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LA chief applauds peace moves but there is a long way to go

The peace treaty signed between the US and Iran on 19 June was encouraging for trade but it will be a long time before world shipping returns to normality, Port of Los Angeles executive director Gene Seroka told a media briefing on 16 June. He said that while reopening of the Strait of Hormuz would ease world energy prices and allow shipping movements through the region to resume, “we have to ... [+]