Coronavirus Impact

More Than 1.67m teu of Export Capacity Worth $1.5bn Withdrawn from China!

  • Carriers have pulled 1.67m teu of capacity out of China, costing $1.5bn.
  • Manufacturers worldwide face lengthy shutdowns due to a lack of vital components.
  • A near standstill production and container transport due to the coronavirus outbreak, has caused planned blank sailings and a mass of last-minute cancellations. 
  • 33 sailings from Asia to North Europe have been withdrawn in the past four weeks.
  • Capacity withdrawn on the trade lane will be around 700,000 teu over the eight-week period...

http://mfame.guru/more-than-1-67m-teu-of-export-capacity-worth-1-5bn-withdrawn-from-china/

No New Coronavirus Outbreak Expected As Virus Follows V-shaped Recovery

  • Maersk expects a V-shaped trajectory for coronavirus just like SARS
  • it forecasts no new outbreaks will occur and no new cases outside China will happen as the markets regain status.
  • IMO 2020 switch has been successful with some fuel volatility initially.
  • However, spot rates and freight rates show we are in a good time.

As the coronavirus outbreak peaks, its impact on global trade, including shipping is becoming clearer. Several shipping companies and agencies are estimating their earnings...

https://mfame.guru/no-new-coronavirus-outbreak-expected-as-virus-follows-v-shaped-recovery/

1.7 Million teu Shipping Volume Affected As Coronavirus Ripple Effect Engulfs Asia!

  • Supply chains are adversely hit as coronavirus outbreak is reaching new territories.
  • The effect of the virus shut down is now felt with more than 1.7 million teu shipping volume are in jeopardy.
  • With carriers blanking sailings, it’s becoming impossible to retrieve empty containers.
  • Shipping schedules are up for a toss as more ports announce bans and restrictions.

According to an article written by LoadStar’s Gavin van Marle  the real impact of the coronavirus outbreak is now coming into the...

http://mfame.guru/1-7-million-teu-shipping-volume-affected-as-coronavirus-ripple-effect-engulfs-asia/

China To Revert Sulphur Cap Implementation To Counter Coronavirus Impact!

  • China may delay 2020 implementation in order to counter coronavirus impact
  • Chinese shipping association calls for this technical adjustment for a few months
  • Not all are convinced as the government fears the country may lose face at the global forum
  • China’s LSFO advantage can be affected by this.
  • Major Chinese oil giants fear that they will lose the LSFO demand race.
  • The final decision on sulphur cap and other measures like tax cuts and subsidies will be taken by next week.
According to an...

https://mfame.guru/china-to-revert-sulphur-cap-implementation-to-counter-coronavirus-impact/

Maersk CEO Forecasts Strong Market Rebound As Coronavirus Outbreak Peaks!

Images to show on the screens at NorShipping. Images have been edited for use in bigger landscape and in PPT size. This image is used in the Oceanic Awakening campaign.

In a major development, Maersk CEO has forecasted a massive rebound in the next 2 months as the coronavirus outbreak peaks, reports Safety4Sea.

The company is ready for this rebound and has positioned itself to brace it, says CEO, Soren Skou

What is it?

Maersk’s CEO, Soren Skou, during an interview with Bloomberg Television’s...

https://mfame.guru/maersk-ceo-forecasts-strong-market-rebound-as-coronavirus-outbreak-peaks/

Carriers Abandon Reefers As Coronavirus Port Congestion Escalates

  • Carriers changing transport plans and levying surcharges to tackle port congestion arising due to Coronavirus.
  • Some are dumping reefers at other ports.
  • Insurers are worried over claims as most reefer containers carry perishable items. 

With the Coronavirus outbreak causing delays at Ports many carriers are taking the surcharge route to evade congestion, reports Mike Wackett for the Loadstar. 

The latest to join this league is the Japanese carrier ONE who has imposed a congestion surcharge on...

http://mfame.guru/carriers-abandon-reefers-as-coronavirus-port-congestion-escalates/

Coronavirus Impact Spreads! Disruption Starting To Spread To Neighboring Economies!

  • Trade market is passing through a period of disruption forced by the coronavirus outbreak, affecting physical supply chains.
  • Outbreak has a negative impact upon exports coming from China to the U.S. and Europe.
  • The signs indicate a major dislocation in global supply chains and commodity trade, with situation expected to get worse for some products.
  • The disruption to the 90% trade transported through the sea is expected to impose a drop in imports at U.S. retail container ports during February.

http://mfame.guru/coronavirus-impact-spreads-disruption-starting-to-spread-to-neighboring-economies/

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