Shipping giants accused of running price fixing cartelFive of the world’s shipping majors stand the chance of losing R2.9 billion after accusations that they were running a cartel which inf lated transport costs for the delivery of imported cars to the United Kingdom between 2006 and 2015.Cargo cover launched to provide viral barrier against Cov i d -19TLX Cargo has launched the first-ever cargo cover to be built from viral barrier material as part of efforts to help contain the spread of the Novel Coronavirus (Covid-19) and protect cargo from the disease.US container volumes down as coronavirus spreadsChina’s coronavirus (Covid-19) is significantly eroding US throughput volumes at its primary Pacific ports at a time when the ongoing tariff standoff between the two countries is easing following frequent trade talks between Beijing and Washington.Prices rise as Chinese goods remain at seaEast African trade is under pressure from the coronavirus as Chinese vessels fail to dock at Kenya’s Port of Mombasa, the gateway through which East African countries import Chinese goods.Ports far more deserving of Treasury’s largesseThe billions of rand allocated in the Budget to South African Airways would be far better spent on South Africa’s ports which are Transnet’s money-spinners.Coronavirus costs shipping industry $350m a weekAccording to the International Chamber of Shipping (ICS), the Coronavirus (Covid-19) has cost the shipping sector $350 million a week – with more than 350 000 containers removed from global trade.IMO2020 and Covid-19 have shipping industry on the back footAmerican freight turnaround consultancy Alix Partners (AP) has warned that container shipping is under the cosh, burdened by bankruptcy risk measurements curving up on the back of volumes tapering off and fuel costs going up.
