International

Lin-gang Special Area is predicted to see its GDP grow four-fold by 2025, according to the 14th five-year plan that was released in August. The plan called for shipping, financial and IT services to be set up in Lin-gang, and again by 2025, the target is for at least 50 multinational corporations to have regional headquarters in the special area.

Thai-based intra-Asia carrier Regional Container Lines (RCL) has posted a record $113m net profit for the third quarter – but, like for all carriers, its operating costs are soaring.

The country’s exports grew by 27.1 per cent in the month compared with a year earlier, down from 28.1 per cent growth in September. Economic indicators likely to drift lower in the last quarter of the year, analysts say

Biden administration plans twice-monthly updates on key metrics at least through December

As a result, Drewry noted, shippers of lower-value cargo, such as bananas, onions, citrus or frozen vegetables, are now confronted with much higher shipping costs after enjoying years of relatively low freight rates, which helped them develop markets far afield.