Covid pandemic wiped 24.6 million TEUs off container market growth

“Due to the Covid-19 pandemic, the global container market grew only 1.5% from 171
million TEU in 2019 to 173.5 million TEU in 2023. Without the pandemic, that figure would
have been 24.6 million higher, landing at 198.1 million in 2023,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.

During the past four years, the container market has faced not only lower-than-expected
growth in the global economy, but the ratio of market growth vs economic growth, the so-
called GDP multiplier, was...

Red Sea crisis milder than Covid-19, challenges to be seen in 2025

The impact of the Red Sea crisis is less severe than Covid-19, although the TEU-mile boost has been significant.

Clarksons’ latest Container Intelligence Monthly stated that compared with December 2023, TEU-miles have gone up by around 11%, as around 620 ships of 8.5 million TEUs are rerouting from the Suez Canal to the Cape of Good Hope to avoid attacks from Houthi rebels.

Contextualised against Covid-19, where surging e-commerce sales and heightened inspections caused logistical bottlenecks...

Maersk had more cash than it knew what to do with — but not anymore

Last week, Maersk management announced that the company was suspending its share buyback program and cutting its dividend by 88%, signaling the end of an era when managing and deploying an enormous excess of capital was the top concern for the shipping line’s executive team. Maersk’s stock price dropped by approximately 16%. Now that the company’s pandemic-era bonanza is well and truly over, it’s time to take a retrospective look at how Maersk invested its cash when profits were pouring in by...

Manchester Surgeon Accused of Hoaxing Covid-19 Expelled

Credit : BBC

Manchester surgeon who claimed Covid-19 was a hoax is struck-off, highlights a BBC news source.

UK coronavirus victim

A surgeon, who worked at a hospital where the third UK coronavirus victim died, has been struck-off for claiming the virus was a hoax.

The Medical Practitioners Tribunal ruled that Mr Muhammad Adil undermined public health and public confidence in the medical profession.

Mr Muhammad Adil, who also posted anti-vaccination comments online, had worked at North Manchester...

Cargo Ship Lifeboat Market ,Competitive landscape And Forecast to 2029

Credits: Fred/ Pexels

Global Info Research announces the release of the report “Global Cargo Ship Lifeboat Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”, says an article published on Openpr.

Company profiles and product examples

The report is a detailed and comprehensive analysis presented by region and country, type and application. As the market is constantly changing, the report explores the competition, supply and demand trends, as well as key factors that...

Port of Geraldton cancels suite of anti-COVID measures

Pictured: a conceptual representation of different variants of the SARS-CoV-2 virus, which causes the COVID-19 disease. Graphic: colour modified by Shipping Australia of the original provided by the U.S. Centers for Disease Control and Prevention.

Several maritime-related rules to combat COVID have been cancelled at the Port of Geraldton, according to a new Harbour Master Instruction from Mid West Ports.

The Instruction noted that vaccinations have occurred on a global scale, that a “high” level...

Embracing Port Call Digitalisation

Credit: Stolt Tankers

At a recent joint symposium organised with the International Association of Ports and Harbors (IAPH) and BIMCO, and hosted by International Maritime Organization (IMO) to mark one year until it is mandatory for ports, says an article published on Porttechnology.

Electronic exchange of information

In Member States to operate Maritime Single Windows (MSWs) for the electronic exchange of information, a senior development official commented: “Given the importance, one is a little...

Due To Covid Limitations, Sinopec’s 2022 Net Profit Declines By 6.9%

Credit: Pixabay/Pexels

Sinopec Corp., commonly known as China Petroleum & Chemical Corp. (600028.SS), reported a 6.9% fall in net income for 2022 as a result of Beijing’s COVID-19 control measures and a decline in petrochemical consumption, as reported by Reuters.

Sales tumbled 

According to Chinese accounting norms, net profit last year was 66.3 billion yuan ($9.65 billion), down from 71.21 billion yuan in 2021, the largest Asian oil refiner reported in a stock exchange filing on Sunday.


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