The trade volume is being diverted from Suez to route around South Africa’s Cape of Good Hope, the International Monetary Fund reports
The Suez and Panama Canals have seen drops in trade of 50% and 32% respectively during January and February, compared with the same months in 2023, the International Monetary Fund (IMF) is reporting.
According to the fund’s information, transit trade fell in the first two months of 2024 due to Houthi attacks in the Red Sea and to drought affecting the Panama Canal.
Meanwhile, trade volume via the Cape of Good Hope, the most South-Western point of the African continent, went up by 74% in that same period.
Attacks on vessels in the Red Sea region decreased traffic via the Suez Canal, a vital route between Asia and Europe that ordinarily handles about 15% of global maritime trade. Consequently, numerous shipping firms rerouted vessels around the Cape of Good Hope, lengthening average delivery times by over ten days. ....more below
US President Donald Trump confirmed on Wednesday the upcoming start of ground strikes against drug cartel targets in Latin America.
He made the remarks during Christmas greetings to the military.
Trump said the United States was "now going after the land" in its fight against drug cartel targets, noting that drug trafficking by sea was down 96 percent.
The U.S. president also extended special congratulations to the crew of the aircraft carrier USS Gerald R. Ford, currently deployed in the Caribbean.
BEIJING (Sputnik) - China has begun operating the world's first intelligent ultra-large oil tanker powered by methanol, the China Central Television (CCTV) reported on Monday.
The tanker, designed to transport crude oil, was successfully put into operation in the city of Dalian in China's northeastern coastal province of Liaoning, the report said. State-owned company Dalian Shipbuilding Industry Co Ltd independently designed and built the vessel, it added.
The tanker is approximately 333 meters (1,092 feet) long and can carry around 2.1 million barrels of crude oil, the CCTV reported. Designed to produce low emissions and having intelligent control capabilities, the tanker will serve the route to the Middle East, among others, according to the report.
The vessel is powered by a dual-fuel methanol engine, which reduces carbon dioxide emissions by 92% compared to conventional fuel, the CCTV reported. It is equipped with an intelligent ship platform, an intelligent liquid cargo ...
A car bomb has killed a senior General Staff member, officials have confirmed
Source: The Investigative Committee
A Russian general has been killed in a car bomb blast in Moscow, the Investigative Committee has reported.
Officials identified the victim as Lt. Gen. Fanil Sarvarov, head of operational training at the General Staff. According to the statement, an explosive device had been planted beneath the vehicle he was traveling in, and detonated on Monday morning in the southern part of the Russian capital.
The blast also damaged several other vehicles and seriously injured Sarvarov’s driver, media reports stated.
Russian officials said one line of investigation is an assassination carried out by Ukrainian intelligence services, noting that Kiev has previously used explosive devices in targeted killings of officials and public figures.
Last December, a bomb hidden in an e-scooter killed Lt. Gen. Igor Kirillov, commander of Russia’s Nuclear, Chemical, and Biological Defense ...
