The 7.8 magnitude earthquake that hit the border region between Turkey and Syria, an area home to more than 13.5 million people, with a death tol now surpassing 22,000 people. Though experts say trapped people could survive for a week or more, the chances of finding survivors in the freezing temperatures are diminishing. The winter weather and damage to roads and airports have hampered the response. The container fire at the Port of Iskenderun in Turkey is now under control but closed until further notice. The closure can generate US$680 million of trade disruption – analysts say the accident is projected to interrupt US$36.7 million in iron and steel exports and US$51.4 million in plastic materials imports. The port shut operations on February 6th and several shipping lines have postponed the transportation of cargo at the port or diverted goods to Mersin, one of the Turkish ports nearby. Iskenderun is one of two main shipping container ports on Turkey’s south-eastern coastlines and is home to heavy industries such as steel, with an annual trade flow of US$18 billion in 2022.
