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

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

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

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

-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

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

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

The throughput of Los Angeles Port in February was 487846 TEUs, a year-on-year decrease of 43%, making it the worst February since 2009. Gene Seroka, Executive Director of the Port of Los Angeles, said: “The overall slowdown in global trade, the extension of the Asian Lunar New Year holiday, warehouse backlog, and the transfer of

NYK, one of the three major shareholders of ONE, recently announced the latest medium-term development strategy from 2023 to 2026, aiming to further develop its consolidation and logistics business.   The new strategy shows that the Group plans to support and give priority to the sustained growth of ONE, especially in developing countries with huge

China News Agency, Beijing, February 22 (Reporter Li Xiaoyu) The latest data released by the China Council for the Promotion of International Trade on the 22nd showed that the global economic and trade friction index reached 222 in December 2022, up 75 points from November that year and 145 points from the same period in