Maersk has now received a response from local authorities in China after several seafarers last week were isolated on ship Gjertrud Maersk with symptoms of covid-19. The results show cases of coronavirus infections, the company tells ShippingWatch.
Sliding demand forces container alliance 2M, which consists of Maersk Line and MSC, to void more than one fifth of its voyages between Asia and Europe as well as Asia and the Mediterranean in the second quarter of 2020, reports Sea-Intelligence.
The coronavirus makes it nearly impossible to predict trade routes, prompting logistics firm DHL to declare the current situation force majeure. This is not yet the case for DSV Panalpina, while Blue Water describes a situation in which "the normal cargo flow is down."
Denmark, Germany and Norway have either shut down their borders or temporarily sealed off access to the countries in other ways in response to the corona outbreak. Large shipping companies are sending employees home.
Maersk accuses the four largest railroad companies in the US of having illegally fixed fuel surcharge prices at "extraordinary meetings, phone calls and e-mails" from 2003 to 2008. The railroad companies reject the accusations.
An Icelandic fisheries group has increased its stake in Eimskip considerably. According to domestic law, the group must now issue an offer to other stakeholders to acquire the remaining shares in the shipping line, which has a market value of USD 211.5 million.
Nordic Transport Group, NTG, is prepared to grow through acquisitions, although no fresh capital was raised at last year's IPO. "It's not as though our acquisition growth will stop," Group CEO Mikkel Fruergaard tells ShippingWatch.
Even though the coronavirus has created a lot of uncertainty about developments in the global economy, CMA CGM Chief Financial Officer Michel Sirat is convinced that Ceva Logistics can become profitable this year, he tells ShippingWatch.
The oil price collapse and the coronavirus give container lines an unexpected edge in their efforts to offload major additional fuel costs with customers. The situation has also put tankers in a favorable position.
The OECD now predicts the worst year for the world economy since the financial crisis. In an update of its growth prognosis, growth in the Euro-zone, China and Japan is significantly downgraded for 2020 as a result of the bill encountered from fighting the coronavirus.