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Commodity and container shipping impacted by coronavirus

The coronavirus outbreak is seriously affecting the container and commodity industries as many shipping lines re-route their cargoes and reduce calls to Chinese ports, setting the scene for months of delivery delays ahead, Reuters reports.

DP World sees 2019 growth despite trade war

DP World reported its 2019 TEUs commenting that despite the challenges arising from the US-China trade war and regional geopolitics, their portfolio saw a development representing their resilience. DP World handled 71.2 million TEUs (twenty-foot equivalent units) across its global portfolio of container terminals in 2019, with gross container volumes flat year-on-year on a reported basis and up 1.0% on a like-for-like basis.

S. Korea reveals US$690M package to modernize aging ships

Yonhap reports that South Korea recently unveiled a financial package worth 820 billion won (US$690 million) with the aim to help modernize aging passenger boats and cargo vessels. The move is part of South Korea’s efforts to strengthen maritime safety and boost the economy. It is said that the package in particular is meant to help smaller shipping companies build 59 new ships; of them 21 will be passenger boats and the other 38 will be cargo vessels.

Vinalines aims to enter the Global Shipping Alliances

Vietnam National Shipping Lines Corporation (Vinalines) expressed its interest on joining the Global Shipping Alliances (GSA). Specifically, the company will improve its competitiveness by tending its focus on three vital sectors: the development of its port management, shipping, and the maritime services.

Iran, Syria sign agreement for ports and maritime cooperation

During the Iran-Syria Joint Committee on Port and Maritime Cooperation, Mohammed Rastad, the managing Director of PMO and the Syrian Deputy Minister of Maritime Transport agreed to consider maritime cooperation development, maritime training between the two countries.

IMO SDC 7: Ship stability criteria to be finalized

As the advanced computer technology enables “second generation” intact stability criteria to be further developed, IMO’s Sub-Committee on Ship Design and Construction (SDC 7) meeting during 3-7 February, is expected to complete a comprehensive set of interim guidelines focused on this matter at hand.

Port of Rotterdam prepared for Brexit’s consequences

Following UK’s exit from the European Union on 31 January 2020, Port of Rotterdam expressed its concerns about its trade relationship with the UK. Depending on the terms agreed, the free trade will bring new formalities, tariffs, quality regulations and environmental standards.

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