REYBANPAC, Ecuador's leading banana producer and second-largest exporter, has recently published its biennial sustainability report for 2022 and 2023. This is the first report under the guidelines of the Global Reporting Initiative (GRI) standard. The new publication details the good environmental and social practices the company implemented under the Sustainable Development Goals (SDGs) during this period.

Lidl GB has introduced a pioneering tool designed to calculate the premium paid to banana workers, ensuring fair compensation aligns with living wage standards. Initially trialled by Lidl Germany, this tool will be implemented across Lidl GB’s banana supply chain starting in September.

Agricultural imports from Vietnam to South Korea have seen a remarkable surge, with a 55% increase in the first half of this year, totalling US$164 million. This growth signifies Vietnam’s expanding role in the global agricultural market, with South Korea emerging as its second-largest agrarian trading partner, just behind China.

Due to weak demand, Banana selling prices in St. Petersburg, depending on brand, volume, quality, and packaging, experienced a noticeable decrease compared to the previous week. The presence of large volumes of local summer fruit available to consumers at competitive prices has impacted banana sales. The lowest prices reported by local traders were USD 10.40 per box CIF, with the main prices hovering around USD 12.05-13.20 per box CIF. Approximately 973,000 boxes were discharged in week 33, and around 1.294 million boxes are expected for week 34. The exchange rate was 1USD = 92.66 RUB. In the Mediterranean, the banana market has been stable, with prices primarily ranging from USD 16.00 to USD 18.00 per box CIF for Ecuadorian bananas. These prices are influenced by brand recognition, volume, packaging, and regional preferences. Libya is an exception, where premium brands of Ecuadorian bananas command higher prices, approximately USD 20.50 to USD 21.00 per box CIF. Central American and Mexican bananas also have distinct pricing tiers in this market, and the paramount price for those origins was around USD 19.0 per box CIF. In Algeria, prices have escalated compared to the previous week, with Ecuadorian bananas quoted between USD 19.50 and USD 20.00 per box CIF.

As reported recently by Ecuadorian media, BanEcuador has announced an initial allocation of $50 million in microcredits to combat the Moko disease, the bacterial infection that affects banana and plantain crops. The maximum amount available per applicant is $150,000, with a maximum financing term of 36 months. This initiative is part of a broader effort by the Committee for the Prevention of Moko and other diseases, which includes the Ministry of Agriculture and Livestock (MAG) and the Agency for Regulation and Phytosanitary and Zoosanitary Control (Agrocalidad).

Mediterranean Shipping Company (MSC) has expanded its fleet with impressive orders for ultra-large container vessels (ULCVs) in China. The recently delivered ULCV, the MSC Tessa, is part of a new class of ULCVs. With a capacity rating of 24,116 TEU, it is currently the largest containership worldwide. Notably, the MSC Tessa incorporates energy-saving technologies, including an air lubrication system and shaft generators, to enhance efficiency and reduce drag. MSC’s new class of ULCVs comprises 14 vessels with similar design features.

Hapag-Lloyd reported a 5% increase in transport volumes, reaching 6.1 million TEU in the first half of 2024, compared to the same period in the previous year. Despite the end of the COVID-19 pandemic significantly changing market conditions, the company’s performance exceeded initial expectations due to higher demand and rising spot rates in Q2 2024. However, these results were still below the previous year’s level.

China Ocean Shipping Company, Limited (COSCO) is gearing up to commence operations at the Port of Guayaquil in November. The goal is to open an export route from Guayaquil to the new port of Chancay (Peru) and, from there, travel directly to Shanghai and Dalian.

Port Santo Tomás de Castilla authorities have announced the resumption of operations following the removal of protestors obstructing access to the container loading and unloading area. For two days, former Empornac employees had blocked access and disrupted container loading and unloading operations. The National Civil Police (PNC) successfully cleared a group of protestors who had been obstructing the entrance to the Empresa Portuaria Nacional Santo Tomás de Castilla (Empornac) since August 6.

On August 14, the Banana Marketing and Export Association (ACORBANEC) enthusiastically announced the launch of the Banana Business Machala 2024 international convention. This event, set to be a milestone, will be held in November and will mark the first time that a trade fair and banana congress of such magnitude takes place in the capital of El Oro.

The maritime sector is witnessing a resurgence in container ship builds. The recent Red Sea crisis has propelled freight and charter rates to unprecedented levels, reminiscent of the pandemic's peak period. June and the first half of July saw the commissioning of 89 ships, totalling 1.2 million Twenty-Foot Equivalent Units (TEUs), marking the highest rate of orders since the pandemic boom.

A.P. Moller Maersk has announced plans to sign new building orders and time-charter contracts for dual-fuel vessels, aiming to match its planned renewal pace of around 160,000 TEUs annually. As disclosed, these orders continue Maersk's fleet renewal program initiated in 2021. The orders will include 50-60 containerships, combining owned and chartered dual-fuel vessels, equaling 800,000 TEU. Approximately 300,000 TEU will be owned capacity, while the remaining 500,000 TEU will be through time-charter agreements.

The world's top two container lines are preparing to go separate ways next year. Mediterranean Shipping Co (MSC) now boasts a fleet exceeding 6 million TEU, commanding a 20% share of the globally operated container fleet. In contrast, Maersk, which held the title of the largest liner in the world until early 2022, is witnessing a significant erosion in its market share as it adheres to a fleet size cap policy introduced under former CEO Soren Skou.

For the third day in a row, the Empresa Portuaria Nacional Santo Tomás de Castilla (Empornac) has faced a blockade that has halted critical operations. A group from Izabal, vocalizing their concerns over the alleged privatization of port services, has steadfastly maintained its position at the port's entrance since Tuesday, August 6.

Aiming to strengthen female participation in the agricultural sector, over 50 women from the provinces of Guayas, El Oro, Santa Elena, Los Ríos, and Santo Domingo de los Tsáchilas gathered for the dissemination of the Public Agricultural Policy for Rural Women (PAMUR). This event, organized by the Ministry of Agriculture and Livestock (MAG) through the Undersecretariat of Peasant Family Agriculture, was attended by women who contributed to the creation of the National Agricultural Strategy for Rural Women (ENAMIR) in the past.