Our main headlines. Dramatic scenes at the california campus after police in los angeles moving to remove pro palestinian protest camp. Dozens of students have been detained after hundreds of officers descended on the camp. Violent protest is not protected. Peaceful processes. Its against the law when violence occurs, destroying property is not a peaceful protest. Its against the law. figs property is not a peaceful protest. Its against the law. Its against the law. As india prepares its against the law. As india prepares to its against the law. As india prepares to head its against the law. As india prepares to head to its against the law. As india prepares to head to the its against the law. As india | prepares to head to the polls its against the law. As india prepares to head to the polls we look at how people are rejecting political rhetoric in favour of religious tolerance. And recreating a face from the past, meet the woman who lived 75,000 years ago. All of thatis who lived 75
Maersk could continue till the end of the year. It is a big fall from the this time last year. It has raised its expectations for the year. It expects a loss of over 2 billion. That is not as bad as expected. It is now having to sail a longer route. It having to go around africa instead of crossing the red sea. Before the yemeni based militants started to disrupt world trade, a huge amount of the trade was Container Shipping. Letters talk to simon heaney. Thank you for being with us. Remind us how important that Shipping Route is for global trade. It that Shipping Route is for global trade. That Shipping Route is for global trade. ,. ,. ,;; f that Shipping Route is for global trade. ,. ,. , ;; ,. , trade. It is pivotal. It is 3096 of all container trade. It is pivotal. It is 3096 of all Container Cargo trade. It is pivotal. It is 3096 of all Container Cargo would trade. It is pivotal. It is 3096 of all Container Cargo would go i trade. It is pivotal. It is 3096 of all Container Cargo w
and jeremy, let me end on this. you and i have spoken before over the past few years about the whole supply chain chaos and how that sent the transportation costs through the roof. but eventually they came down. and now some in your industry say the prices have come down so much, it s just not sustainable. is that your view? well, i think certainly there s two factors there. one is that there s no doubt that the supply and demand squeeze was very tight during 2021 to 2022, and we saw freight rates much higher than the normal industry average. we ve had a rebalancing in 2023 due to an inventory overhang, so the sales to inventory ratios have been quite high. our customers are gradually burning through those inventories and will start their reordering cycles quite soon. and when that happens, some of the spot market rates will start to move up again. but the area that probably, you know, is the most important longer term is that as and when we move to these green fuels, it will be unsust
time to those products. so in some cases, probably adding two or three times the cost of conventionally moving it with a point to point or port to port container shipping operation. and jeremy, let me end on this. you and i have spoken before over the past few years about the whole supply chain chaos and how that sent the transportation costs through the roof. but eventually they came down. and now some in your industry say the prices have come down so much, it s just not sustainable. is that your view? well, i think certainly there s two factors there. one is that there s no doubt that the supply and demand squeeze was very tight during 2021 to 2022, and we saw freight rates much higher than the normal industry average. we ve had a rebalancing in 2023 due to an inventory overhang, so the sales to inventory ratios have been quite high. our customers are gradually burning through those inventories and we ll start their reordering cycles quite soon. and when that happens, some of the spo
we ve had a rebalancing in 2023 due to an inventory overhang, so the sales to inventory ratios have been quite high. our customers are gradually burning through those inventories and we ll start their reordering cycles quite soon. and when that happens, some of the spot market rates will start to move up again. but the area that probably, you know, is the most important longer term is that as and when we move to these green fuels, it will be unsustainable to be able to operate the ships at the same freight rates as we do today when the fuel costs are 200% to 300% more. so we will need to move the freight rates up in line with those higher fuel costs because of the green fuels. but i think if we do that in a transparent way and we do that in a clear way, customers will understand that and everybody can understand that the cost is more, and we can be transparent and we could pass that on down through the supply chain to make sure that all the products that we buy in the future as consume