Maersk CEO sees Red Sea disruptions through 2025
Speaking to CNBC today, Aug. 7, he noted that Q2 2025 global container demand surpassed forecasts, driven by a recovery in China's manufacturing and faster global export growth.
He added that spot freight rates jumped 37% in Q2 as capacity utilization approached full levels, reflecting strong momentum in global trade activity.
Clerc emphasized China's expanding role in the global economy but said Maersk sees no current need for new ultra-large vessels.
Instead, the company is prioritizing a flexible network that reaches smaller, non-traditional ports, he said.
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Arab News
3 hours ago
- Arab News
Can Turkish-European collaboration thrive in Africa?
In 2009, Ahmet Davutoglu, top adviser to Recep Tayyip Erdogan, Turkiye's prime minister at the time and now president, said that 'the road to Paris passes through Africa,' emphasizing that Ankara's decision to deepen ties with Africa would strengthen, rather than undermine, its European ambitions. Since then, Turkiye has significantly expanded its presence in Africa with a combination of soft and hard power, incorporating defense, economic, cultural, and political engagement. There were concerns that Turkiye might leverage its growing influence to counter the policies of EU member states. However, given Turkiye's improved relations with Brussels in recent years, especially since the Ukraine war, its policies in Africa may be viewed differently, perhaps in a more collaborative way. However, to achieve this, it is important to understand the characteristics of Turkiye's involvement in Africa, and explore how the EU could potentially leverage these to its advantage. Turkiye's outreach to Africa is three dimensional. First, it is politically driven, supporting its status as a middle power on the global stage. As Davutoglu said in 2009: 'Africa is on the verge of a new era, and Turkiye must embrace the new realities on the ground. A country that undermines Africa cannot have an international standing.' Second, Turkiye's involvement is economically motivated. There is increasing demand from African states to partner with Turkiye, a shift that the EU should be keen to recognize and leverage. Third, Turkiye's growing influence in Africa is supported through soft-power elements, such as mediation, that some EU member states lack — and, again, could leverage. Finally, it is security oriented, with Turkiye's expanding defense ties with the African states. At a time when Turkiye and EU states are aiming to strengthen their position in Africa, it is important to explore potential areas where Brussels can collaborate with Turkiye or benefit from its growing role in Africa. The first area is security. Turkiye has established significant defense cooperation with African states, including drone sales and military training. Today, it is seen by African countries as a preferable security provider. EU member states also seek stability on the continent for their interests. A stable continent will not only benefit the people of Africa, but also have implications from the Middle East to Europe. Turkiye's growing security presence is a strength the EU can look to leverage in order to achieve shared goals. Second, Turkiye's engagement through development projects should not necessarily be seen as a challenge to European interests. Turkish companies are actively involved in high-risk regions of Africa, with visible infrastructure projects that could align with European interests. Humanitarian aid is another area for potential collaboration. For example, two Turkish scientists are leading efforts to combat hunger in Africa as part of a food project funded by the EU. More projects in this domain could be supported by Brussels, with Turkiye taking an active role on the ground. At a time when Turkiye and EU states are aiming to strengthen their position in Africa, it is important to explore potential areas where Brussels can collaborate with Turkiye or benefit from its growing role in Africa. Dr. Sinem Cengiz Third, Turkiye is trying to build trust across the African continent through its mediation efforts between conflicting parties. Some EU countries' historical influence and colonial legacy in Africa complicates their potential mediating role, so Turkiye could indirectly serve the EU interests in this aspect. Fourth, China has emerged as a serious actor in Africa. Turkiye, as an EU candidate country, could be viewed by Brussels as a less threatening force than China. Africa was a competitive region for both Turkiye and the Gulf states. However, as Turkiye has reconciled its relations with the Gulf countries, the nature of this competition has changed, with both sides compartmentalizing their engagements. Some EU states and Turkiye could take a similar approach, managing their respective relationships with Africa in a way that becomes mutually beneficial. In June, Faruk Kaymakcı, Turkiye's permanent delegate to the EU, highlighted the growing momentum in Turkiye-Africa relations at the Brussels-Africa Hub, saying on X: 'The EU and EU candidate Turkiye can achieve a lot together in and for Africa, leveraging their comparative advantages.' However, EU states diverge in their perceptions on various issues, and the question of Turkiye's role in Africa is no exception. France, which views Africa as a 'backyard,' and a region of critical defense, economic, and development interest, is unlikely to welcome the growing Turkish presence. When Niger decided to expel French and US military personnel and revoke mining contracts held by French and Canadian companies, Turkiye stepped in. Ankara secured a series of agreements in infrastructure, defense, and mining with Niger, and supplied Bayraktar TB2 drones to the country. For African countries, Turkiye is a good alternative to EU states when it comes to arms sales and defense cooperation. This approach also shows greater flexibility on the part of African countries seeking to diversify their defense capabilities. On the other hand, some EU states, such as Italy, are keen to find common ground with Turkiye in Africa, especially as France's traditional influence on the continent begins to wane. Germany, too, is adjusting its Africa strategy in response to shifting dynamics. For Germany and Italy, and even other countries such as Spain, key areas of cooperation with Turkiye could be migration, energy, and the economic development of African nations. EU countries are already cooperating with Turkiye in areas such as trade, migration, and counter-terrorism, and could expand this in Africa. The response to my question in the headline is, yes. Turkish and European collaboration can thrive in Africa if both manage to compartmentalize their relations in a way that leverages their comparative advantages, strengths, and weaknesses. • Dr. Sinem Cengiz is a Turkish political analyst who specializes in Turkiye's relations with the Middle East. X: @SinemCngz
Arab News
7 hours ago
- Arab News
Vitesse Arnhem lose last bid to save professional status, angering supporters
The Central Netherlands Court rejected the club's appeal to overturn a decision by the Dutch Football Association to revoke their professional licenseDutch media showed images of scuffles in Arnhem city center as supporters gatheredAMSTERDAM: One of the Netherlands' oldest clubs, Vitesse Arnhem, lost a final bid to save their professional license on Friday and were effectively kicked out of the league, sparking fan Central Netherlands Court rejected the club's appeal to overturn a decision by the Dutch Football Association (KNVB) to revoke their professional media showed images of scuffles in Arnhem city center as supporters gathered. One journalist was slapped, the Algemeen Dagblad newspaper reported, as anger was directed against court upheld the KNVB decision after the football association said the club had circumvented and undermined the licensing system for years and had spurned repeated opportunities to regularise their affairs, including debt reported to be around 14 million euros ($16.3 million).The club, established in 1892, had been sanctioned last year and relegated to the Dutch second division because of financial irregularities, which the KNVB said included the absence of a bank account, the absence of a controlling accountant, and the fact that no conclusive budget could be were the first Dutch club to have foreign owners in 2010 when Georgian businessman Merab Jordania took over the club with Russian Valeriy Oyf becoming majority owner in club's financial fortunes changed drastically after sanctions that followed Russia's invasion of decision means Saturday's scheduled match against Almere City has been canceled and leaves the Dutch second division with 19 a statement, Vitesse said they were 'devastated' by the verdict. 'What the future holds is unclear,' the statement said.'The club is exploring options and continues to talk to stakeholders to safeguard football in Arnhem.'Vitesse, who were four-time runners-up in the Dutch league but never won the championship, will be forced to either continue as an amateur club or cease to Dutch league has two divisions, but there is no mandatory promotion and relegation between the second tier of the professional competition and the amateur ranks.'The worst-case scenario has come true,' said Arnhem's Alderman for Sports Affairs Bob Roelofs.'This is a tragedy for the city, for the supporters, for Vitesse. The city has lost a large part of its DNA.'
Arab News
8 hours ago
- Arab News
Pakistan has received over 58,000 Hajj 2026 applications
ISLAMABAD: Pakistan has received over 58,000 applications from intending pilgrims for the 2026 Hajj, the religious affairs ministry said on Friday, adding that designated banks will remain open on Saturday, Aug. 9, to continue accepting Hajj forms. The country has been allotted a Hajj quota of 179,210 pilgrims, of which 129,210 seats are reserved under the government scheme, while the remaining are allocated to private tour operators. Under the government scheme, pilgrims can choose between a long Hajj package (38–42 days) and a short package (20–25 days). The estimated cost of the government Hajj package ranges between Rs1,150,000 and Rs1,250,000 (approximately $4,050 to $4,236). "So far, more than 58,000 Hajj applications have been received," the Ministry of Religious Affairs said in a statement. "The designated banks will remain open tomorrow, Saturday, for receiving Hajj applications," it added. "The receipt of applications from registered Hajj pilgrims will continue on Saturday, Aug. 9." The statement highlighted the State Bank of Pakistan (SBP) has issued instructions to the 14 designated banks in this regard, following a request from the ministry. Hajj applications can also be submitted online or through designated banks, it added, depending on the applicant's convenience. Individuals, registered on a first-come, first-served basis, can deposit the first installment of their Hajj dues by tomorrow, according to the ministry. The second installment of Hajj dues will be collected starting in November this year, it said. Saudi Arabia had approved the same quota of pilgrims for Pakistan for 2025 as well. However, a significant portion of the private Hajj quota remained unutilized due to delays by tour operators in meeting payment and registration deadlines, while the government successfully fulfilled its full allocation of over 88,000 pilgrims. Private operators cited technical issues including payment processing problems and communication breakdowns as the main reasons for the shortfall.
