Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, according to the World Bank’s latest Commodity Markets Outlook. Even so, overall commodity prices will remain 30% higher than they were in the five years before the COVID-19 pandemic.

SOUTH AFRICA: The annual event aimed at showcasing South Africa’s boatbuilding prowess closed yesterday after a full programme of events that sought to attract local marine enthusiasts and promote increased interaction with ocean activities.

The latest Review of Maritime Transport released last week highlights several bright spots across Africa’s shipping sector with port calls by container increasing by 20% between 2018 and the first half of 2023.

SOUTH AFRICA: Representing an investment of some R150 million, Balancell officially opened their new state-of-the-art Gigafactory in Ndabeni, Cape Town with a ribbon-cutting ceremony by Deputy Minister of Trade Industry and Competition Andrew Whitfield.

REPUBLIC OF CONGO: Illegal fishing, inadequate management frameworks, and a lack of cooperation among national agencies continue to thwart sustainable fisheries governance in the Gulf of Guinea, but a training workshop held this week aimed to enhance the capabilities of environmental officials.

SOUTH AFRICA: EnviroServ has been recognised for its impactful environmental initiatives at the Chemicals and Allied Industries Association (CAIA)’s Responsible Care Awards, held yesterday including their partnership with Zwartkops Conservancy to protect the Swartkops Estuary.

Meeting at a symposium in Cape Town this month, African navies have established a technical working group to investigate the conceptualisation of the Combined Exclusive Maritime Zone of Africa (CEMZA) as envisioned in the African Integrated Maritime Strategy 2050 (AIMS 2050).

SOUTH AFRICA: Turnaround strategies at the Port of Cape Town are not moving fast enough for the agricultural sector in the Western Cape as the apple and pear industry records an estimated R999 million loss annually due to inefficiencies in the port.