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Global Trade & Economics: Page 163

China Produces Over Half the World’s Deadweight Tonnage

China’s shipbuilding output increased by 12% year-on-year to 38 million dwt during the period running from January 2023 to November, making up50.1% of the planet’s total output.

An LNG carrier vessel. Photo: iStock / nikkytok

Railroads Urge Border Officials to Reopen U.S.-Mexico Crossings

“While the company understands this is a complex humanitarian crisis, most migrants are not crossing the border on trains,” Union Pacific said in a statement.

Bridges Crossing the Rio Grande in Eagle Pass, Texas. Photo: iStock.com/halbergman

U.S. Announces New Task Force to Counter Houthi Red Sea Threat

The attacks in the Red Sea, which handles about 12% of world trade as a key waterway for goods and energy, have emerged as a fresh threat to global supply chains.

Image: iStock.com/PeterHermesFurian

U.S. Steel Agrees to Be Bought by Japanese Rival After Long Takeover Saga

The acquisition is a further consolidation of the industry in the United States, which is now dominated by three major companies: Cleveland-Cliffs, Nucor and Steel Dynamics.

Photo: iStock.com/JerryB7

BP Suspends Oil and Gas Shipment through Red Sea

BP is the first oil company to directly halt its own shipping, after five major ocean carriers halted service through The Bab al-Mandab strait.

Gas prices are likely to rise because of disruption to shipping in the Arabian Gulf. Photo: iStock.com/jetcityimage

Shanshan Considers €1.3B Battery Materials Factory in Finland

Shanghai Shanshan Lithium Battery Material Technology Co. Ltd has reserved a plot to construct a plant in the GigaVaasa industrial zone on the western coast of Finland.

Photo: Bloomberg

More Major Ocean Carriers Cease Red Sea Routes After Attacks

About 17,000 ships and 10% of global trade pass every year through The Bab al-Mandab strait, also known as the Gate of Tears, which is only 20 miles (32km) wide.

Stade, Germany. Photo: iStock.com/eyewave

Maersk Stops All Red Sea Container Ship Traffic

Maersk said December 14 that its vessel, Maersk Gibraltar, was targeted by a missile when traveling from Salalah, Oman to Jeddah, Saudi Arabia.

Photo: iStock / Marina113

Two Cargo Ships Attacked by Houthis in Red Sea

Both December 15 attacks, one missile-based and the other drone-based, came from a part of Yemen controlled by the Houthi rebel movement.

Photo: iStock.com/SHansche

France Rejigs Rules for EV Aid, Leaving Out Most China-Made Cars

From December 15, France is offering a variable rebate based on household income on cars costing less than €47,000.

Thurrock, U.K. Photo: Chris Ratcliffe/Bloomberg

Global Manufacturing Slump Could Continue into 2024

The current level of spare capacity indicates that the end of a global manufacturing recession “is still some way off,” said GEP’s vice president of consulting, Todd Bremer.

Munich, Germany. Photo: iStock.com/Wirestock

Star Bulk and Eagle Bulk Shipping Agree to $2.1B Merger

Star Bulk Carriers' shareholders will own 71% of the company while the remaining 29% will be owned by Eagle Bulk shareholders.

Photo: iStock.com/liorpt

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