1.Diminished trade as a result of the coronavirus outbreak is costing container shipping lines $350 million a week in lost volumes, a new report says.

2.As fate of quarantined passengers and crew debated, 39 more cases confirmed.The total number of novel coronavirus infections aboard the quarantined cruise ship hit 135 as of Tuesday. 

3.Futures for China’s steel products and ferrous raw materials rallied on Tuesday, with iron ore rising the most in seven months, as sentiment was lifted by data showing a decline in the number of new coronavirus cases.

4.Hong Kong-based liner shipping firm, OOCL has offered its view on the current situation in China as it battles the coronavirus and how the liner company is coping.

5.The Baltic Exchange’s main sea freight index edged up from a near four-year low on Tuesday,while the larger capesize segment remained in negative territory, as the coronavirus outbreak in China crippled demand.

6.The annual results announcement of Singapore-listed HPH Trust, responsible for marine terminals in Hong Kong and Yantian in southern China, reveal an 11% fall in full year net profit to HK$1.822bn.

7.Taiwanese shipping line Yang Ming Marine Transport has announced that its 4,250 teu containership YM Eternity has been released by Australian authorities.

8.The impact of the novel coronavirus epidemic on China's economy will be temporary and will not change the fundamentals of the country's long-term economic growth, said executives of global companies on Tuesday.

Source: xinde marine news

The opinions expressed herein are the author's and not necessarily those of The OLO News.