The Belt and Road Initiative wasn’t a sinister plot. It was a blueprint for what every nation needs in an age of uncertainty and disruption
The Belt and Road Initiative wasn’t a sinister plot. It was a blueprint for what every nation needs in an age of uncertainty and disruption
Container shipping rates for key global trade routes have soared this week, with U.S. and UK air strikes on Yemen stirring fears of a prolonged disruption to global trade in Red Sea, one of the world’s busiest routes.
Many shipping companies have pulled their vessels from the Suez Canal route as Houthi rebels in Yemen continue to fire at cargo ships. Some exporters are now using the overland rail route between China and Europe, with enquiries doubling since the Red Sea attacks began.
Besides continued low rates, other factors set to influence 2024 are interest rates, environmental regulations and geopolitical uncertainty.
The shipping industry in 2023 is characterized by cautious consumer spending and sluggish container demand growth, coupled with the looming risks of oversupply
Shipping continues to navigate COVID-19 post-pandemic trends, the legacies of the 2021–2022 crunch in global supply chains, a softening in the container shipping market and shifts in shipping and trading patterns arising from the conflict in Ukraine.