Container streams struck by coronavirus
In its Sunday Spotlight 449, the Copenhagen (Denmark)-based maritime consultancy and analyst Sea-Intelligence pointed out "the rapid escalation in blank sailings" and further consequences that the coronavirus has for the global container market.
Since export production in Chinese plants is going down due to extended quarantine closings, Sea Intelligence CEO Alan Murphy emphasised that "within a short span of time, carriers have blanked an additional 31 sailings across Transpacific (21) and Asia-Europe (10)."
The estimated cost of these measures amounts to USD 300-350 million for the carriers per week. Moreover, these cancellations complement the cut of 61 sailings which had already been blanked due to the Chinese New Year.
Quarantine places restrictions on crews and visitors from China in international ports and reduces manpower in Chinese ports, which will take their toll in due course and distort container handling and crew changes.
Murphy's message: "Cargo owners – including those not exporting from China - need to take stock of the situation and prepare contingency plans." (mw)