SINGAPORE (Dow Jones)–With many Japanese ports still closed after Friday’s powerful earthquake and tsunami in northeastern Japan, it could take several days if not weeks before shipping activity in the region returns to normal, traders and shipbrokers said Sunday.
“The structural stability at the ports will need to be certified before normal shipping can resume and this could take weeks,” said an official with a global oil major, who didn’t want to be identified.
“No official announcement has been received about the status of the ports, but it appears likely that those on the Pacific shoreline of Honshu Island will be out of operation for some time. There have been multiple reports of vessels running aground or colliding as a result of the massive wave that followed the 8.9 magnitude quake. Damage to infrastructure in the affected area is thought to be extensive,” an internal report of a Singapore-based shipping agent said.
“There are some unconfirmed reports indicating that a number of vessels have ran aground in the vicinity of the northeastern part of the Pacific basin of Japan,” another shipping company report said.
