China Barometer

China’s economic deceleration intensified in November, with consumption, investment, and industrial output under-performing expectations amid ongoing efforts to rein in supply and stabilise the

property sector. Policy makers have indicated further support for2026, including the issuance of ultra-long-term bonds to fund major projects and stimulate domestic consumption and investment. Energy China’s

total electricity generation reached 779.2 billion kWh in November, up by

2.7 percent year-on-year. Clean energy sources accounted for all incremental demand growth, sharply reducing coal’s share of power generation to 53.0percent. Manufacturing Crude steel output fell sharply in November to 69.87million tonnes, marking the weakest monthly level in two years. Cumulative production over the January–November period reached 817.9 million tonnes, keeping full-year output on track to fall below 1.0 billion tonnes for the first time in six years. Imports In November, China’s soybean imports reached a seasonal record high for the month since2021, rising to 8.11 million tonnes. Total soybean imports over the first eleven months amounted to103.79 million tonnes, up by

6.9 percent year-on-year, keeping full-year arrivals on track for a record amid strong South American supply. Exports Reinforcing the strong export momentum, China’s fertilizer exports jumped to 4.44 million tonnes in November, up by 31.7 percent year-on-year. From January to November, total exports of fertilizers reached 42.86 million tonnes, marking a sharp 46.4 percent increase year-on-year.

China’s industrial profits increased by 4.8 percent year-on-year in November, under shooting market expectations of a 5.0 percent rise and marking the weakest pace of growth since August2024.
Retail sales rose by just 1.3 percent year on-year in November, slowing sharply from October and under shooting market expectations of a 2.9 percent increase, marking the weakest growth since December 2022 despite ongoing consumer subsidy programmes.

Against this backdrop, Chinese policymakers have reiterated their commitment to further policy support in 2026, pledging to boost consumption and fixed-asset investment.
China’s total seaborne arrivals rose to USD 218.7 billion in November, up1.6percent from October’s four-month low, extending a six-month streak of sequential growth.
Export activity rebounded, without bound shipments climbing by 5.9 percent year on-year to an eleven-month high of USD 330.3billion in November.
China’s trade surplus widened sharply to USD112.0 billion in November, the third largest on record, lifting the cumulative surplus for the January–November period to a record USD1.1 trillion.

China -GDP Growth

Producer prices declined by 2.2 percent year-on-year in November, extending the deflationary cycle into a fourth consecutive year.
On a month-on-month basis, the producer price index edged up by 0.1 percent, unchanged from October, indicating that any near-term stabilisation remains tentative amid on-going excess capacity and weak demand.
Over the January–November period, producer prices were down by

2.7percent year-on-year. Coal mining prices, in particular, recorded one of the sharpest declines, falling by 11.8 percent on an annual basis.

Consumer inflation firmed in November, with the consumer price index rising by0.7 percent year-on-year, its strongest reading since February last year.
On a monthly basis, consumer prices edged down by 0.1 percent, marking the first month-on-month decline in five months.
Core inflation remained stable at 1.2 percent year-on-year in November, ending a six-month period of gradual acceleration while staying at its highest level in around 20months. Meanwhile, non-food prices softened slightly.

China -Inflation Rate

China’s crude steel output declined sharply in November, with production falling to 69.87million tonnes, down 10.9percent year-on- year, marking the weakest monthly level in two years.
Monthly crude steel production once again fell below the 80-million- tonnes threshold, down 3.0 percent month-on month.
Average daily crude steel production stood at 2.33 million tonnes per day, marginally higher than the previous month.
Over the January–November period, China produced 817.9 million tonnes of crude steel, representing a year-on-year contraction of

3.9percent and keeping full-year output on track to fall below1.0 billion tonnes for the first time in six years.

Factory activity showed a modest improvement in November, with the official Manufacturing PMI rising to 49.2, yet remaining in contraction for the eighth straight month. • The new orders index weakened further to 45.7, signalling a renewed pullback in demand across both

manufacturing and services, and pointing to limited near term support for industrial production.

Property investment remained under severe pressure in November,

with cumulative investment over the January November period falling by

15.9 percent year-on-year.

Property sales by floor area also weakened further, declining by 7.8 percent year-on-year over the first eleven months of 2025, pointing to persistently soft demand conditions.
New construction starts measured by floor area plunged by 20.5 percent year on-year, underlining developers’ continued caution.
Real estate development prosperity index slipped to 91.9 in November from 92.43 in October, signalling deterioration in sector sentiment. New home prices extended their downward trend, contracting by 2.4percent year-on-year in November.
China’s industrial value-added grew by 4.8 percent year-on-year in November, indicating broadly stable industrial momentum.

A sectoral breakdown showed mining value-added rising by 6.3 percent year-on year, while manufacturing output increased by 4.6percent.
China’s total electricity generation reached 779.2 billion kWh in November, up by 2.7 percent year-on-year but down by 2.6 percent on a month-on-month basis, reflecting shifting dynamics across generation sources.
Over the January–November period, nationwide power generation totalled 8.86 trillion kWh, representing a 2.4 percent year-on-year increase.
Clean energy sources accounted for all incremental demand growth, sharply reducing coal’s share of power generation to 53.0percent.
In November, electricity consumption across all major sectors reached

835.6 billion kWh, up by 6.2percent year-on-year, reflecting resilient economic activity in the country.

Hydropower output rose by a strong 17.1 percent year-on-year in November to 96.68billion kWh, although the pace of growth slowed compared with October.
Over the first eleven months, China added 252.9 gigawatts of solar power capacity, up by 40.0 percent compared with the same period last year.
China’s fossil-fuelled power generation fell by 4.2percent year-on-year in November to 496.95 billion kWh, reversing October’s 7.3 percent annual increase, which had marked a multi-decade high.
On a month-on-month basis, thermal power output also dropped by

3.3percent.

The November decline was driven by faster expansions in hydro and nuclear generation, shifting the record from robust growth to a notable contraction.
Over the January–November period, total thermal power generation reached 5.71 trillion kWh, down by 0.7percent year-on year.

Wind power generation re-bounded strongly in November, rising by

22.0 percent year-on-year after a sharp 56.1 percent annual decline in October.

By the end of 2025, China’s rapidly expanding wind power capacity is projected to push cumulative installations to 3.79 billion kWh.
In November, China’s crude oil imports rose by 4.9 percent year-on- year to 50.89 million tonnes, equivalent to 12.38 million barrels per day, with daily arrivals marking the highest level since August 2023.
Over the January–October period, total crude oil imports reached

521.87 million tonnes, up by 3.2 percent year-on-year, a record pace that is likely to be extended through to the end of 2025.

Seaborne flows from Saudi Arabia rose 8.4 percent to 7.55 million tonnes in November, while Iranian oil arrivals increased at their highest level since August to 1.35 million barrels per day.
Imports of natural gas, including both pipeline and liquefied natural gas, rose by 10.7 percent year-on-year in November to 11.95 million tonnes, while remaining sharply higher on a month-on-month basis, up by 21.07 percent.
Cumulative imports over the January November period totalled 114.55 million tonnes, down by 4.7 percent year-on year.
China’s LNG imports rebounded to 6.94 million tonnes in November, up

13.6 percent on year, hitting the highest level in eleven months.

November’s iron ore arrivals reached 110.54 million tonnes, a 0.7 percent decline from October’s 111.3 million tonnes, marking the second month in a row of decreasing imports.
Despite the monthly drop, imports remained above the 100-million- tonnes threshold for sixth consecutive month and substantially higher than the 101.86 million tonnes brought in during the same period last year.
Total flows for the year so far, marked an all-time high of circa 1.14 billion tonnes of iron ore, or 1.3 percent higher year-on year, maintaining its trajectory for another record-breaking year.

Despite weaker domestic steel demand, China’s iron ore portside inventories were pushed significantly up by 2.5 percent on month through November, to 139.04 million tonnes.
In November, domestic iron ore production increased by 2.3 percent year on-year to 83.03 million tonnes, although output was 1.2 percent lower than in the previous month.
Over the January–November period, Chinese mining companies cut iron ore production by 2.8 percent compared with the same period last year, bringing cumulative output to 923.62 million tonnes.
China imported 44.05 million tonnes of coal in November. The import volume was 5.6 percent higher than a month ago, representing a reversal from October’s monthly decline of 9.27 percent.
However, total monthly seaborne arrivals showed a continued decline on a year-to date basis. Dipping by 19.9 percent from November 2024 historical high of 54.98 million tonnes, with the drop widening by 10.15 percentage points compared to October.
Over January to November, China imported 431,68 million tonnes of coal, down 12.0 percent compared to the same period last year.
In November, China’s raw coal production reached 426.79 million tonnes, edging down by 0.5 percent year-on-year, marking a fifth consecutive month of annual decline.
On a month-on-month basis, coal output increased by 4.9 percent, supported by policy-driven efforts to ensure winter energy security and a rally in domestic coal prices to record highs during the previous month.
Over the January–November period, cumulative raw coal production totalled 4.40 billion tonnes, up by 1.4 percent year-on-year.
In 2021, rising by 13.4 percent year-on year November, China’s soybean imports reached a seasonal record high for the month since ear to 8.11 million tonnes. Arrivals fell by 14.3 percent month-on month, a move consistent with typical seasonal patterns.
Total soybean imports over the first eleven months amounted to 103.79 million tonnes, up by 6.9 percent year on-year, keeping full-year arrivals on track for a record amid strong South American supply.

Soybean shipments from Brazil increased sharply by 48.5 percent on year to 5.85 million tonnes in November, accounting for 72.0 percent of total imports.
Chinese customs cleared 2.09 million tonnes of grains excluding soybeans in November.
Corn imports recorded a pronounced spike, surging by 87.7 percent year-on year in November to 0.55 million tonnes.
Despite a month-on-month increase in domestic wheat output, seaborne wheat arrivals rose by 66.4 percent on month to 0.96 million tonnes, lifting cumulative imports for the year to 2.9 million tonnes.
Reinforcing the strong export momentum, China’s fertilizer exports jumped to 4.44 million tonnes in November, up by 31.7 percent year-on year.
From January to November, total exports of fertilizers reached 42.86 million tonnes, marking a sharp 46.4 percent increase year-on-year.
Urea prices surged sharply in 2025 due to rising natural gas costs, tighter export controls and geopolitical trade barriers on Russian and Belarusian exports.
China’s finished steel exports reached 9.98 million tonnes in November, a 2.0 percent uptick from October and a 7.5 percent rise on year, driven by weak domestic demand and high inventories.
Over the January–November period, steel exports maintained a robust pace, climbing by 6.7 percent year-on-year to 107.7 million tonnes, in stark contrast to the ongoing downtrend in steel production.
In November, domestic steel production dipped by 10.9 percent on year to 69.87 million tonnes, reaching its lowest level since December 2023.
In Νovember, China’s seaborne finished steel arrivals eased by 1.4 percent on month to 0.49 million tonnes.
On an annual basis, steel imports contracted sharply by 58.7 percent, extending the prolonged downward trend amid subdued domestic demand and policy adjustments.

Cumulative steel imports year to date stood at 5.54 million tonnes, down by 10.5 percent on year.
Despite resilient export flows, steel inventories remained elevated at

15.49 million tonnes, up by 13.4 percent compared with the same period last year.

China’s timber imports declined for an eighth consecutive month on an annual basis in November, totalling 4.70 million cubic metres, or 11.4 percent lower year on-year. On a month-on-month basis, timber arrivals rebounded by 12.3 percent.
China’s Global Timber Index slipped back into contraction at 49.6 in November, while the late-month resumption of U.S. log imports ended an almost eight-month suspension.

· Oil price cap set to be lowered again to $44 but full embargo remains on the table

The Russian oil price will be lowered from $47.6 to $44 a barrel in January.

EU is pushing for a full maritime services ban before February.

US will not engage further with ‘Biden’s’ price cap, but a full embargo

could be supported.

If a peace deal is not imminently agreed, the next EU sanctions move is likely to see a full maritime services ban shutting down all finance and insurance to Russian energy shipping and it may also come with US support. Remains to be seen whether the US together with the EU countries continue to support Ukraine to end this war going on now for five years.

· Chinese-flagged VLCC en route to Venezuela despite US blockade

Chinese-flagged VLCC Thousand Sunny will arrive near Venezuela in mid-January on its present course.

Another Chinese-flagged VLCC, Xing Ye, is waiting to load in Venezuela and is slow steaming off French Guiana.

Previous US tanker seizures off Venezuela, or attempted seizures, involved two ships with false flags and one ship flagged to Panama, which gave permission.

The real geopolitical test for America’s blockade of Venezuela would come from Chinese-flagged tankers. What would happen if an unsanctioned Chinese-flagged VLCC loaded Venezuelan crude?

THE 2015-built very large crude carrier Thousand Sunny (IMO: 9623269) has been transporting Venezuelan Merey crude to China for a half-decade. It is Chinese-flagged, of unknown ownership, and it is not sanctioned by the US.

It is currently on a direct course to arrive in Venezuela in mid-January, when it would run into the US blockade.

Thousand Sunny was sold by China National Petroleum Corporation (CNPC) in 2020 as part of a series of transactions to facilitate Venezuela-China crude flows. The tanker has been making back-and- forth runs between Jose Terminal, Venezuela and Ningbo, China ever since, according to vessel-position data from Lloyd’s List Intelligence.

US President Donald Trump announced a “total and complete blockade” of Venezuelan oil on December 16. Thousand Sunny has not diverted or slowed down since his declaration.

The Chinese VLCC rounded the Cape of Good Hope in ballast on December 24. As of Monday, it was in the southern Atlantic on course for Venezuela, travelling at a speed of 12.4 knots.

Another Chinese-flagged VLCC, also unsanctioned and formerly owned by CNPC, has already arrived off South America. It is also scheduled to load in Venezuela in January, according to Vortexa data.

The 2014-built Xing Ye (IMO: 9590058), which last loaded crude in Venezuela in August, has made its return ballast trip and is currently slow steaming off French Guiana. This vessel, as with Thousand Sunny, has operated solely in the Venezuela-China trade since its sale by CNPC to an unknown buyer in 2020.

So far, geopolitical fallout from the US blockade of Venezuela has been minimal, given the flag states — or lack thereof — of the affected vessels.

The VLCC Skipper (IMO: 9304667) was falsely flying the Guyanese flag, providing legal recourse for the US Coast Guard to board it in international waters on December 10.

The US seized the vessel — which was on the US sanctions list for its service in Iranian trades — under anti-terrorism laws. It is currently at anchorage off Galveston, laden with a cargo of Venezuelan crude.

The Panama-flagged VLCC Centuries (IMO: 9206310), which was carrying a cargo of Venezuelan crude, was boarded and seized by the US in international waters on December 19. Panama gave its permission.

Centuries was not sanctioned and has not been involved in the Iranian trade. That raises questions on how the US will legally justify taking the ship and its cargo. As of Monday, there were no unsealed legal documents related to the seizure.

Vessel-position data showed that Centuries was in the Gulf of Mexico on Monday en route to an anchorage off Texas.

In addition, the US Coast Guard attempted to board the unladen VLCC Bella 1 (IMO: 9230880) in international waters on December 20, while it was headed to Venezuela. The ship was sanctioned for its service to Hezbollah, and like Skipper, was falsely flagged to Guyana.

Bella 1 refused to be boarded, and as of Monday, there was no confirmation from the US that the vessel had been seized.

Virtually all Venezuelan crude exports go to China, including cargoes that are initially bound for Malaysia.

During an emergency United Nations session on December 24, Sun Lei, China’s deputy permanent representative to the UN, said, “As an independent sovereign state, Venezuela has the right to independently develop mutual cooperation with other countries and defend its

legitimate rights and interests”. He said that US actions “seriously infringe upon other countries’ sovereignty”.

If Thousand Sunny or Xing Ye were to load Merey crude at Jose Terminal, and sail out of Venezuelan waters, would the US enforce the “total and complete” blockade, or let them pass? US actions, in these cases, would bring the geopolitical dimensions to a new level.

Neither Chinese-flagged VLCC has been involved in Iranian trades, and neither is designated by the US Office of Foreign Assets Control.

Thousand Sunny and Xing Ye do not fly a false flag, or have a flag state like Panama that will acquiesce to a US boarding in international waters.

· Shipping faces incidental risks as Taiwan- adjacent drill cycles intensify, analyst says

Near-term risk is disruption, including restrictions, traffic, comms friction and delays, says Ambrey. Coast guard patrols and messaging add uncertainty, including a poster showing an Evergreen-branded ship.

Ship operators should stay flexible: avoid live-fire zones, monitor scope changes, and be ready to reroute. Beijing’s drills surrounding Taiwan are less about closing sea lanes outright than repeatedly injecting uncertainty and delay into one of the world’s busiest commercial shipping corridors.

· Japan eyes major shipyard consolidation to counter China’s dominance

Transport ministry road map targets consolidation into one, two or three major shipbuilding groups by mid-2030’s.

Plan aims to double capacity to 18m gt and cut construction costs by 10%. Phased investment focuses on automation, facility expansion and AI/robotics deployment through 2034.

· America’s 25 Years of Decline

Misgovernment has been the watchword for the first quarter of the 21st century. The first quarter of the 21st century, which ends this week, has been a period of misgovernment and national decline for the U.S. At the conclusion of the 20th century, America’s leadership was uncontested. We had the world’s strongest economy and most powerful military, bolstered by an unequalled system of alliances. Americans from the bottom to the top enjoyed rising real incomes. The federal budget ran a surplus for four consecutive years, from 1998 to 2001. Despite their differences,

the political parties were able to reach agreement on important issues, including on fiscal policy, education, welfare, the environment and protecting Americans with disabilities.

· d’Amico signs up MR1 newbuild deal in

China

Italian product tanker owner d’Amico International Shipping (DIS) has moved to renew its fleet with a fresh newbuilding deal in China, ordering two MR1 units at Guangzhou Shipyard International (GSI).

The company said its operating arm, d’Amico Tankers has signed contracts for a pair of 40,000 dwt vessels at a price of $43.2m each. The ships are scheduled for delivery in April and July 2029. DIS also holds options, exercisable within three months, for up to two additional vessels of the same design.

The newbuilds will join a fleet that currently counts 29 double- hulled product tankers, spanning the MR, handysize and LR1 segments. Of these, 27 are owned and two are on bareboat charter, with the owned and chartered-in fleet averaging about 9.5 years.

Chief executive Carlos di Mottola said the GSI vessels will be the most efficient MR1s in the company’s fleet. He noted that, at design draft, the ships are expected to consume around 4 tonnes per day less fuel than existing eco MR1s, while carrying about 4,000 cu m more cargo.

The vessels will be methanol-ready, certified to burn biofuels, fitted for shore power, and designed with enhanced cyber resilience, he added.

The roughly $86.4m investment follows the sale of DIS’s four oldest vessels over the past two years and forms part of a longer- term fleet renewal plan. Di Mottola pointed to a thin MR1 orderbook, an ageing global fleet, and steady charterer interest as factors supporting the move. The Milan-and OTCQX-listed company also has four LR1 newbuildings booked at Jiangsu New Yangzi Shipbuilding in 2024, and due for delivery in 2027.

· Jinjiang Shipping eyes up to eight boxship newbuilds

Shanghai-listed Jinjiang Shipping has moved to grow its container fleet, unveiling plans to invest up to RMB 1.94bn (about $270m) in a series of Bangkokmax newbuildings.

The Shanghai International Port Group-controlled carrier has approved a proposal to order four 1,800 teu containerships, with options for a further four of the same design. The firm ships are budgeted at around $33.8m each, with the option vessels to be exercised within a set period after signing the contracts.

Jinjiang said the investment fits with its wider strategy and operating needs, with the new ships aimed squarely at Southeast Asian trades. The additional tonnage is expected to support route expansion in the region and fine-tune the company’s capacity mix.

The carrier added that the ships will also strengthen its so-called premium routes, allowing it to roll out its higher-end service model across more Southeast Asian loops. At the same time, Jinjiang is looking to tighten links between Northeast Asia and Southeast Asia, offering customers more routing options while improving efficiency and service levels.

Jinjiang Shipping currently ranks 34th globally, according to Alphaliner, with a fleet of 52 vessels totalling about 59,400 teu, of which 26 are owned. The bangkokmax move follows a recent order for up to four 1,100 teu newbuildings placed at Sumec Marine, underlining the company’s focus on regional feeder and intra-Asia trades. If all options are taken up, the latest plan would mark one of Jinjiang’s largest single newbuilding investments to date.

· FSL extends product tanker cover with James Fisher

FSL said it has extended the charters for the product

tankers Speciality, Seniority and Superiority, with new periods ranging from five months to four years.

At the same time, the parties agreed to remove early termination options on the charters of Shannon Fisher and Solway Fisher, fixing both vessels into employment through 2029.

Taken together, the negotiations add about $12.3m in contracted

future revenue, boosting the trust’s forward income profile.

FSL said the deal reflects its strategy of securing longer-term employment with established counterparties when market conditions allow, in order to provide more stable cash flows.

· Capital Clean Energy Carriers locks in

$770m LNG carrier order in South Korea

Capital Clean Energy Carriers (CCEC) has moved to further bulk up its LNG fleet, placing an order for three newbuildings at HD Hyundai Samho in South Korea. The Nasdaq-listed owner has secured three berths at the yard, with one vessel due for delivery in the third quarter of 2028 and the remaining two scheduled for the first quarter of 2029.

The en-bloc price for the trio stands at $769.5m. CCEC said the ships will feature upgraded specifications and are designed to sit among the most fuel-efficient LNG carriers afloat, with lower fuel consumption and reduced boil-off rates compared with older tonnage.

CCEC currently has 12 LNG carriers on the water and nine on order, with deliveries stretching from the third quarter of 2026 through early 2029.

The company said the delivery window lines up with expected growth in global LNG supply, as liquefaction capacity is forecast to rise from about 493m tonnes per annum today to at least 649m tpa by 2030.

Beyond LNG, the company is also building out a broader gas fleet. CCEC has another 10 gas carriers on order, including four handysized LCO₂/multi-gas vessels and six dual-fuel mid-size gas carriers, with the first units set to deliver from early 2026.

Chief executive Jerry Kalogiratos described the deal as a well-timed move, saying the company had locked in attractive pricing and payment terms for high-spec ships expected to hit the water when LNG shipping demand tightens. “These deliveries are positioned for what we see as the most undersupplied part of the forward curve,” he said.

· Sunken Russian cargo ship sparks nuclear proliferation alarm

Spanish probe links Mediterranean sinking on Christmas Eve 2024 to suspected reactor transfer for North Korean submarines.

Spanish investigators believe a Russian cargo ship that sank off Spain

on Christmas Eve 2024 was carrying nuclear submarine reactor components, raising concerns over nuclear-related military cooperation between Moscow and Pyongyang. The sunken general cargo ship, the 9,500-dwt Ulsa Major (built 2009) was part of Russia’s shadow fleet, often accused by Western governments of evading sanctions and transporting sensitive cargo.

· Moundreas company told to hand over arbitration documents in landmark

judgment

A South African court has delivered a robust reminder that arbitration secrecy has limits, ruling that confidentiality cannot be used as a shield against a court-ordered disclosure.

In a long-running case stemming from the 2013 grounding of a capesize bulker off Richards Bay, a court has ordered a company linked to Greek shipowner Nicholas Moundreas to submit all confidential London arbitration documents and transcripts from London-seated arbitrations. The High Court of KwaZulu-Natal in Durban issued the judgment on 22 December.

· MH370 seabed hunt resumes in remote Indian Ocean with Ocean Infinity vessel

Renewed mission targets unsearched areas using modern sonar capabilities.

A renewed seabed search for Malaysia Airlines flight MH370 has officially begun in the southern Indian Ocean, reviving efforts more than a decade after the aircraft disappeared with 239 people aboard.

Ocean Infinity’s multipurpose offshore support vessel Armada 86 05 (built 2025), has been deployed for the mission and departed Kwinana anchorage near Perth in Western Australia on 23 December, sailing westwards at about 10.5 knots, MarineTraffic said in a LinkedIn post on 30 December.

Jindal to double Raigarh unit output

Jindal Steel announced an expansion plan for doubling the annual manufacturing capacity of structural steel at its Raigarh facility to 2 million tons, from 1.2 mio tonnes per annum to 2.4 MTPA. This is being enhanced to increase the availability of heavy and ultra- heavy structural steel sections. The Company said it will commission a new, dedicated structural steel mill, alongside advanced upstream and downstream technology upgrades.

India surpasses Japan to be the 4^th largest economy said the Government, with a size of $4.18 trillion, and is poised to overtake Germany to become the third largest by 2030. The Government also said, India is also the world’s largest-growing major economy.

India has allowed limited exports of organic sugar in a calibrated move to promote premium agri-exports, while keeping tight control over domestic sugar supplies, subject to a annual ceiling of 50,000 tons. This partially relaxes restrictions imposed in October, 2023, when organic sugar exports were placed under ‘restricted’ category.
Shankh Airlines is set to begin operations in first half of January

with an initial fleet of three Airbus aircraft, focussing on connecting Lucknow with Delhi, Mumbai and other metro cities. The airline will also operate flights to destinations across Uttar Pradesh in its first phase. Two more aircrafts are expected to join the fleet within the next one-and-a-half months.

Shipyards may get land at near Zero cost. Shipyards investing in new building and repair facilities in specified industrial corridors may get land for nearly free, as the Centre looks to encourage the industry in India’s coastal states. Land and common maritime infrastructure may be provided to such shipyards on lease for 60 years that can be extended further, the ports and shipping ministry proposed in greenfield shipbuilding cluster development scheme norms. While a nominal lease rent would be charged, the Centre and States would not include the land cost as part of the lease rent to be received. Global giants from the shipbuilding industry insist on availability of land and associated infrastructure to commit greenfield investments. A greenfield shipyard with about 0.5 mio gross tonnage annual capacity in India would require investment of over Rs.15,000 crores, as per estimates from the Ministry of ports, shipping and waterways.
Saudi Arabia bombs Yemen port, Mukalla on Tuesday, over UAE weapons shipment, that arrived for separatist forces in the war-torn

country, and warned that it viewed Emirati actions as ‘extremely dangerous.

Will 2026 see the end of the War between Ukraine and Russia

waging now for almost 5 years or the attempt to bomb the House of President Putin two days ago, will result in further escalation of the war, hopefully without the EU Countries not falling into the war.

The announcement that President Trump will supply American F-

35’s to Turkey, a State supporting Terrorist activities in Pakistan did not surprise many. The American Armament industry has to survive if all wars end in our world.

With the Hope there will be Peace in the world in 2026, I wish all the Readers, good health, peace, prosperity and Safe Seas in 2026.

Marex Media

The Author

Bansi Jaising

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