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Cyprus, Suez Canal eye collaboration on green shipping, trade security

Lieutenant General Osama Rabie, head of the Suez Canal Authority, met Cyprus’ Deputy Shipping Minister, Marina Hadjimanolis, in Ismailia on Tuesday to discuss collaboration on sustainable maritime practices and the impact of Red Sea tensions on global trade. Opening the talks, Rabie emphasised the authority’s aim to “enhance bilateral cooperation and exchange of expertise” with …

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SEA.AI’s state of the art anti-collision tech in the Vendée Globe

Based on the nine past editions of the Vendée Globe, on average only 60% of competitors finish. Most retirements are due to technical issues, while some are either forced to pull out or continue badly crippled following collision damage. Fortunately, when this winter’s non-stop singlehanded round the world race departs Les Sables d’Olonne on 10 …

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Dry Bulk Shipping Market: Slower demand growth pressures freight rates

BIMCO publishes Shipping Market Overview & Outlook reports towards the end of each month as follows: January, April, July, October Dry Bulk February, May, August, November Tanker March, June, September, December Container Supply/Demand Balance During 2024, the supply/demand balance has improved and the full year is expected to end stronger than 2023. However, in our …

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European Importers Should Not Be Spooked By Ocean Container Carriers’ Desperate Efforts To Drive Up Freight Rates

Ocean container carriers are desperately trying to push spot freight rates up in early November to halt the market decline and strengthen their hand during negotiations with European shippers for new long-term contracts. Latest data from Xeneta – the leading ocean and air freight rate intelligence platform – shows average spot rates on the major …

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