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Subject 'Dominoes falling' in global shipping as coronavirus continues to grip China's economy

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Original Message Container shipping from Chinese ports has collapsed since the outbreak of coronavirus and has yet to show any sign of recovery, threatening chaos for manufacturing supply lines and the broader structure of global trade. Almost half of the planned sailings on the route from Asia to North Europe have been cancelled over the last four weeks. A parallel drama is unfolding on routes from the Pacific Rim to the US and Latin America.

Lars Jensen from SeaIntelligence in Copenhagen said the loss of traffic is running at 300,000 containers a week. This will cause a logistical crunch in Europe in early March even if the epidemic is brought under control quickly. “The dominoes are toppling through the whole chain. When ships don’t leave port in China, they don’t stop to pick up cargo in Hong Kong, Saigon, or Singapore either. Freight rates are in free fall,” he said.

[link to www.telegraph.co.uk (secure)]

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