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LONDON (Bloomberg): Now removed from the Suez Canal’s main channel, the Ever Given leaves in its wake several weeks or months of disruptions across a world economy where the pandemic revealed both the sturdy backbone of global trade and an Achilles’ heel.
PETALING JAYA: Reverting the East Coast Rail Link (ECRL) to its original alignment was not done to serve any political motive, says the Transport Ministry.
KUALA LUMPUR: PDZ Holdings Bhd’s net loss widened to RM6.5mil in the fourth quarter ended Dec 31, 2020 against RM2.82mil in the same period a year ago.
KUALA LUMPUR: The Suez Canal blockage will have minimal impacts on glove makers earnings and the consumer sector for the financial year ending 2021 (FY21).
CAIRO (Bloomberg): The giant container ship blocking the Suez Canal has been at least partially refloated, the first step toward getting one of the world’s most important trade arteries moving again.
BEIJING (Global Times): As a tariff jam in the Suez Canal caused by a massive containership continues, many Chinese firms are scrambling for ways out of the predicament, with some re-routing their ships and others opting for the China-Europe train services, maritime industry practitioners and experts told the Global Times.
SHANGHAI: The yuan-denominated crude oil futures contracts, which were launched exactly three years ago, are celebrated as China’s first products of their kind to be open to overseas investors, thanks to their strong market resilience, ability to adapt to and thrive in reforms, pricing independence, and demonstrable record in nurturing companies in the sector, experts said.
CAIRO (Reuters): Dredging and tugging aimed at freeing a mega vessel stuck in the Suez Canal failed on Friday (March 26) to end a blockage that has lifted shipping rates for fuel tankers and scrambled global supply chains for everything from grains to baby clothes.
Insufficient supply of soybean meal helping CPO prices
SINGAPORE (Reuters) - A stuck container vessel in the Suez Canal, which has blocked the flow of goods through the narrow channel, will add strain to global supply chains already stretched by rebounding economic activity and tight shipping container supplies, analysts said on Friday.