Breaking news! Houthi armed forces expand their strike range to the Indian Ocean! The Middle East and the route around the Cape of Good Hope sound the alarm | Foreign Trade News Express

Breaking news! The Houthi armed forces' strike range has expanded to the Indian Ocean!

 

Yemen's Houthi leader Abdul Malik al-Houthi said on Thursday the group's operations against ships would escalate to prevent vessels with ties to Israel from passing through the Indian Ocean towards the Cape of Good Hope.

 

"Our main task is to prevent ships linked to the Israeli enemy from passing through the Arabian Sea, the Red Sea and the Gulf of Aden, but also from passing through the Indian Ocean to the Cape of Good Hope," the Houthi leader said. "This is an important step and we have already started to implement it," he added.

 

 

 

The Houthis said they have attacked 73 ships since the group began its attacks, killing 34 Houthi militants in the process.

 

The escalation of actions announced this time has undoubtedly intensified tensions in the Red Sea region, making the global shipping industry uneasy again. Since November last year, the Houthi armed group has launched attacks on passing ships in the Red Sea and the Gulf of Aden many times, disrupting global shipping. Ships of major international shipping companies around the world have decided to avoid the Red Sea and detour from the Cape of Good Hope at the southern tip of Africa. This shipping route is longer and more expensive, which has increased the journey of sea shipping by about 9 days and increased the cost by at least 15%.

 

In response, Yemeni Houthi spokesman Mohammed Ali Houthi issued a statement in January saying that as long as ships passing through the Red Sea declare that they have "no relationship with Israel", they will not be attacked. "This step does not require the militarization of the Red Sea and will not harm international shipping. With this step, ships can continue to sail safely without any obstacles and avoid the trouble of bypassing the Cape of Good Hope."

 

 

 

But Mohammed Ali Houthi also warned that if a ship issues a "false notification" and heads for an Israeli-controlled port after passing through the Red Sea, it will be "blacklisted" by the Yemeni Houthi armed forces and seized the next time it attempts to pass through the Red Sea.

 

But in March this year, the Houthis attacked a US cargo ship sailing in the Gulf of Aden. At that time, its destination marked on AIS was "not related to Israel", confirming that the Houthis were attacking ships related to Israel, Britain and the United States.

 

In the early morning of March 12, local time, Yahya Saraiya, a spokesman for the Yemeni Houthi armed forces, announced that the Houthi armed forces had successfully launched multiple missiles at the USS Pinocchio, a US container ship sailing in the Red Sea, and accurately hit the target, but the specific time of the attack was not announced to the public.

 

Saraiya further stated that in order to express support for the Palestinian people in the Gaza Strip, the Houthi armed forces will increase their attacks on the waters near the Red Sea during Ramadan.

 

At present, the Red Sea crisis continues to escalate, and the international community is paying close attention to it. In the future, the actions of the Houthi armed forces and how the global shipping industry responds will continue to be the focus of attention of all parties.

 

 

 

An increase of 8.7%! Foreign trade started well in the first two months

 

In the first two months of this year, my country's foreign trade achieved a year-on-year growth of 8.7%, making a good start. The interviewed companies and experts said that the foreign trade orders at the beginning of the year exceeded expectations, and they look forward to the export performance in 2024. It is expected that the export of high value-added products such as new energy will continue to maintain high growth.

 

An increase of 8.7%! Foreign trade has achieved a good start

 

Data released by the General Administration of Customs on the 7th showed that in the first two months of 2024, the total value of my country's import and export of goods was 6.61 trillion yuan, a year-on-year increase of 8.7%. Among them, exports were 3.75 trillion yuan, a year-on-year increase of 10.3%; imports were 2.86 trillion yuan, a year-on-year increase of 6.7%.

 

"In the first two months, my country's trade in goods continued the positive trend since the fourth quarter of last year, with year-on-year growth for five consecutive months. The scale of imports and exports hit a historical high for the same period, achieving a good start," said Lu Daliang, Director of the Statistics and Analysis Department of the General Administration of Customs.

 

 

 

Professionals analyzed that, against the background of a higher export base in the same period last year, my country's exports continued to maintain rapid growth in the first two months, indicating strong export momentum at the beginning of the year. The recovery of external demand was an important factor in the export exceeding expectations in the first two months. Since the beginning of this year, the JPMorgan Chase Global Manufacturing PMI Index, which measures the global economic prosperity, has continued to be above the balance line, ending the previous 16 consecutive months of contraction, indicating marginal improvement in external demand at the beginning of the year.

 

Gao Shiwang, director and spokesperson of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said that in the first two months of this year, the export of machinery and electronic products continued the year-on-year growth momentum since the fourth quarter of last year, reaching a record high for the same period in history, showing strong resilience. Key industries such as computer equipment, integrated circuits, household appliances, automobiles, and general machinery and equipment all achieved growth. The performance that exceeded expectations indicates that the export of machinery and electronic products will continue to show supply resilience in 2024, and export growth can be expected throughout the year.

 

Many foreign trade companies said that new orders at the beginning of the year exceeded expectations and they look forward to export performance in 2024. “Faced with a complex external environment, many foreign trade companies have stepped up their efforts in product research and development and new market development, and strived to improve their core competitiveness.

 

The “new three things” continue to grow!

 

New momentum is accumulating for development. Industry experts believe that in 2024, exports of products represented by the "new three" - electric passenger cars, lithium-ion batteries and solar batteries - will continue to grow at a high rate, promoting further optimization of the export structure.

 

Professionals said that in the first two months, my country's automobile exports continued to be high, and the new export momentum continued to remain strong. "Behind the continued rapid growth of automobile exports is the substantial increase in the share of my country's new energy vehicles in the global new energy vehicle market, including developed economies such as the European Union."

 

"On Alibaba International Station, new energy passenger cars, golf carts, electric motorcycles and electric tricycles have become hot-selling categories, and the growth is still continuing," said a relevant person in charge of Alibaba International Station.

 

Gao Shiwang analyzed that the global market penetration rate of new energy products such as electric passenger cars and power batteries is still low, and there is great growth potential. As some countries promote carbon reduction, the demand for new energy products will continue to be released, and it is expected that my country's emerging industry exports will continue to grow.

 

Economists believe that attention should be paid to the export opportunities brought about by the new round of technological cycle and global energy transformation. "Considering the urgent pressure of global energy transformation and the continuous advancement of carbon neutrality in various countries, as well as my country's super strong capabilities in new energy manufacturing globally, it is expected that exports in new energy vehicles, photovoltaics and other related fields will maintain high growth."

 

"Overall, this year's foreign trade has started well. Preliminary judgment shows that it can maintain growth in the first half of the year, and there is a basis and conditions to achieve the quality improvement and quantity stability proposed in the government work report throughout the year."

 

 

 

UK National Statistics Office: Red Sea situation has not affected UK goods imports

 

The UK statistics agency said the chaos in the Red Sea had not affected UK cargo imports at the start of the year. Yemen's Houthi rebels have been attacking ships in this important waterway since late last year, including sinking the British bulk carrier Rubymar last month, causing many shipping to be diverted to longer and more expensive routes.

 

But imports to the UK have not fallen as a result of the turmoil, with the Office for National Statistics saying the inflow of goods from outside the EU rose by £700m in January. The agency said: "There is no evidence of an impact on imports... The number of cargo and tanker visits in January was similar to previous years."

 

 

 

Automobile exports increased by more than 30% year-on-year in the first two months

 

The latest data released by the China Association of Automobile Manufacturers shows that my country's automobile exports have continued to perform well this year. From January to February this year, 822,000 vehicles were exported, a year-on-year increase of 30.5%. Among them, 182,000 new energy vehicles were exported, a year-on-year increase of 7.5%. Not only new energy vehicles, but also 640,000 traditional fuel vehicles were exported from January to February this year, a year-on-year increase of 39%.

 

The China Association of Automobile Manufacturers stated that from last year to now, China's automobile exports have continued to show strong growth momentum, reflecting that China's automobile industry has gradually demonstrated strong competitiveness in the international market in terms of technological innovation, cost control, market layout and other aspects.

 

 

Australia to remove import tariffs on nearly 500 goods

 

The Australian government announced on March 11 that it will cancel import tariffs on nearly 500 commodities from July 1 this year, affecting a range of daily necessities including washing machines, refrigerators, dishwashers, clothing, sanitary napkins, bamboo chopsticks, etc.

 

Australian Finance Minister Chalmers said that these tariffs will account for 14% of the total tariffs and are the largest unilateral tariff reform in the local area in 20 years.

 

The specific list of products will be announced in the Australian budget on May 14.

 

 

 

 

Cuba adjusts import tariffs on some products

 

According to the Cuban Debate Network, the Cuban Ministry of Finance and Prices recently issued Resolution No. 7 of 2024 in the Cuban Official Gazette, deciding to reduce the import tariff rate on raw materials and intermediate products for production, especially raw materials and intermediate products for agricultural production, by 50% from January 25.

 

On the same day, the ministry also jointly issued Joint Resolution No. 1 of 2024 with the Ministry of Foreign Trade and Investment of Cuba, raising import tariffs on cigars, cigarettes, and alcoholic beverages including rum to 30% (the most-favored-nation tariff rate for related products will be raised to 15%) from January 25.

 

 

 

 

India signs free trade agreement with four European countries

 

On March 10, local time, after 16 years of negotiations, India and the European Free Trade Association signed a free trade agreement - the Trade and Economic Partnership Agreement. According to the agreement, India will eliminate most tariffs on industrial products of European Free Trade Association member countries in exchange for $100 billion in investment over 15 years, covering areas such as medicine, machinery and manufacturing.

 

The European Free Trade Association was established in 1960 and is seen as a "counterbalance" to the European Union. Its member states include Iceland, Liechtenstein, Norway and Switzerland, which are not members of the European Union.

 

 

Source: Focus, Today's Shipping, Best Shipping