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coronavirus

Global prices rise

Russia plans to raise wheat export tax from March 1

Moscow - Russia, one of the world's largest wheat exporters, plans to impose a higher export tax on wheat from March 1, its economy minister said on Friday, in another push to curb a rise in domestic food prices triggered by the COVID-19 crisis. Wheat prices in Chicago and Paris jumped after the proposal, which the Russian government has yet to sign

But concerns over vaccine hesitancy

EU eyes 'Vaxproof' document to revive travel

Brussels - The European Commission is working on a vaccine certificate, dubbed 'Vaxproof', that could help restore cross-border travel, EU officials said, but the plan is dividing EU nations. The issue has been discussed for months but has led to no compromise because of fears over vaccine hesitancy and privacy. The EU executive Commission is working on a system for mutual recognition in all 27 EU countries of a certificate proving the holder has been vaccinated

New service

ZIM to meet eCommerce boom with record US-China service

Haifa - Container shipping line ZIM has launched a dedicated service from South China to Los Angeles US West Coast – Speedy ZIM eCommerce Xpress (ZEX) to cater for the increasing needs of eCommerce customers. In a statement, the carrier said the emphasis on eCommerce was particularly relevant during the COVID-19 pandemic

Coronavirus

Virgin Voyages cancels cruises through October 15

Miami - Virgin Voyages, the new adults only cruise line that was originally scheduled to debut this spring, will now sail its first cruise on October 16, 2020. Virgin Voyages has canceled all cruises through October 15, 2020. The cruise line has also rescheduled the Richard’s Birthday Bash sailing for July 14th, 2021

The Covid 19 effect

Alang, 70% of the workforce at home

Dubai - There has been a slow and cautious easing of restrictions in ship recycling sectors across the Indian subcontinent markets as certain yards get back to work in Alang and a few vessels waiting for special permissions in Bangladesh have finally been allowed to beach this week.

Statistics

Port of Piraeus sees marginal container volume growth in Q1

Piraeus - Greece’s largest port – Piraeus – saw marginal increase in the number of containers handled in the first quarter of 2020. Despite the great decline in international trade due to COVID-19, Piraeus managed to marginally increase the number of containers handled on an annual basis

The international fair

SMM falls victim to COVID-19, postponed to 2021

Hamburg will be much less busy this September after it was announced that SMM, the leading international maritime trade fair, has been postponed to 2-5 February 2021 in response to the coronavirus pandemic and its global impact

The Covid-19 effects

Moody's expects poor GDP numbers for the first quarter / ANALYSIS

London - Preliminary first -quarter GDP estimates for several euro zone member countries and for the currency area itself will make the coming week extremely busy. We expect the numbers to be awful. Whole swaths of the European economies were forced to shut down in March owing to the COVID -19 crisis

Coronavirus

Airlines, shipowners warn of trade delays if seamen can’t travel

Geneva - The International Air Transport Association (IATA) and the International Chamber of Shipping (ICS) said governments should facilitate the movement of international transport personnel who have been affected by travel restrictions due to the coronavirus disease 2019 (COVID-19) pandemic

Coronavirus

EU shipbuilders predict cruise ship order cancellations

Bruxelles - European shipbuilding and ship equipment association SEA Europe is calling for government aid to help the industry weather the COVID-19 downturn, citing temporary shutdowns, order cancellations - particularly for new cruise ships - and project delays

As Covid-19 situation worsens

Cargo owners must expect further major ocean freight service disruptions this year

London - Cargo owners should expect significant further ocean freight service disruptions this year with more blank sailings and likely service suspensions, Drewry highlighted yesterday, as volatility linked to the coronavirus pandemic continues or worsens. The container shipping analyst also suggested that shippers “should consider adding a few ‘backup carriers’"

Coronavirus effect

Carnival warns of loss, moves to shore up liquidity

Miami - Carnival Corp., the largest player in a cruise industry reeling from the effects of the coronavirus, said it expects a loss this fiscal year and is taking steps to improve liquidity. The efforts include cutting investments and expenses and looking for additional financing, Carnival said in a statement Monday

BIMCO

COVID-19 and its consequences on shipbuilding contracts

Copenhagen - Shipyards are facing disruption to newbuilding, repair and conversion projects due to the impact of the virus on their labour force and the ability of their subcontractors to meet their commitments to supply materials and equipment necessary for the completion of such projects