SIMIC

THE earthquake in Turkey is believed to have an impact on the country and bring uncertainties to global shipping, reports Bejing's Global Times.
A fire engulfed 100s of shipping containers at Turkey's Iskenderun Port after the earthquake had been extinguished.
The port was damaged due to the earthquake, and the fire has led to the shutdown of all operations at the terminal until further notice.
"Given the situation at Iskenderun, we will need to perform a change of destination for all bookings bound for the port or already on the water. We are currently planning to divert containers to nearby hubs within operational feasibility or hold cargo at transshipment ports - including Port of Mersin and Port Said," said AP Moller-Maersk.
Said Chinese Academy of International Trade and Economic Cooperation deputy director Bai Ming: "The earthquake will affect Turkey's normal production and life, and the impact on Turkey's industrial chain and supply chain may adversely impact the nation's currency exchange rate and inflation. The earthquake will undoubtedly disturb normal shipping."
Chinese shipping analyst Wu Minghua stated that the impact is limited as the port damaged in Turkey is not in a pivotal position for China-Europe shipping routes.
One Shipping founder Zhong Zhechao declared that the 7.8 magnitude earthquake struck southeastern Turkey. "The disaster has limited impact on global shipping given the distance from major container ports and the overall cargo volume via Turkey, which is not that large," said Mr Zhong.