On November 10, the Banana Export Marketing Association (ACORBANEC) celebrated seven years since its foundation. Currently, ACORBANEC is made up of 61 members, which represents 43% of the total banana exports in the country.

The Philippines has secured $603 million worth of purchasing agreements at the China International Import Expo (CIIE), with fresh fruits, such as bananas and durian, occupying the more significant chunk of the exports pie, according to the Philippines's Agriculture Attaché in Beijing. During the first two days of the trade fair in China, Anna Abejuela, Agriculture Counselor at the Embassy of the Philippines in Beijing

The Union of Pilots of the Panama Canal views with extreme concern the current situation of the low water levels of the Gatun and Alajuela lakes as a result of the climatological changes that the hydrographic basin is suffering and that not only affect the operations of the waterway, but also the supply of drinking water to approximately 50% of the population of the provinces of Panama, West Panama, and Colón.

Fresh Del Monte Produce Inc. announced a strategic partnership with Arena Packaging, a leading packaging, design, and pooling company in North America, to introduce Reusable Plastic Containers (RPCs) for bananas. The groundbreaking invention aims to transform industry standards for the leading fruit in fresh produce while significantly reducing food waste, carbon emissions, operational costs and preserving the fruit's health. With the introduction of RPCs, banana shipments now enjoy improved airflow and extended shelf life.

CMA CGM SA, the world's No. 3 container carrier, urged the industry to avoid a price war as the delivery of new vessels threatens to push global shipping to a protracted slump. "New capacity expected on the market in 2024 will likely continue to pull down freight rates," the French company controlled by billionaire Rodolphe Saade and his family said in an earnings statement on November 10. "The slowdown in the global economy is expected to continue weighing on our industry in the period ahead."

According to the preliminary report, the flooding of the Sula Valley hit national production again with millions of dollars in losses, especially with the destruction of bananas and other crops. The flooding of the Ulúa River flooded plains of the Sula Valley, mainly in the lower parts of the municipalities of Pimienta, Villanueva, Potrerillos and San Manuel in Cortés, in Santa Rita and El Negrito in Yoro, extending to the Ramal del Tigre in Tela, Atlántida.

Heavy rains in the upper part of the Sierra Nevada de Santa Marta and the municipality of Zona Bananera caused the water level to rise, seriously affecting small banana and palm producers. José Francisco Zúñiga, Executive President of the Association of Banana Growers of Magdalena and La Guajira (Asbama), said: "From Asbama, we call on the authorities of the department, mayor's office and governor's office to declare an emergency.

Maersk is expected to post third-quarter revenue of $12.66 billion, down 44% from a year earlier, according to a FactSet consensus. Earnings before interest, taxes, depreciation and amortization are seen at $2.12 billion from $10.86 billion a year earlier, while net profit is seen falling 96% to $334 million, according to FactSet. Earnings are expected to be hit by a sharp drop in freight rates and weak demand for container freight.

Fresh Del Monte Produce Inc reported quarterly adjusted earnings of 35 cents per share for the quarter ended in September, lower than the same quarter last year, when the company reported EPS of 54 cents. The mean expectation of two analysts for the quarter was for earnings of 43 cents per share. Wall Street expected results to range from 37 cents to 48 cents per share.

The Panama Canal, which is facing a severe drought, announced that it will gradually reduce the number of ship crossings starting November 3 to save water. The Panama Canal Authority (ACP) indicated that it plans to initially cut daily crossings through this waterway, which moves almost 6% of the world's maritime trade, from 29 to 25. In 2022, an average of 39 ships passed through per day, but the number had been decreasing for months.

The El Niño phenomenon is already in Ecuador, according to the Oceanographic Institute of the Navy (Inocar) of the Andean country in a statement where it also reported that intense to moderate rains are expected from October 30 throughout the country. "The rainfall that is being recorded in some sectors of the country responds to atypical atmospheric circulation, and that is associated with the El Niño event," Inocar acknowledged on October 28, after two days of heavy rains in the city of Guayaquil and other parts of the Ecuadorian coast.

The King of Spain, Felipe VI, will host a lunch on Friday, November 3, for the president-elect of Ecuador, Daniel Noboa, who is visiting Madrid during a visit to Europe, hoping to gain support for some of his main projects. Noboa, who on October 15 won the second round of the presidential elections, will assume the presidency on December 1.

The Puerto Bolívar Maritime Terminal, operated by Yilport, will receive a new batch of STS and RTG cranes. The machines were manufactured by Mitsui E&S Machinery C and will arrive on November 21. The new STS cranes, which left the Port of Oita in Japan on October 24, stand out for their reach capacity of 67 meters (24 rows), allowing them to serve the largest container ships, even those of up to 20,000 TEUs.

Panama Lawmakers on Friday, November 3, Approved A National Moratorium on New Mining Explorations and Extraction Activities. After weeks of protests rattled the Central American nation, the law passed in its third and final vote and now requires President Laurentino Cortizo's signature, the National Assembly said in a statement.

Ecuador's President-elect Daniel Noboa appointed Danilo Palacios Marquez, 52 years of age, a graduate of the Zamorano Panamerican Agricultural School, as Minister of Agriculture and Livestock for his new Government. Palacios, a businessman from the province of El Oro, has experience in agriculture, commercial and industrial production.