Construction of resilience mechanisms in response to container shipping market volatility during the pandemic period: From the perspective of market supervision

As a key enabler of international trade, the container shipping market experienced port congestion, space shortages, and skyrocketing freight rates following the outbreak of the COVID-19 pandemic. Therefore, this paper first utilizes the vector autoregressive model with exogenous variables (VARX) to analyze the interactive mechanisms of economy, capacity, freight rate, and port congestion during the pandemic to identify the causes behind the excessive market volatility. We then introduce government supervision to improve the policy deficiencies in pricing rules and assess whether prohibiting liner companies from charging excessive surcharges can solve market dilemmas by constructing a tripartite evolutionary game model. The results show that liner companies deliberately maintained congestion by using strict control over shipping capacity to raise freight rates and obtain high profits, which is one of the main reasons for the problems. However, we also conclude that relying solely on the spontaneous behavior of the market is unlikely to resolve the predicament. Instead, government intervention can play a crucial role in encouraging liner companies to increase appropriate container capacity, stabilize freight rates, and mitigate the risk of supply chain disruptions due to port congestion. This, in turn, can enhance the resilience of the container transport system.

Preclinical evaluation of ISH0339, a tetravalent broadly neutralizing bispecific antibody against SARS-CoV-2 with long-term protection.

BACKGROUND: Ending the global COVID-19 pandemic requires efficacious therapies against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Nevertheless, the emerging Omicron sublineages largely escaped the neutralization of current authorized monoclonal antibody therapies. Here we report a tetravalent bispecific antibody ISH0339, as a potential candidate for long-term and broad protection against COVID-19. METHODS: We report here the making of ISH0339, a novel tetravalent bispecific antibody composed of a pair of non-competing neutralizing antibodies that binds specifically to two different neutralizing epitopes of SARS-CoV-2 receptor-binding domain (RBD) and contains an engineered Fc region for prolonged antibody half-life. We describe the preclinical characterization of ISH0339 and discuss its potential as a novel agent for both prophylactic and therapeutic purposes against SARS-CoV-2 infection. RESULTS: ISH0339 bound to SARS-CoV-2 RBD specifically with high affinity and potently blocked the binding of RBD to the host receptor hACE2. ISH0339 demonstrated greater binding, blocking and neutralizing efficiency than its parental monoclonal antibodies, and retained neutralizing ability to all tested SARS-CoV-2 variants of concern. Single dosing of ISH0339 showed potent neutralizing activity for treatment via intravenous injection and for prophylaxis via nasal spray. Preclinical studies following single dosing of ISH0339 showed favorable pharmacokinetics and well-tolerated toxicology profile. CONCLUSION: ISH0339 has demonstrated a favorable safety profile and potent anti-SARS-CoV-2 activities against all current variants of concern. Furthermore, prophylactic and therapeutic application of ISH0339 significantly reduced the viral titer in lungs. Investigational New Drug studies to evaluate the safety, tolerability and preliminary efficacy of ISH0339 for both prophylactic and therapeutic purposes against SARS-CoV-2 infection have been filed.

Cruise tourism in the context of COVID-19: Dilemmas and solutions.

COVID-19 cases on international cruise ships have attracted extensive attention from the international community as well as the world's tourism and shipping industry. This virus highlighted the plight that must be faced by cruise ships in complicated times and situations such as pandemics. The comparative method is adopted to analyze the management measures taken by the "Diamond Princess", "Costa Serena", "Westerdam" and "Grand Princess" cruises in response to the COVID-19 pandemic and then to summarize the common dilemmas faced by these cruise ships, including defects of their internal environment, unclear health-care obligations during an epidemic, weak collaboration between the parties involved and their limited performance, and widespread infodemic and unfavorable public opinion. Given these dilemmas, measures are suggested to deal with the "cruise dilemma", including establishing and defining isolation standards on boards, enhancing the capacity of international organizations, the international community's joint response to the pandemic, promoting cooperation between countries, building an effective mechanism for the broad participation of the whole society, and standardizing the release of information and reasonably guiding public social opinion.

Impacts of the COVID-19 epidemic on carbon emissions from international shipping.

The COVID-19 epidemic made the most countries to take strict lockdown measures, what has seriously caused an unprecedented impact in the shipping industries, whereas these measures have also played a significant impact to control carbon emissions from international shipping. Here, we try to use the threshold generalized autoregressive conditional heteroscedasticity and the exponential generalized autoregressive heteroscedasticity to investigate whether the fluctuations of the control variable on carbon emissions from international shipping are asymmetric or not. On this basis, the GARCH-MIDAS model is introduced to discuss whether the newly confirmed cases are independent of control variables and have an impact on the fluctuation of carbon emissions. From the results, we find that the information contained in the newly confirmed cases cannot be covered when adding the other control variables. In addition, the newly confirmed cases have a negative impact on the volatility of carbon emissions, while the other control variables significantly increase carbon emissions. This study provides a quantitative research method for the analysis of the volatility and impact factors on international shipping carbon emissions, which helps to formulate more reasonable emission reduction measures and promote the low-carbon transformations of the global shipping industry.

International crew changes amid global pandemic outbreaks: Key issues and system innovations.

The outbreak of COVID-19 pandemic all over the world has seriously affected seafarers' work and life. In this paper, we focus on the countermeasures of major countries and organizations on the seafarer shift matter during the pandemic period. And the target of this paper is to become useful in promoting the shift change of seafarers more smoothly. Policies are identified on the basis of a systematic review of importance in combination with a detailed analysis of the primary global and national policy initiatives. Findings suggest that the root cause of the international crew change crisis lies in the issues and deficiencies in the crew change system, economic security, seafarers' welfare, and seafarers' social security among other aspects. On this basis, this paper gives feasible suggestions in the respects of system innovation, economic security and welfare, social security system innovation and technical innovation.

Appeal of word of mouth: Influences of public opinions and sentiment on ports in corporate choice of import and export trade in the post-COVID-19 era.

With the advent of the post-COVID-19 era, corporate managers of import and export trade are now more sensitive in their daily work, and their decisions are more likely to be influenced by the emotional bias of public opinions, especially regarding cooperation with trade ports of frequent circulation. Therefore, how to manage public opinion and sentiment in the post-COVID-19 era will be a new opportunity and challenge for the marketing management of ports. For the above considerations, through the same frequency verification between public opinions and sentiment on ports and corporate choice of import and export trade, and through analysis of the influence mechanism, the present study demonstrates the positive effects of public opinions and sentiment on ports in corporate choice of import and export trade in the post-COVID-19 era, verifies the significance of shaping word of mouth in port management, puts forward the great role of public opinions and sentiment in the cognitive and emotional empathy in the choice of import and export trade, and provides theoretical guidance for port managers' strategic choices in the post-COVID-19 era.

Estimating the effect of COVID-19 epidemic on shipping trade: An empirical analysis using panel data.

The unexpected outbreak of COVID-19 epidemic is an unpredictable event in shipping trade. In this paper, we mainly investigate the gaps that occur in the shipping trade between China and different regions during the period February-October 2020 and to provide useful information for operation management of shipping industry. The data include a panel obtained from the National Statistics Institute to analyze the gap where a selected group of shipping trade in three regions are considered: European Union, North America, and Southeast Asia. On this basis, a dynamic panel data model is proposed to estimate the trend. We observe that government prevention and control measures have a negative impact on export trade, while import trade increases accordingly.

The effect of COVID-19 pandemic on port performance: Evidence from China.

The COVID-19 outbreak has had a serious effect on the global economy, particularly the volume of port trade between imports and exports. We construct a panel regression model with month as time series where panel data from 14 major ports in China from January to October 2020 to analyze how the macro economy, the severity of the epidemic, and government control measures affect port operations. Based on the results, we have identified the key factors affecting port operations in the context of the pandemic and the managerial insights can help shipping company, port operator and government to change the strategy to copy with the effect of COVID-19 pandemic.