MARKET OVERVIEW – WEEK 44 / 2022 – Since October 31 to November 06 / 2022

2022-12-02

Banana selling prices in St. Petersburg ranged from USD 22.50 to USD 24.10 per box CIF. Around 1.92 million boxes were discharged in week 44, and 2.03 million are expected for week 45. November 4 was Unity Day -also called Day of People's Unity -, a public holiday in the Russian Federation. The exchange rate between the USD and the Ruble was almost the same as the previous week,1 USD=61.62 Ruble.

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Major Shipping Lines Will Pass on Cost of Compliance with E.U.'s New Emission Rules

2022-11-25

The major shipping lines say they will pass on the extra costs of compliance with the forthcoming European Union Emissions Trading System (ETS). Alliance partners Maersk Line and MSC have said they would pass on the total cost to customers, estimating this at €90 per tonne of CO2. "We would envisage adding the cost on our Far East to North Europe trade of €69 ($70.80) per teu for dry containers and €208 ($213.55) per feu for reefer containers. North Europe to Asia, the cost would be €37 per dry teu and €110 per reefer feu," said MSC.

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Maersk and Carbon Sink Sign Strategic Partnership

2022-11-25

As part of the strategy to decarbonize its customers' supply chains, A.P. Moller - Maersk (Maersk) has entered a green* methanol partnership with U.S.-based project developer Carbon Sink LLC. It is Maersk's 8th such agreement in the efforts to accelerate global production of green methanol. The parties have signed a Letter of Intent covering the development by Carbon Sink of green methanol production facilities in the United States.

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Transactions in connection with share buy-back program

2022-11-21

On 5 May 2021, A.P. Møller - Mærsk A/S (the “Company”) announced a share buy-back program of up to DKK 32bn (around USD 5bn) to be executed over a period of two years. On 12 August 2022 the Company announced an increase in the current share buy-back program from DKK 32bn (around USD 5bn) to DKK 39.3bn (around USD 6bn).

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Madeira's Banana Producers Demand Payment of 90 Cents per Kilo

2022-11-18

Madeira's banana producers demanded the payment of 90 cents per kilogram instead of the current 65 and considered the regional government's extraordinary support for the first half of the year insufficient. Speaking to reporters in Funchal, the president of the Association of Banana Producers Organizations (ABAMA) said that, considering expenses and the current cost of living, bananas should be paid by GESBA (the public company that manages the sector) "at least 90 cents" per kilo, instead of the current €0.65.

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Zim Selects ORBCOMM’s Platform to Manage Their Fleet of Refrigerated Containers

2022-11-18

ORBCOMM Inc., the global provider of Internet of Things (IoT) solutions, announced that ZIM Integrated Shipping Services s selected ORBCOMM’s fleet management platform, ReeferConnect, for remote monitoring of their refrigerated containers. ORBCOMM will be showcasing its comprehensive ReeferConnect platform supporting all marine assets from refrigerated and dry containers to chassis to vessels in Booth D32 at Intermodal Europe in Amsterdam from November 8-10, 2022.

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Italy: Vado Reefer Terminal Ready to Investment of 68 Million Euro

2022-11-18

There is not only gas. The Reefer Terminal has launched an ambitious investment program for a total of 68 million euro, with the aim of modernizing the facilities dedicated to fruit and containers. The Port System Authority is evaluating the application presented by Gnl Med, a joint venture of which the Novella Group, Autogas and Levorato Marcevaggi are part, to establish a liquefied natural gas deposit in the areas between Vado and Bergeggi for the supply of fueled ships.

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Philippines’ Banana Exports in Asia Fell from 90% to 60%

2022-11-18

According to local media the share of banana exports in Asia of the Philippines, the world's second largest banana exporter, continues to shrink. Heavily contested from other Asian countries, the Philippines' share of banana exports in Asia fell to 60 percent from 90 percent last year. Philippine banana exports fell 37 percent to 2.4 million mt from 3.8 million mt last year, according to the Food and Agriculture Organization of the United Nations (FAO).

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RAYO and Peru Reefer Service - Week 44 / 2022

2022-11-03

Seatrade Chartering B.V. Tel: (+31) 88 543 1500 Email: teamecuador@seatrade.com / www.seatrade.com

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MSC Warns of Difficulties Ahead for Container Shipping Sector

2022-10-14

Mediterranean Shipping Co. (MSC) boss Soren Toft has warned of some difficult times ahead for the container shipping sector. Taking to social media to share his thoughts on how the market and MSC were developing at the end of the third quarter Toft, CEO of MSC, commented that the market was "normalizing".

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75% Chance of La Niña During December-February 2022-23

2022-10-14

According to the National Oceanic and Atmospheric Administration (NOAA), below-average sea surface temperatures (SSTs) continued across the central and eastern equatorial Pacific Ocean during September. Most Niño indices decreased during the past month, with the latest weekly index values spanning -0.8ºC to -1.6ºC. Negative subsurface temperature anomalies mainly remained unchanged for the last couple of months, reflecting the persistence of below-average temperatures across the eastern Pacific Ocean.

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Hainan production area began to end Guangdong into the mainstream domestic banana production area

2022-09-23

Hainan bananas have entered the closing stage, and prices continue to move chaotically. Merchants gradually moved to the two Guangzhou areas, and some production areas in Zhanjiang, Guangdong Province, were at the peak of listing, becoming the mainstream banana-producing areas in China.

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Fyffes Partners with the Food Bank of Honduras

2022-09-09

To support healthy nutrition and reduce school absenteeism of children in the communities near Fyffes melon-producing farms in Choluteca, Honduras, Fyffes, and the Food Bank of Honduras have created a pilot programme, 'Nutrition with Melon Flavour' (or 'Nutrición con Sabor a Melón') which has already benefited 138 families. The beneficiaries of the pilot programme are students from the Ramón Villeda Morales and Manuel Milciades Mendieta schools, from the communities of La Permuta and Tablones Abajo, both from the municipality of Santa Ana de Yusguare, Choluteca.

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Australian Banana Growers' Council Appoints New CEO

2022-09-09

The Australian Banana Growers' Council (ABGC) announced the appointment of Leanne Erakovic as its new Chief Executive Officer following the retirement of Jim Pekin. Ms Erakovic's appointment follows a lengthy and thorough selection process managed by a specialist recruitment firm. She has been with the ABGC for six years as an Executive Officer.

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Aldi Süd Buys Bananas More Fairly

2022-09-09

On the way to fairer pricing in the banana supply chain, Aldi Süd has decided to take a new approach to procurement policy. Aldi Süd is now committed to long-term supplier relationships, stable purchase quantities, and covering sustainable production costs. At the same time, the discounter obliges its suppliers to disclose all relevant expenses. The aim is to enable the producers in the countries of origin to earn a living.

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