‘The extent of the coronavirus impact and when it will come to an end are still unclear, but it is expected that April through to June 2020 will be the worst period and the level of economic activities will gradually recover thereafter,’ the group said

MPA says it “recognises the critical role that seafarers play in global seaborne trade, as well as the importance of crew change to safeguard the health and safety of seafarers sailing on board ships”

K Line has committed to deploy the Airseas kite propulsion systems, known as Seawing on their vessels next year and has signed options for a further 50 installations for their fleet

Coal demand is set to rise more than four times to 12m tonnes of oil equivalent, with Indonesia and Australia seen as the main suppliers

Reducing the number of sailings helped the group to adjust supply and save on bunker costs

SembMarine has warned that the effects of the coronavirus backdrop as well as low oil prices on future projects’ final investment decisions will continue to adversely affect new orders