October 11, 2023

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WTO lowers 2023 trade growth forecast

The World Trade Organization released its latest forecast on October 5, stating that the world economy has been hit by multiple impacts, and global trade has continued to slump starting in the fourth quarter of 2022. The World Trade Organization has lowered its forecast for global trade in goods growth in 2023 to 0.8%, less

September 12, 2023

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What kind of project is the “railway and shipping infrastructure project” between the United States and Europe, India, Saudi Arabia, and the United Arab Emirates?

At the G20 Summit held in New Delhi, the European Union, the United States, India, Saudi Arabia, and the United Arab Emirates announced an infrastructure construction project related to transportation. What kind of project is this? Germany’s “Daily News” reported that the above five parties have signed a memorandum of intent for cooperation on railway

August 24, 2023

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Non trade grew by 7.4% year-on-year in the first seven months of this year

Beijing, August 23 (Xinhua) (Reporter Li Xiaoyu) The latest data released by the General Administration of Customs of China on August 23 shows that the non trade scale in the first seven months of this year was 1.14 trillion yuan (RMB, the same below), a year-on-year increase of 7.4%, far exceeding the overall growth rate

August 17, 2023

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The Russian central bank raised its benchmark interest rate to 12%

On August 15th, the Russian Central Bank held a non routine meeting and decided to raise the benchmark interest rate from 8.5% by 350 basis points to 12% starting from that day. The Russian central bank pointed out that inflationary pressure in Russia is intensifying, aiming to control the risk of price fluctuations and maintain

August 1, 2023

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In the container shipping market, about 2.4 million TEUs will be delivered in the next three quarters

According to the latest information from One Shipping: Recently, leading research and forecasting consulting firm Maritime Strategies International (MSI) said that in the next three quarters, the supply side is expected to experience “explosive growth”, and by the end of the first quarter of next year, about 240 million Teu of newbuilding tonnage. MSI said

July 7, 2023

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COSCO Shipping and Yihai Jiali Sign a Strategic Cooperation Agreement

On July 4th, Yihai Jiali Golden Dragon Fish Grain and Oil Food Co., Ltd. signed a strategic cooperation agreement with China Ocean Shipping Group Co., Ltd. Yihai Jiali and COSCO Shipping both have important strength and influence in their respective fields, and their industrial chains are closely connected. Their cooperation in multiple fields has a

June 16, 2023

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Japan has had a trade deficit for 22 consecutive months

Tokyo, June 15th (Xinhua) – According to preliminary statistics released by the Japanese Ministry of Finance on the 15th, Japan’s trade deficit in May was approximately 1.37 trillion yen (approximately 135 yen per US dollar), a year-on-year decrease of 42%. This is Japan’s 22nd consecutive month of trade deficit. The report shows that the import

June 5, 2023

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BIMCO: Container shipping volume will increase by 1.5% in 2023, reaching 185 million TEUs in 2024

-Demand side- BIMCO predicts that under the base scenario, global container shipping volume will increase by 0.5% to 1.5% in 2023 and 5.5% to 6.5% in 2024. Based on this, by 2024, the container sea freight volume will reach approximately 185 million TEUs. The traffic volume in the first half of 2023 will show negative

May 26, 2023

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The Panama Canal is facing a drought crisis, allowing for a reduction in cargo capacity! More capacity occupied!

The Panama Canal is one of the three busiest canals in the world, with over 12000 ships passing through it every year to transport goods to more than 160 countries. Its shipping hub is second only to the Suez Canal. But currently, this important world shipping hub is facing the most severe drought crisis in

May 12, 2023

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CMA acquires Bollore logistics department for $5.5 billion

Recently, both companies stated that the French shipping group CMA CGM has promised to acquire the logistics business of family owned company Bollore for a value of 5 billion euros (5.5 billion US dollars). CMA CGM granted Bollore the option to sell its logistics business, which generated more than 7 billion euros in revenue last