February 27th, 20200The China Shipowners Association (CSA) has called for a suspension of the International Maritime Organization's (IMO) global sulphur cap in local waters as the country's shipping and logistics supply chain struggles to cope amid the outbreak of coronavirus. In a letter sent by CSA to the State Council in Beijing, seen by Splash, CSA...
February 26th, 20200The coronavirus has set a new record for the amount of inactive container tonnage around the world, smashing the huge volumes of idled boxships seen at anchorages in the wake of the global financial crisis or in the months after the collapse of Hanjin Shipping in 2016. Data from Alphaliner shows as of nine days ago the idled liner...
February 24th, 20202The coronavirus is set to wipe a “chilling” 1.7m teu of container business, according to new research from Copenhagen-based Sea-Intelligence. Using what the consultancy admits as a “very rough” average of $1,000 per teu in freight rates, the Wuhan-originated illness translates into a $1.7bn shortfall in revenues for...
February 19th, 20201More than one in two carrier departures from Asia to North Europe are being cancelled in the wake of the coronavirus that has hammered China, the world’s manufacturing centre, very hard since the start of the year. Analysts at Alphaliner have counted 33 cancelled sailings on the tradelane with the largest boxships in the world in...
February 19th, 20200In the second part of his analysis, Dr Adam Kent, managing director, MSI examines the risks to the container market posed by the virus. The impact of the coronavirus on the Chinese economy has already been severe and the scenarios for shipping range from a quick resolution to a long drawn out impact. In modelling the likely effects,...
February 18th, 20200In the first of a two-part analysis on the impact of the coronavirus, Dr Adam Kent, managing director, MSI looks at the dry bulk and tanker sectors. The impact of the coronavirus on the Chinese economy has already been severe and the scenarios for shipping range from a quick resolution to a long drawn out impact. In modelling the...
February 17th, 20200Citing growing supply chain issues caused by the coronavirus in China, Japanese liner Ocean Network Express (ONE) is instituting a $1,000 congestion surcharge for reefer boxes arriving into Shanghai and Tianjin. The ONE news follows hot on the heels of France's CMA CGM enacting a similar charge. In a note to clients, ONE stated:...
February 13th, 20200The orderbook for world shipping will likely be shunted backwards in the wake of the coronavirus while more than 200 vessels at repair yards in China are set to be redelivered later than planned. A hefty 69% of the Chinese shipbuilding orderbook is meant to be delivered this year, a figure that is now expected to slide considerably...
February 12th, 20206One of the less reported side effects hitting global supply chains in the wake of the coronavirus emanating from China surrounds crew changes with thousands of exasperated seafarers unable to get home on time and crew travel desks working overtime to get crew to ships in different locations. Ships are having to deviate course to change...
February 11th, 20200Oil demand destruction from the coronavirus outbreak has sent prompt crude prices lower and flipped the crude market into contango, with researchers at Braemar ACM noting a subsequent pick up in demand for floating storage vessel hires for the first time since the middle of last year. “A contango in crude prices supports long-haul...
