Latest industry related news items
China's port volumes in January hold up despite coronavirus outbreak
THE coronavirus did not have a major impact on volumes for Chinese ports in January, with the northern port group of Shandong reporting 121 million tonnes of cargo throughput and 2.58 million TEU last month, an increase of 6.3 per cent and 6.4 per cent year on year, reported Seatrade Maritime News. February will of course be different.
TT Club warns of unforeseen liabilities from shipment delays from coronavirus
INTERNATIONAL transport and logistics industry's leading provider of insurance, TT Club has warned transport operators of the potential unforeseen exposure to liabilities that may accrue from shipment delays arising from the coronavirus outbreak in China.
Coronavirus could dampen 2020 box volume growth by 0.7%
Alphaliner estimates that the extended Chinese Lunar New Year holidays, an ad hoc emergency measure to curb the spread of the highly - infectious coronavirus, will reduce container cargo volumes at Chinese ports (including Hong Kong) by over 6M TEUs in the first quarter of 2020. This volume contraction is expected to reduce global container throughput growth by at least 0.7% for the full year.
Coronavirus Outbreak to Effect Sailings and Supply Chains
Ocean carriers are preparing to idle more ships in Asia as the ripples from the coronavirus outbreak in China hit production. But for ships that do sail, container spot rates are likely to spike dramatically, and remain high until the pent-up demand from frustrated orders is satisfied.