hit hard by a massive earthquake<\/a><\/span>.<\/p>\nTurkey\u2019s Maritime General Directorate yesterday announced that the fire at Iskenderun Limak Terminal had been brought under control after efforts from sea, air, and land. However, TV images this morning show there\u2019s still plenty of dark plumes of smoke billowing from the terminal. Authorities insist today\u2019s firefighting efforts are aimed at cooling, and the fire has been contained.<\/p>\n
All cargo operations have been suspended at Iskenderun Limak Terminal and vessels are being diverted to the nearest terminal in the same region. As well as the severe fire, the site has suffered structural damage from the earthquake, and links to the port have also been damaged.<\/p>\n
Danish carrier Maersk said that Iskenderun would remain closed until further notice. The company will hold containers in nearby ports and hubs for three weeks at no extra cost while it plans next steps and final deliveries.<\/p>\n
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Shipping lines are rallying to help out with more than 15,000 now reported killed from the earthquake. Japanese firms Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line) have donated Y10m ($76,000) and Y3m respectively.<\/p>\n
Russell Group, a British data and analytics company, estimated today that the fire at the port will cause a loss in trade of around $679m.<\/p>\n
Suki Basi, Russell Group managing director, commented on the incident: \u201cThe Iskenderun incident highlights a reoccurring issue in global trade, whereby a single point of failure \u2013 such as a port closure \u2013 can have ripple events across supply chains.\u201d<\/p>\n