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Real-time News
On March 5th, five departments, including the Fujian Provincial Department of Industry and Information Technology, recently issued the "Fujian Province Electric Ship Industry Development Action Plan (2026-2028)". The Action Plan proposes that by 2028, a systematic supply capacity for electric ships and core equipment will be established, with an annual manufacturing capacity of 50 electric ships and a cumulative total of 150 electric ships in operation, including 20 electric ships used outside Fujian Province and abroad. Core equipment products will be used on over 1,500 electric ships both domestically and internationally, and the entire electric ship industry chain will reach a scale of 5 billion yuan.The U.S. agent, SONANGOL MARINE SERVICES, stated that the Bahamian-flagged oil tanker SONANGOL NAMIBE suffered an explosion while anchored near the Iraqi port of Khorzuber, and the ship is likely to have been damaged.March 5th - According to Sky News Arab Channel, Irans Deputy Foreign Minister stated, "Iran is prepared to abandon its nuclear program if the United States can provide a satisfactory alternative." Yesterday, reports surfaced that Iran had been secretly contacting the United States to reach an agreement and end the conflict, but Iran subsequently denied these reports as false. In short, these are clear signs of de-escalation. Following the Deputy Foreign Ministers comments, the market reacted positively, with US stock index futures jumping, while the dollar and oil prices fell.March 5th - The Swiss franc rose, supported by its safe-haven status, as the Middle East conflict triggered a new wave of widespread risk aversion. Better-than-expected Swiss inflation data on Wednesday also boosted the franc, reducing the likelihood of the Swiss National Bank (SNB) cutting interest rates into negative territory. However, Michael Pfister of Commerzbank stated in a report that given the Middle East conflict and the SNBs indicated increased willingness to intervene in the foreign exchange market, the francs gains may be limited. The next step is likely to be more aggressive intervention.Italian Foreign Minister: The government is prepared to intervene to mitigate the economic impact of the Iranian crisis.
