[Freightos Weekly Update] Major lanes may be approaching a new ocean rate floor
Key insights: 1. With the exception of still-elevated prices for Asia - Mediterranean trade, ocean rates on the major ex-Asia and transatlantic lanes are now…
China rejects US claim that it’s ‘de-risking’ not ‘decoupling’
President Joe Biden and his European allies have repeatedly stressed their desire to “de-risk,” not “decouple,” from the Chinese economy in recent months as a…
Singapore Air, Garuda to deepen ties and grow regional routes
Singapore Airlines Ltd. and PT Garuda Indonesia are seeking to deepen ties with a commercial pact to coordinate on fares and flight schedules, the carriers…
EU balks at calling out China in joint trade strategy with US
The European Union stripped out explicit references to China as a non-market economy in its joint trade strategy with the US.
Qantas says international flying will be twice as lucrative in post-Covid era
Qantas Airways Ltd. said international flying will be at least twice as lucrative in the post-Covid era, thanks to new income from marathon direct flights…
Kenyan president seeks fewer dollar deals in intra-Africa trade
Kenya’s president urged African countries to process payments through a platform developed to handle local currencies across the continent, as emerging nations struggle to get…
Mercuria enters Suez Canal refueling as Egypt opens market
Mercuria Energy Group’s ship-fueling business Minerva Bunkering started deliveries in Egypt, becoming the first international service to enter the market after being awarded a license…
China, Japan commerce ministers trade barbs at meeting in US
The trade ministers of China and Japan exchanged protests over chip export controls and the detention of Japanese citizens at a meeting in Detroit last…
Nigeria’s $10 billion fuel subsidies are ‘gone,’ Tinubu says
Bola Tinubu took over as Nigeria’s president and pledged to scrap a costly fuel subsidy, address widening insecurity and revive Africa’s largest economy.
South Korea to avoid cashing in on China’s US chipmaker ban
South Korea will avoid capitalizing on China’s ban on a US chipmaker, seeing the move by Beijing as an attempt to drive a wedge between…
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