On Wednesday, SonicShares™ announced the launch of the SonicShares™ Global Shipping ETF (NYSE Arca: BOAT), which seeks to track the Solactive Global Shipping Index. BOAT provides investors with pure-play exposure to a portfolio of global companies engaged in maritime shipping.
It is difficult to overstate how important shipping is to international trade and the global economy as around 90% 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, dependence on maritime shipping can continue.
“Shipping tends to be an unseen activity for most of us, but about 90 percent of what’s in our homes was shipped here from overseas,” said 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 on the global maritime shipping industry and the anticipated recovery of the global economy that shipping sustains.
SonicShares partnered with Tidal ETF Services to bring BOAT to market. BOAT is the second ETF offering from SonicShares, 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.
For more information on BOAT, please visit www.sonicshares.com/BOAT.Read more on ETFtrends.com.
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