Israel
Israel’s economy: A Banana Republic run by monopolies
Israel increasingly resembles an economy captured by monopolies, where a small circle of powerful interests dominates key sectors and ordinary consumers foot the bill.
The CMA CGM Palais Royal, the world's largest LNG-powered container ship with a capacity of 23,000 TEUs (Twenty-foot Equivalent Units), made an exceptional stop at the port of Beirut on Saturday.
The CMA CGM Palais Royal is the largest LNG-powered container ship in the world
The CMA CGM Palais Royal, the world's largest LNG-powered container ship with a capacity of 23,000 TEUs (Twenty-foot Equivalent Units), made an exceptional stop at the port of Beirut on Saturday, becoming the largest container ship ever to call at this port, as reported by the shipping company in a press release.
Now deployed on the MEX service, the vessel connects North Asia to the Mediterranean after a voyage of approximately 40 days. It will remain in the Lebanese capital until January 1, unloading containers of essential goods, furniture, electronic equipment, and solar panels.
Measuring more than four football fields in length (400 meters) and as tall as a 26-story building (78 meters), the CMA CGM Palais Royal is the largest LNG-powered container ship in the world.
"With the ambition to become Net Zero Carbon by 2050, the CMA CGM Group has invested over $15 billion to renew its fleet and is mobilizing $1.5 billion through PULSE, its Energy Fund, to invest in the development of alternative energies for transport and logistics... In 2023, CMA CGM reduced its carbon emissions by nearly one million tons compared to the previous year," the shipping company explained in its press release.
"The CMA CGM Group once again demonstrates its commitment to Lebanon and honors the commitments made to develop, modernize, and automate the country's two container terminals," said Joseph Dakkak, CMA CGM's General Manager in the Levant, on Saturday.
"This comes at a time when the major logistical corridors of global trade are emerging, connecting Asia to Europe through the Middle East. This is how the CMA CGM Group positions Lebanon at the center of global goods exchanges," he added.
The French container shipping company, Compagnie Maritime d'Affrètement - Compagnie Générale Maritime (CMA CGM), has its global headquarters in Marseille.
Its President and CEO is Rodolphe Saadé, a 53-year-old Franco-Lebanese executive with extensive international experience.
Israel increasingly resembles an economy captured by monopolies, where a small circle of powerful interests dominates key sectors and ordinary consumers foot the bill.
Israeli Defence Minister Israel Katz said on Tuesday that the military would never fully withdraw from the Gaza Strip for security reasons and that a civilian-military army unit would be established in the Palestinian enclave.
Prince Faisal bin Farhan, Foreign Minister of Saudi Arabia, met on Monday with Sayyid Badr bin Hamad Al-Busaidi, FM of Oman, to review bilateral relations and discuss regional and international developments.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.