Shippers negotiating new contracts this year face a major rates dilemma as the maritime industry contemplates a return to using the Suez Canal.
When carriers revert to transiting the canal, the reduction in voyage tonne-miles will begin to expose the overcapacity in the market, pushing a significant downward trend in freight rates, especially on Asia-Europe trades.
Shipping analyst Drewry estimates rerouting round the Cape of Good Hope reduced effective capacity by around 9%, «which has helped carriers once again post some very strong quarterly profits in the past 12 months».
The development of the International North-South Transport Corridor is a strategically important task for Russia and the countries participating in the venture
On account of strategic position of Central Asian countries between Europe and Asia, the European Union is becoming ever more actively interested in a stable partnership with the countries of Central Asia, and seeks to develop relations not only with Central Asia as a whole, but also with each individual state in the region
