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Mass effect alliance marine
Mass effect alliance marine





Mid-February data from market intelligence service VesselsValue showed a radical drop in demand for Chinese crude tankers from an average of 3.4 billion tonne miles per day in 2019 to almost zero. “It is not surprising but still massive it’s the sharpest deterioration since our survey started almost 16 years ago.” “Exports from mainland China have dropped significantly in February 2020 as the Purchasing Managers Index compiled by IHS Markit dropped from 51.1 in January to 40.3 in February,” he says. In addition, Chinese shipping was hit by a nationwide ban on all non-essential travel, a largely reduced workforce and the closure of production and shipbuilding facilities.Īs BIMCO’s Peter Sand puts it, “coronavirus caused demand to fall lower, and remain at lower levels for much longer than in a usual year for many in the industry it became about prolonging their measures for dealing with CNY, which were already in place, with little other options to deal with the blow.”Īccording to figures from Chinese think-tank the Shanghai International Shipping Institute, this led to reduced capacity utilisation – which fell between 20% and 50% at the biggest Chinese ports – and a sharp increase in the use of port storage facilities.ĭespite Asia’s prolonged struggles, it wasn’t until February that the global shipping sector started to really feel the impact of the Covid-19 pandemic.Īs IHS Markit principal consultant Daejin Lee explains, shutdowns and limited activity further led to labour shortages across Chinese maritime segments, which in turn affected trade. Asian ports in countries including South Korea, Taiwan and Singapore also started introducing screening procedures at their hubs, putting Chinese crews under quarantine and working to limit the spread of the virus.įrom the very beginning, these initiatives caused significant setbacks for both the cruise and shipping sectors, which found themselves dealing with orders and trips cancellations, spikes in costs and a drop in trade opportunities. After a passenger tested positive for Covid-19 onboard a Princess Cruises ship off the coast of Japan, ports started limiting – and eventually banning – cruise traffic at their terminals. The situation largely deteriorated as January passed by and the CNY holidays were extended.

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“Coronavirus caused demand to fall lower, and remain at lower levels for much longer than in a usual year.”







Mass effect alliance marine