Pandemic drives sea freight prices to record high

13 Sept 08:39 Key points summarised by AI

Global container shipping prices have surged to unprecedented record highs, with key routes more than tripling in cost due to pandemic-induced logistics disruptions and a severe shortage of vessels and empty containers.
Consumer spending patterns shifted during lockdowns, as people diverted funds from services to purchasing material goods, predominantly imported from Asia, significantly boosting demand for sea freight.
Operational disruptions, including sick dockers and major incidents like the Suez Canal blockage, exacerbated the crisis, resulting in record-breaking profits for major shipping companies like CMA CGM and Maersk.
Industry experts predict that these elevated prices will likely persist into early 2022, driven by sustained high demand and shipping companies' collective strategy to maintain pricing discipline.

New home loan scheme aims to boost property sector with Bt125 billion

20 Oct 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.