1.Chinese oil demand has dropped by about 3 million barrels a day, or 20% of total consumption, as the coronavirus squeezes the economy.
2.China Merchants Port received the resignation submitted by the company's chairman, Fu Gangfeng. And Deng Renjie was elected as the company's new chairman.
3.CLIA Members have suspended crew movements from mainland China and will deny boarding to any individual, whether guest or crew, who has travelled from or through mainland China within the previous 14 days.
4.North P&I Club has launched a new digital tool that will help shipowners and operators track the spread of the Coronavirus outbreak.
5.The China Ningbo Containerized Freight Index (NCFI) reported a relatively big drop in freight indices in the routes to the west coast of South America.
6.Specialist insurer Beazley has launched its etrading platform myBeazley in Asia, providing brokers in Hong Kong and Singapore with online access to Beazley’s management liability and cyber product suites.
7.The coronavirus outbreak in China has forced several countries to resort to stringent quarantine checks in their battle to contain the spread and the measures are starting to have a knock-on effect on the global commodities shipping market.
8.The Baltic Capesize Index hit a record low yesterday, dropping 92 points, or 98.9%, to finish on just one point with the overall Baltic Dry Index also sliding.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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