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Displaying items by tag: Impact Q1

The world's largest box-carrier, Maersk Line has reported improved profits in 2019 despite bearish global container growth.

However, A.P. Moller-Maersk (APMM), the parent company of the container shipping giant, warned that the spread of the coronavirus and the shutdown of large parts of the Chinese economy would be damaging for 2020 first quarter earnings given its impact on the group’s liner, logistics and warehousing activities.

“We estimate that right now that factories in China are operating at 50-60% capacity and will be ramping up to around 90% capacity by the first week of March,” said Søren Skou, CEO of APMM, in an earnings call earlier this morning.

Maersk Line has already cancelled 50 sailings in addition to services that were blanked for Chinese New Year holidays and factory closures in late January.

Lloyds Loading List has much more on the container-carrier. 

As Afloat reported earlier today, the Irish Exporters Association warned a number of Irish companies are going to be impacted by the coronavirus.

Marine Science Perhaps it is the work of the Irish research vessel RV Celtic Explorer out in the Atlantic Ocean that best highlights the essential nature of marine research, development and sustainable management, through which Ireland is developing a strong and well-deserved reputation as an emerging centre of excellence. From Wavebob Ocean energy technology to aquaculture to weather buoys and oil exploration these pages document the work of Irish marine science and how Irish scientists have secured prominent roles in many European and international marine science bodies.

 

At A Glance – Ocean Facts

  • 71% of the earth’s surface is covered by the ocean
  • The ocean is responsible for the water cycle, which affects our weather
  • The ocean absorbs 30% of the carbon dioxide added to the atmosphere by human activity
  • The real map of Ireland has a seabed territory ten times the size of its land area
  • The ocean is the support system of our planet.
  • Over half of the oxygen we breathe was produced in the ocean
  • The global market for seaweed is valued at approximately €5.4 billion
  • · Coral reefs are among the oldest ecosystems in the world — at 230 million years
  • 1.9 million people live within 5km of the coast in Ireland
  • Ocean waters hold nearly 20 million tons of gold. If we could mine all of the gold from the ocean, we would have enough to give every person on earth 9lbs of the precious metal!
  • Aquaculture is the fastest growing food sector in the world – Ireland is ranked 7th largest aquaculture producer in the EU
  • The Atlantic Ocean is the second largest ocean in the world, covering 20% of the earth’s surface. Out of all the oceans, the Atlantic Ocean is the saltiest
  • The Pacific Ocean is the largest ocean in the world. It’s bigger than all the continents put together
  • Ireland is surrounded by some of the most productive fishing grounds in Europe, with Irish commercial fish landings worth around €200 million annually
  • 97% of the earth’s water is in the ocean
  • The ocean provides the greatest amount of the world’s protein consumed by humans
  • Plastic affects 700 species in the oceans from plankton to whales.
  • Only 10% of the oceans have been explored.
  • 8 million tonnes of plastic enter the ocean each year, equal to dumping a garbage truck of plastic into the ocean every minute.
  • 12 humans have walked on the moon but only 3 humans have been to the deepest part of the ocean.

(Ref: Marine Institute)

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