International Container Terminal Services, Inc. has handled slightly higher throughput of 2.5m teu in the first quarter, up 1% year-on-year, as volumes were capped by the decline in trade activities due to the coronavirus (COVID-19) pandemic.
The novel coronavirus (COVID-19) pandemic will lead to a contraction in the shipping container fleet and keep prices and lease rates under pressure in 2020, according to analyst Drewry.
Yangzijiang Shipbuilding has secured new orders for seven vessels with a total contract value of $360m during the first quarter of 2020, as the shipbuilding starts catching up on lost production time due to the coronavirus (COVID-19) outbreak.
The Maritime and Port Authority of Singapore (MPA) has announced a MaritimeSG Together Package to provide financial support to the maritime industry amid the global coronavirus (COVID-19) outbreak.
Keppel Offshore and Marine (Keppel O&M) has affirmed that all of its yards will remain occupied with jobs for the next two years on the back of a sizeable orderbook.
The South Korean government has pledged a hefty KRW1.25trn ($1bn) to support the country’s ailing shipping industry severely impacted by the coronavirus (COVID-19) outbreak.