated recovery of the global economy that shipping sustains.
SonicShares partnered with Tidal ETF Services to bring BOAT to market. BOAT is SonicShares’ second ETF offering, joining the recently launched SonicShares Airlines, Hotels, Cruise Lines ETF (NYSE Arca: TRYP). TRYP, which debuted in May of this year, is designed for investors looking to take advantage of the global reopening and resulting travel recovery.