Unlike containerships operating on fixed schedules tramp vessels will eschew transiting the waterway.
The stark reduction in slots will push many of the tramp vessels (including tankers and dry cargo ships) away from the Canal. This will lead to more ton mile demand and possibly changes in segment utilization as longer hauls may stimulate the use of larger vessels.
A regular direct flight shuttles between Budapest, Hungary's vibrant capital, and Ningbo, China's eastern maritime hub, spanning 5,000 kilometers of geography but bridging continents in trade and investment.
"Hungary is a gateway to Europe for Asian companies, while Hong Kong serves as a gateway to Asia for European companies," Alpha Lau, Director-General of Investment Promotion at InvestHK – a Hong Kong government agency – told our paper at the Guangdong-Hong Kong-Macao Greater Bay Area and Hungary (Europe) Economic and Trade Cooperation Conference in Budapest.
The Hungarian government has signed a strategic cooperation agreement with one of the largest car manufacturers. The agreement with BYD means that future cars will also be manufactured in Hungary, Viktor Orbán emphasised in his speech.