This year marks the 10th anniversary of China’s Belt and Road Initiative — a platform for global cooperation, in which Beijing is actively creating and developing sea and land routes to Asia, Africa and Europe. The starting point of this grandiose project was the city of Xi’an, from which the ancient Silk Road originated.

The July 2024 Ocean Freight Market Update highlights the current trends and developments affecting global shipping, with a specific focus on demand, capacity, rates, and regulatory impacts