MEDports Association Studies Development Prospects amid COVID-19

UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM
UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM
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MEDports Association Studies Development Prospects amid COVID-19

UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM
UfM webinar on maritime transport: ports must remain fully operational with all their regular services in place. Copyright: UfM

In view of the disruption generated by the COVID-19 pandemic on the maritime networks, the Union for the Mediterranean (UfM) and the MEDports Association co-hosted a webinar with key sectorial partners to discuss how to enhance the sustainability and resilience of ports and maritime transport in the Mediterranean region during and after the pandemic.

The virtual meeting saw the participation of the International Association of Ports and Harbours (IAPH), the International Transport Forum at the OECD (ITF), the Institut Supérieur d’Économie Maritime (ISEMAR), the International Maritime Organisation (IMO), the United Nations Conference for Trade and Development (UNCTAD) and the European Commission (EC), as well as port authorities from the Mediterranean region and other areas across the globe.

The participants stressed that the Mediterranean Sea has been a critical maritime and commercial route for millennia and today. It is home to 87 ports of various sizes and strengths, serving local, regional, and international markets.

The COVID-19 pandemic has showcased the vulnerability of maritime networks, port efficiency, and hinterland connectivity in the Mediterranean to crisis situations.

Hervé Martel, President of the MEDports Association and CEO of the Port Maritime de Marseille, stated that: “We must anticipate and monitor the consequences of this crisis and contribute to building the day after through the implementation of new and more integrated innovative solutions in the Mediterranean basin aimed at advancing the ecological transition, the organizational renewal of regional logistics chains -in particular through the development of Motorways of the Sea services-, the industrial transition -including through relocation and re-regionalization of certain productive systems- and, finally, improving skills and qualifications to deal with all these changes.”

For his part, UfM Secretary General Nasser Kamel highlighted that: “The maritime industry is playing an essential role in the short-term emergency response to the pandemic, by facilitating the transport of vital commodities and products, thus sustaining jobs, international trade, and the global economy. Today, the UfM encourages regional partners to share good practices in the recovery phase so, in the final analysis, we succeed in keeping supply chains open at all times ensuring a continuous flow of maritime trade, while safeguarding health, safety and the well-being of the maritime transport community.”

Hervé Martel, President of the MEDports Association and CEO of the Port Maritime de Marseille, stated that: “We must anticipate and monitor the consequences of this crisis and contribute to building the day after through the implementation of new and more integrated innovative solutions in the Mediterranean basin aimed at advancing the ecological transition, the organizational renewal of regional logistics chains -in particular through the development of Motorways of the Sea services-, the industrial transition -including through relocation and re-regionalization of certain productive systems- and, finally, improving skills and qualifications to deal with all these changes.”

It was concluded that, with due regard to the protection of public health, ports must remain fully operational with all their regular services in place, guaranteeing complete functionality of the supply chains. Also, governments were called upon to support shipping, ports and transport operators in view of best practices.

The participants reiterated that the maritime transportation system will only be sustainable when it delivers safe, secure, efficient and reliable transport of goods across the world, while minimizing pollution, maximizing energy efficiency and ensuring resource conservation.

It was underlined that, in the maritime sector, resilience means that ports, and the organizations that depend on ports, can adapt to changing conditions and, when disruptions occur, they can recover quickly and resume business stronger than before.

Furthermore, it was noted that the COVID-19 pandemic could be an opportunity for the maritime industry to change the way the industry operates so as to effectively contribute to broader systemic resilience.

IAPH Managing Director Patrick Verhoeven highlighted that the crisis has painfully demonstrated that many ports are still lagging behind in terms of electronic commerce and data exchange. Acceleration of digitalization must, therefore, be a top priority in the post-COVID-19 era.

Meanwhile, Julian Abril Garcia, IMO Head of Facilitation, called for governments’ attention stating that “as of mid-June, around 150,000 seafarers per month will require international flights to ensure that crew changeovers can take place”.

Paul Tourret, Director of ISEMAR, stressed that we need to first understand the effects of the lockdown to build the recovery plan of the sector in the next month.

Nelly Asteriou and Szymon Oscislowski informed the participants that the EC introduced various short-term relief measures to maintain the freight flows, preserve the supply chains, protect crews and relieve current financial pressures on economic operators, along with medium to long term recovery measures to address economic recovery and ensure the sustainable development of the EU maritime industry over the years to come.



China to Boost Exports, Imports in 2026, Seeking ‘Sustainable’ Trade, Official Says

A woman walks in Ritan park one day after a heavy snowfall in Beijing on December 13, 2025. (AFP)
A woman walks in Ritan park one day after a heavy snowfall in Beijing on December 13, 2025. (AFP)
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China to Boost Exports, Imports in 2026, Seeking ‘Sustainable’ Trade, Official Says

A woman walks in Ritan park one day after a heavy snowfall in Beijing on December 13, 2025. (AFP)
A woman walks in Ritan park one day after a heavy snowfall in Beijing on December 13, 2025. (AFP)

China plans to expand exports and imports next year as part of efforts to promote "sustainable" trade, a senior economic official said on Saturday, state broadcaster CCTV reported.

The trillion-dollar trade surplus posted by the world's second-largest economy is stirring tensions with Beijing's trade partners and drawing criticism from the International Monetary Fund and other observers who say its production-focused economic growth model is unsustainable.

"We must adhere to opening up, promote win-win cooperation across multiple sectors, expand exports while also increasing imports to drive sustainable development of foreign trade," Han Wenxiu, deputy director of the Central Financial and Economic Affairs Commission, told an economic conference.

China will encourage service exports in 2026, Han said, pledging measures to boost household incomes, raise basic pensions and remove "unreasonable" restrictions in the consumption sector.

He restated the government's call to rein in deflationary price wars, dubbed "involution", where firms engage in excessive, low-return rivalry that erodes profits.

The IMF this week urged Beijing to make the "brave choice" to curb exports and boost consumer demand.

"China is simply too big to generate much (more) growth from exports, and continuing to depend on export-led growth risks furthering global trade tensions," IMF Managing Director Kristalina Georgieva told a press conference on Wednesday.

Economists warn that the entrenched imbalance between production and consumption in the Chinese economy threatens its long-term growth for the sake of maintaining a high short-term pace.

Chinese leaders promised on Thursday to keep a "proactive" fiscal policy next year to spur both consumption and investment, with analysts expecting Beijing to target growth of around 5%.


UK Economy Unexpectedly Shrinks in October

People exit the London Underground station at Bank, outside the Bank of England (L) and the Royal Exchange building (back R) in central London on December 12, 2025. (Photo by HENRY NICHOLLS / AFP)
People exit the London Underground station at Bank, outside the Bank of England (L) and the Royal Exchange building (back R) in central London on December 12, 2025. (Photo by HENRY NICHOLLS / AFP)
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UK Economy Unexpectedly Shrinks in October

People exit the London Underground station at Bank, outside the Bank of England (L) and the Royal Exchange building (back R) in central London on December 12, 2025. (Photo by HENRY NICHOLLS / AFP)
People exit the London Underground station at Bank, outside the Bank of England (L) and the Royal Exchange building (back R) in central London on December 12, 2025. (Photo by HENRY NICHOLLS / AFP)

Britain's economy unexpectedly contracted again in October, official data showed Friday, dealing a blow to the Labour government's hopes of reviving economic growth.

Gross domestic product fell 0.1 percent in October following a contraction of 0.1 percent in September, the Office for National Statistics said in a statement.

Analysts had forecast growth of 0.1 percent.

Manufacturing rebounded in the month as carmaker Jaguar Land Rover resumed operations after a cyberattack that had weighed on the UK economy in September, AFP reported.

But analysts noted that businesses and consumers reined in spending ahead of Britain's highly-expected annual budget.

"Business and consumers were braced for tax hikes and the endless speculation and leaks have once again put a brake on the UK economy," said Lindsay James, investment manager at Quilter.

Prime Minister Keir Starmer's Labour party raised taxes in last month's budget to slash state debt and fund public services.

At the same time, Britain's economic growth was downgraded from next year until the end of 2029, according to data released alongside the budget.

Finance Minister Rachel Reeves raised taxes on businesses in her inaugural budget last year -- a decision widely blamed for causing weak UK economic growth and rising unemployment.

She returned in November with fresh hikes, this time hitting workers.
Analysts said that Friday's data strengthened expectations that the Bank of England would cut interest rates next week.


Gold Hits Seven-week High on Safe-haven Demand; Silver Notches Peak

FILE PHOTO: A goldsmith works on a gold necklace at a workshop in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave/File Photo
FILE PHOTO: A goldsmith works on a gold necklace at a workshop in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave/File Photo
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Gold Hits Seven-week High on Safe-haven Demand; Silver Notches Peak

FILE PHOTO: A goldsmith works on a gold necklace at a workshop in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave/File Photo
FILE PHOTO: A goldsmith works on a gold necklace at a workshop in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave/File Photo

Gold prices rose to a seven-week high on Friday, bolstered by a soft dollar, expectations of interest rate cuts and safe-haven demand prompted by geopolitical turbulence, while silver hit a record high.

Spot gold rose 0.7% to $4,311.73 per ounce by 0945 GMT, its highest level since October 21, and set for a 2.7% weekly gain, Reuters reported.

US gold futures gained 0.7% to $4,343.50.

The dollar hovered near a two-month low, and was on track for a third straight weekly drop, making bullion more affordable for overseas buyers.

Additionally, "the sharp rise in US weekly jobless claims as well as US-Venezuela tensions are underpinning gold and keeping haven demand strong," said Zain Vawda, analyst at MarketPulse by OANDA.

US jobless claims rose by the most in nearly 4-1/2 years last week, reversing the sharp drop seen in the previous week.

The US Federal Reserve trimmed rates by 25 basis points for the third time this year on Wednesday, but indicated caution on additional cuts.

Investors are currently pricing in two rate cuts next year, and next week's US non-farm payrolls report could provide further clues on the Fed's future policy path.

Non-yielding assets such as gold tend to benefit in low-interest-rate environment.

On the geopolitical front, the US is preparing to intercept more ships transporting Venezuelan oil following the seizure of a tanker this week.

Meanwhile, India saw widening gold discounts this week as demand remained subdued despite the wedding season, while high spot prices also dented demand in China.

Spot silver rose 0.5% to $63.87 per ounce, after hitting a new record high of $64.32/oz, and is headed for a 9.5% weekly gain.

Prices have more than doubled this year, supported by strong industrial demand, dwindling inventories and its inclusion on the US critical minerals list.

"Silver is supported by industrial demand amid fears of shortages, a continued tight market, and the speculative frenzy, mostly from retail investors which has helped drive inflows to Silver ETFs," said Ole Hansen, head of commodity strategy at Saxo Bank.

Elsewhere, platinum was up 0.8% at $1,708.11, while palladium climbed 2.2% to $1,516.95. Both were headed for a weekly rise.