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Pandemic drives sea freight prices to record high

The Covid-19 pandemic, which initially brought global shipping to a virtual standstill, did not bode well for the industry and led to “an unprecedented drop in demand”

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UTCC: Thai export sector to be affected by US-China trade war

Container shipping prices have reached record highs some 18 months after the outbreak of the coronavirus pandemic which disrupted maritime logistics chains and drove demand sky-high.

“We are basically running out of vessels and of empty containers,” Alan Murphy, head of the consultancy Sea Intelligence, told AFP.

The Covid-19 pandemic, which initially brought global shipping to a virtual standstill, did not bode well for the industry and led to “an unprecedented drop in demand”, said Didier Rabattu, of Lombard Odier Investment Managers.

But this did not account for the trends among US and European consumers who during lockdown stopped spending in restaurants and theatres or going on holiday and instead used their money to purchase material goods — many of them imported from Asia.

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Business

Thailand aims to push its games and content industry

After almost a year under the pandemic, the number of game players in Thailand rose to 32 million and helped the market generate over a billion dollars in 2020, according to NewZoo, an international analytics and market research group.

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Currently, key digital organizations involved in the economy are joining forces to push the Thai gaming industry, so as to attain the level of a regional hub.

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Investment

Thailand’s H1 Investment Applications rise 158% in combined value, BOI says

Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.

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In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.

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