The pandemic has revealed shortcomings in global supply chains and forced business to make logistics a bigger strategic priority. Successfully delivering Covid-19 vaccines will test manufacturers and shippers on what lessons have been learned. “If 50 million doses were available today, could we distribute them?” asked Glyn Hughes, head of cargo at the International Air… Continue reading Covid-19 Vaccine Delivery Will Present Tough Challenge to Cargo Airlines
Tag: cargo insurance
COVID-19 Confirmed on Gjertrud Maersk
The Gjertrud Maersk has become what is believed to be the first container ship in the world reported to carry the coronavirus. Seven crew members were evacuated from the vessel in Ningbo, China, on Thursday. “One of the seafarers has been diagnosed with COVID-19 and four seafarers are asymptomatic infected individuals. The other two tested… Continue reading COVID-19 Confirmed on Gjertrud Maersk
Low Cargo Volumes Drive TwoPort Miami Terminals to Plan Temporary Closures
Two PortMiami terminals have scheduled temporary closures because of low import container volume. The South Florida Container Terminal (SFCT) gate at PortMiami will be closed Friday. “We have only had one blanked sailing and the closure is only due to low import volume in the terminal,” Mark J. Baker, the terminal director, said in an… Continue reading Low Cargo Volumes Drive TwoPort Miami Terminals to Plan Temporary Closures
Cargo Handling Continues at U.S. Ports Despite Coronavirus Spread
The Port of Los Angeles said all terminals were operational Monday but that it expects volume declines associated with the coronavirus pandemic to continue. The Port of LA moved 544,037 twenty-foot equivalent units (TEUs) in February, a 22.9% decrease compared to last year. “While cargo volumes are important, the coronavirus is first and foremost a… Continue reading Cargo Handling Continues at U.S. Ports Despite Coronavirus Spread
Maritime Emissions Rule Triggers Split in Shipping Costs
An environmental rule hitting the maritime world at the turn of the New Year will open a steep divide in operating costs across shipping markets. A large share of vessel operators have chosen to limit their sulfur emissions with exhaust systems called scrubbers that trap sulfur created by fuel-burning engines. The systems cost several million… Continue reading Maritime Emissions Rule Triggers Split in Shipping Costs
Shipping Industry Sails into Unknown with New Pollution Rules
Faced with imminent new global marine pollution rules, shipping companies and insurers are puzzling over the risks. To reduce emissions of toxic sulphur that cause premature deaths, shipowners who have long relied on the dirtiest residues of oil extraction will have to either switch to low-sulphur fuel or install exhaust gas cleaning systems from Jan.… Continue reading Shipping Industry Sails into Unknown with New Pollution Rules
Insurance Rates Have ‘Increased 10-Fold’ After Attacks in the Strait of Hormuz
Insurance rates for tankers transiting through the world’s most important oil choke point have skyrocketed in recent weeks, according to the CEO of a U.S.-listed shipping company. Six oil tankers and a U.S. spy drone have been attacked since May either in, or near, the Strait of Hormuz — a strategically important waterway which separates… Continue reading Insurance Rates Have ‘Increased 10-Fold’ After Attacks in the Strait of Hormuz
US Coast Guard Warns About Malware Designed to Disrupt Ships’ Computer Systems
The United States Coast Guard has sent out two security alerts over the course of the last three months, highlighting a problem with the cybersecurity practices aboard commercial sea vessels. The first alert was sent out in late May, and Coast Guard officials warned about an ongoing wave of email spear-phishing that spread malware to… Continue reading US Coast Guard Warns About Malware Designed to Disrupt Ships’ Computer Systems
Cargo Insurers Can Face Up to $65M in Exposure Value for Gulf of Oman Attack
The tankers were attacked in the Gulf of Oman, which is located near the Strait of Hormuz, a vital shipping route for global trade. More than a fifth of global oil demand passes through the Strait or 16.8 million barrels per day according to Lloyd’s List. According to Russell Group analysis, there are over 67,533… Continue reading Cargo Insurers Can Face Up to $65M in Exposure Value for Gulf of Oman Attack
Allianz Warns of Costs from New Shipping Emissions Rules
New emissions rules set to hit the shipping sector from next year risk causing costly harm to vessels, German insurance giant Allianz said in a study published Tuesday. “The worry is that we could see an increase in the frequency and cost of machinery breakdown claims” related to the changeover, senior shipping underwriter Justus Heinrich… Continue reading Allianz Warns of Costs from New Shipping Emissions Rules