Page 4 - Al-Rashed Newsletter September 2020

SHIPPING WORLD
DID YOU KNOW?
The human eye has around 576
megapixels.
The only vegetable that is never sold
frozen, canned, processed, cooked, or in
any other form but fresh is lettuce.
SHIPPING NEWS
Container shipping stages sharp rebound near pre-Covid levels
Container shipping activity has staged a sharp rebound in recent months and
is nearing pre-pandemic levels — but the outlook remains clouded in
uncertainty, a top industry executive told CNBC. “Here we are in September,
and actually, we’ve almost recovered back to the levels we had in global
container volumes compared with pre-Covid,” Jeremy Nixon, the chief
executive officer of Singapore-based Ocean Network Express (ONE), told
CNBC on Monday. Nixon now sees signs of a V-shaped rebound underway,
after a six-month “roller coaster” ride that began as a supply shock
concentrated around China and evolved into a worldwide demand problem.
He attributed the expected rebound to three main factors:
a surge in demand for personal protection equipment (such as masks
and gloves), and medical goods;
inventory build-up during the shutdowns are returning online again;
a shift in consumer purchasing behavior as people cut back on travel and
hospitality and spend more time and money at home.
Chinese container factories are now sold out until February
Three of the largest container-equipment lessors — Triton (NYSE: TRTN),
Textainer (NYSE: TGH) and CAI International (CAI) — conducted virtual
presentations for institutional investors over the past week, hosted by Keefe,
Bruyette & Woods (KBW). A handful of producers in China build almost all of
the world’s containers. “At this point, factories are now full through January
and are taking orders for February and March delivery,” KBW said, reporting
on Triton’s presentation.
DPWH to build 400-bed ‘container city’ in Davao for arriving air
passengers
The Department of Public Works and Highways (DPWH)-Davao Region will
build a 400-bed capacity “container city” worth P100 million as additional
holding facilities for arriving air passengers who will be swabbed for
coronavirus disease (COVID-19) at the Davao International Airport.DPWH-
Davao Region public affairs and information officer Dean Ortiz said on
Thursday that a total of 200 prefabricated container vans will be established
in a 1.92-hectare lot located beside the “tent city” at the existing airport along
C.P. Garcia Highway in this city.He said the additional holding facilities that
will have two beds per container van will be completed by December this
year.
Source : splash247, Freightwaves.com, CNBC, mb.com.ph