Boeing Largest Cargo Plane Ready for Deliveries – Boeings new 747-8 freighter has completed its certification flights and is expected to be fully certified within weeks. The new plane has a larger cargo capacity than its predecessor as well as being 24% more fuel efficient. According to the Boeing website, the 747 fleet has flown more than 42 billion nautical miles; or, the equivalent of 101,500 round trips from the Earth to the Moon.
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Indian Exports Booming – India’s exports for Q2 increased nearly 46% compared to the same period last year. Furthermore, the government expects that the country’s rapidly growing economy will see its current export values double in a few short years. India’s largest container ports are Jawaharlal Nehru (Nhava Sheva) and Chennai.
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Record Ice Melt Expands Artic Shipping Lanes – Ice is melting in the Artic Sea at near record levels and allowing for ships to navigating shipping lanes without the aid of icebreaker ships. With these lanes open, vessels can significantly reduce transit times from Eastern Europe to Asia as well as other destinations. While advantageous for shippers in the region, many are concerned about other long term effects of climate change.
Read more from Bloomberg.
Russia Close to WTO, But Obstacles Remain – Despite remaining political issues, Russian President Dmitry Medvedev believes his country’s chances of joining the World Trade Organization (WTO) in 2011 are high. Relations with Georgia (a WTO member), which were severed in 2008 amid a brief conflict, are a major hurdle. Russia is the largest country that is not a member of the 153-nation group.
Read more from Reuters.