Port damage largely isolated to container market — While it’s too early to assess the full extent of the damage from Friday’s earthquake, major damage appears to be isolated to the ports in Northeast Japan, consisting primarily of medium-sized container terminals. Gross production of the four prefectures hardest hit make up 6.2% of Japan’s gross production and 7.2% of its manufacturing production.
No ships under coverage damaged — The four dry bulk shipping companies under our coverage (EGLE, GNK, NM, and SB) have confirmed that none of their vessels have experienced damage from the tsunami, as all their vessels positioned in the region were far enough at sea to avoid harm.
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