Weekly update – 06/11/23

What is happening this week in Shipping, Energy, and Geopolitics? SEG’s team examines key news and trends from around the world. The report is released and updated every Friday. 

Key events

Shipping: Suez Canal announces a 15% fee increase for northbound traffic starting in January.

Energy: Canada nearing the unveiling of a draft plan for an oil and gas emissions cap.

Geopolitics: China’s $2.79 billion investment in lithium mining in Zimbabwe, signaling a significant move in global mineral resource strategy.

Important movements:

Shipping: Rate fluctuations in Asia-US and Asia-Europe routes, with significant increases noted.

Energy: Petrobras reports a 41.5% decline in Q3 profit; Shell takes legal action against Greenpeace.

Geopolitics: Zimbabwe’s increased lithium mining operations, largely driven by Chinese investment.

What to watch out for:

Shipping: The impact of the Panama Canal’s capacity reduction due to drought on global shipping routes and costs.

Energy: Global oil price trends amidst growing demand concerns and geopolitical tensions.

Geopolitics: The ongoing effects of China’s investments in African mining operations on the global supply of critical minerals like lithium.

Moses Philip Felous
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