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June 13, 2022 Economic and Trade Consulting

2022-06-13


1.    U.S. CPI rose 8.6% year-on-year, a 40-year high
A fewer day ago, the U.S. Department of Labor released data showing that the U.S. consumer price rose 1.0% month-on-month in May and 8.6% year-on-year, the highest year-on-year increase in 40 years. Several economists have warned that the United States may face a prolonged period of high inflation. With the Federal Reserve embarking on a rate hike cycle to tackle inflation, there are fears that aggressive rate hikes could trigger a recession.


2.    Vietnam and Italy agree on trade cooperation plan
Recently, Vietnam and Italy held the seventh meeting of the Joint Economic Cooperation Committee. The meeting reviewed the main content of economic and trade cooperation, and exchanged view on the obstacles faced in the implementation of the Vietnam-EU Free Trade Agreement, aiming to promote the development of economic cooperation between the two countries to a new level.


3.    South Korea’s ranking first in new ship orders account for 48% of the world
Global orders for new ships stood at 2.5 million revised gross tons (57 ships) in May, according to data released by Clarksons, a UK-based shipbuilding and maritime industry analyst. Among them, South Korea received 1.2 million revised gross tons (20 ships), leading the world with 48%.


4.    MSC: Pertiwi to launch in July
Recently, Mediterranean Shipping(MSC) announced that it will launch a new Pertiwi service for Asian trade in early July, directly connecting northern China with South Korea and Southeast Asia, providing customers with “shorter transit times and more service products.”
 

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