17 March 2020

COVID-19: What the media is saying today


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ISSUE NO. 2

PUBLISHED ON 17/03/2020


Lloyd’s List

16 Mar 2020

Coronavirus: Stena Line to cut 950 jobs amid sharp drop in business

Swedish ferry operator Stena Line announces 950 redundancies at its Scandinavian business as coronavirus travel restrictions crippled booking demand


Lloyd’s List

16 Mar 2020

Coronavirus: Marine claims for delay and disruption to rise

Coronavirus is likely to see an increase in delay and disruption claims under marine policies, an International Union of Marine Insurance newsletter has warned


TradeWinds

16 Mar 2020

Lloyd’s of London survives coronavirus stress test

Lloyd’s of London, the shipping industry’s largest single insurance market place, has shored up its defences against the impact of coronavirus on its business.

Last Friday, Lloyd’s of London closed down its underwriting room to test whether business could continue as usual using alternative trading protocols.


TradeWinds

16 Mar 2020

Shipping shares ravaged in 2020 trading on virus impact

Dry bulk and containership shares have lost nearly half their value and tanker stocks more than a quarter from the start of 2020 after the corona-virus fuelled sell-off in the broader equity market.

Bulker shares lost 18% and containership shares 19% in the last week alone, but tanker stocks have firmed 17% on the strength of Saudi Arabia’s decision to flood the market with cut-priced oil.


Shipping Watch

16 Mar 2020

Nordic shipping hit by closed borders and layoffs

Denmark, Germany and Norway have either shut down their borders or temporarily sealed off access to the countries in other ways in response to the corona outbreak. Large shipping companies are sending employees home.


Shipping Watch

16 Mar 2020

Oil falls deeper into turmoil triggered by epic demand collapse

Oil’s spectacular collapse deepened as widening global efforts to fight the spread of the coronavirus looked set to trigger the most severe contraction in annual oil demand in history.


Shipping Watch

16 Mar 2020

Lenders prepare for crisis talks with shipping companies

Major bank Nordea and investment firm Breakwater Capital both expect shipping clients to need help in the times to come due to the coronavirus and the oil price drop. “We’ve stepped up the dialog,” CEO says.


Financial Times

EU leaders prepare to close bloc’s borders

Brussels is planning a temporary ban on “non-essential travel” to 31 European countries as part of its response to the coronavirus pandemic.

Ursula von der Leyen, European Commission president, said on Monday that the measure would cover EU countries and non-members of the bloc that are part of the 26-country Schengen passport-free travel zone.


Financial Times

16 Mar 2020

China goes on the offensive to control global coronavirus narrative

It was nothing more than a far-fetched rumour circulating among conspiracy theorists until a Beijing diplomat tweeted that the US military had planted the coronavirus outbreak in China. “It might be US army who brought the epidemic to Wuhan,” Zhao Lijian, a spokesperson for China’s foreign ministry, wrote on Twitter on Thursday, in response to an admission by America’s Centers for Disease Control that its counting of coronavirus cases was faulty. “Be transparent! Make public your data! US owe us an explanation!”


Financial Times

16 Mar 2020

World on lockdown: West closes borders and orders isolation

Governments in all large western economies took drastic measures to limit public movement on Monday, closing borders, shutting down retailers and ordering citizens to stay in their homes in an urgent effort to arrest the spreading coronavirus pandemic.


EVENTS CANCELLED

  • Sea Japan
  • CMA Shipping
  • Asia Pacific Maritime
  • Transpacific Maritime Conference
  • Singapore Maritime Week
  • Superyacht Gathering 2020

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