Page 5 - Global Trade

A ship stuck in Suez

On Tuesday morning, the container ship Ever Given ran aground while navigating the Suez Canal. It swung sideways, blocking almost the entire channel. It hasn't been refloated yet

Maritime traffic jam grows outside blocked Suez Canal

A maritime traffic jam grew to more than 200 vessels Friday outside the Suez Canal and some vessels began changing course

Suez Canal steps up efforts to remove blockage, shipping rates surge

CAIRO (Reuters) - The Suez Canal stepped up efforts on Friday to free a stuck mega vessel, after an earlier attempt failed to end a blockage that has lifted shipping rates for fuel tankers and disrupted global supply chains for everything from grains to baby clothes.

The Suez Canal: A vital oil transit route with an ancient history

The Suez Canal, blocked by a giant container ship that ran aground on Tuesday, is the quickest sea route between Asia and Europe and about 15% of global shipping traffic moves through it.

Oil prices recover some ground on fears Suez blockage may last weeks

Oil reversed a sharp sell-off a day earlier to rise 1% on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude

Suez blockage sets shipping rates racing, oil and gas tankers diverted away

Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers have nearly doubled this week, and several vessels were diverted away from the vital waterway

Suez Canal could be blocked for weeks by stuck 'beached whale' ship

A container ship blocking the Suez Canal like a "beached whale" may take weeks to free, the salvage company said, as officials stopped all ships entering the channel in a new setback for global trade

Stuck cargo ship in Egypt's Suez Canal imperils shipping worldwide

A skyscraper-sized cargo ship wedged across Egypt's Suez Canal further imperiled global shipping as at least 150 other vessels needing to pass through idled waiting for the obstruction to clear

Suez Canal snarled with giant ship stuck sideways in top trade artery

At 400 meters in length, the vessel that was built in Japan about three years ago is longer than the Eiffel Tower laid on its side

US stimulus effect to be felt beyond its shores

The package takes pandemic-related spending in the US to over $6 trillion since the start of the crisis.

Biz leaders see trade recovering from Covid faster than 2008 crisis: Study

Firms reallocating a third of their revenue from the first half of 2020 to re-modelling their supply chains

Global cargo logjam deepens, delaying goods bound for retailers, automakers

A surge in demand for furniture, exercise equipment and other goods for shoppers sheltering at home in a worsening pandemic has upended normal trade flows

India's exports fell 9% in Nov, in second straight month of decline

Outbound shipments in November this year stood at $23.43 billion, against $25.77 billion in the same month a year earlier

Global trade shows signs of rebound from Covid-19, recovery uncertain: WTO

Trade growth in Covid-19 related products was strong in June and July, showing the global economy's ability to help governments obtain supplies

World commercial services trade shows resilience despite momentum loss: WTO

4.3 per cent dip in services trade in first quarter of 2020 was not as much as earlier anticipated

IMF says Covid-19 economic crisis 'far from over', more support needed

The IMF has provided emergency funding to 75 countries, including 47 low-income countries, and said it was ready to provide further support to a wider range of middle-income countries

Global services trade affected by Covid-induced travel curbs: WTO report

With the limited exception of individuals working in "essential" sectors, all such trade that relies on the cross-border movement of individuals has effectively come to a halt

The market as weapon: What China has long exploited India has rarely used

Opening up India's market to neighbouring countries can be as strategic as access denial to others. The game should be played both ways, even if it upsets domestic business lobbies, writes T N Ninan

Industry wants open and facilitative import environment to boost exports

The CII asks for policies to increase the country's share in the global merchandise trade by 2025 to 5 per cent from 1.7 per cent and in services export to 7 per cent from 3.5 per ent.

Race for WTO chief heats up: India spells out terms for its support

The country will back candidates in favour of having a global trade facilitation pact for services, ensuring food security in poorer nations, and committing to talks on developmental issues