The quickly spreading Delta variant may postpone the prospects of an improved tanker market, analysts tell ShippingWatch, while pointing to the carriers they believe will manage best during the downturn.
The explosion in freight rates and historic shortage of capacity have a notable impact on global toy companies Mattel and Hasbro, the manufacturers of Barbie and Peppa Pig. Price increases and new production set-ups are among the responses.
Freight volumes have returned to pre-pandemic levels at six out of seven carriers, according to a survey from Alphaliner. Delays and bottlenecks in container traffic are ongoing due to problems related to Covid-19.
As global vaccinations of seafarers move too slowly, Covid-19 outbreaks in ports and on ships continue to create trade disruptions, endangering maritime workers and potentially slowing economies trying to pull out of pandemic slowdowns. "It's a perfect storm," says Chair of the International Chamber of Shipping.
The dire crew change crisis that has been the harsh reality for seafarers globally since the beginning of the Covid-19 pandemic shows no signs of improvement, shows this month's indicator from the Neptune Declaration.
Trade union ITF is serving a broad side to the shipping industry on Day of the Seafarer. The day becomes meaningless when thousands of seafarers are trapped on ships due to Covid-19 restrictions, ITF argues.
Nine unions representing Argentine port workers have announced a 24-hour strike in protest against the lack of access to coronavirus vaccines. The strike takes place amidst a new coronavirus outbreak in the country, which is a major dry bulk exporter.
The shutdown in critical port Greater China Yantian has sparked a shortage of empty 40-feet containers, while the line of vessels waiting off the port is growing despite partial reopening of the western port, writes Maersk.
Major disruptions in container traffic following new restrictions in South Chinese ports as a result of a Covid-19 outbreak has send freight rates to new heights, as indicated by the FBX Baltic Container Index, says shipping analyst Lars Jensen.
The challenges for container traffic in Chinese ports are mounting as the Covid-19 outbreak continues to spread. The number of vessels either waiting to enter the ports or being rerouted is growing fast.
The Covid-19 outbreak in South China and major port terminal Yantian is causing more problems and delays in an already heated container market, which "significantly increases" the risk of capacity issues into 2022, says analyst Lars Jensen.
The global merchant fleet could fall short of a record number of naval officers in coming years. The global fleet is growing, while a career at sea has become less attractive, assesses Drewry, while pointing to effects of the Covid-19 pandemic.
The overheated container market, marked by enormous demand and resulting bottlenecks and capacity shortages, could make it harder for many countries to revive growth after the prolonged Covid-19 lockdowns, according to shippers of Global Shippers' Forum.
The number of seafarers stranded aboard vessels well beyond the term stated in their contract has increased in the past month, primarily due to a surge in Covid-19 cases in, among other countries, India and Pakistan, writes Neptune Declaration in an update.
Since the Covid-19 pandemic erupted, Norwegian insurance company Gard has received 1,000 claims from complications related to infections aboard vessels. The annual results for 2020 were saved by the stock market and fewer major claims in the second half of the year, the CEO tells ShippingWatch.
Seafarers from two Torm ships will be vaccinated against Covid-19 today and tomorrow under a new US vaccination program. CEO Jacob Meldgaard, who also chairs Danish Shipping, urges other countries to follow suit. "This is really important for seafarers," he tells ShippingWatch. Anglo-Eastern has also accepted the vaccine program.
As soon as consumption, bottlenecks and container shortages subside, companies will have to rebuild inventories. This could be the reason why Maersk estimates market expectations all the way until the fourth quarter, assesses SEB. Scan Global criticizes the high freight rates.