EBRD launches second phase of Suez Canal digitalisation project

The European Bank for Reconstruction and Development (EBRD) has launched the second phase of its technical support programme to digitalise the Suez Canal Economic Zone (SCZone). The SCZone authority has established a one-stop shop for investors, managed by its Investor Services Department (ISD), as a means of streamlining administrative formalities and fast-tracking the management of…

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THE REASON WHY IT IS DIFFICULT FOR MANY ENTERPRISES TO REGISTER FOR EXPORTING RICE TO CHINA

According to the General Department of Vietnam Customs, in January 2023, Vietnam’s rice exports to the Chinese market reached 47,424 tons, equivalent to more than 28 million USD, down 18% in volume and 6% in value compared to that of Vietnam. January 2022. Previously, in 2022, rice exports to China reached nearly 851,000 tons, equivalent…

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CIMC confirms MSC’s order for 10 LNG-fuelled boxships

China International Marine Containers (CIMC) has revealed more details for 10 LNG dual-fuelled containerships ordered by MSC at China’s Zhoushan Changhong International Shipyard. The ten 11,500 teu containerships, designed by CIMC Ocean Engineering Design and Research Institute (CIMC ORIC), a subsidiary of CIMC which is dedicated to research on ship design and marine equipment, are due for delivery between…

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HMM REPORTS STRONG 2022 DESPITE Q4 PROFIT PLUNGE

Full-year operating profit up 34.8%, but Q4 down 53.4% from 2021 period HMM on Monday reported “strong results for 2022,” including a 34.8% year-over-year gain in operating profit. But to clarify, the South Korean ocean carrier had strong results for part of 2022, as fourth-quarter operating profit plunged 53.4% year over year.  The first three…

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PANAMA CARGO VESSEL CATCHES FIRE OFF VIETNAM’S SOUTHERN COAST

A Panama vessel carrying 4,530 cars from South Korea to Singapore caught fire and has been left drifting in the waters off Vung Tau. Fire engulfed the AH SHIN vessel as it was moving along Vietnam’s south-central coast on Sunday. The boat is currently drifting around 45 kilometers to the southeast of Vung Tau, a…

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