‘Dominoes falling’ in global shipping as coronavirus continues to grip China’s economy

The Telegraph:

Container shipping from Chinese ports has collapsed since the outbreak of coronavirus and has yet to show any sign of recovery, threatening weeks of 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.

Read more at The Telegraph

Savage archives 02/01/2020: Coronavirus to begin destroying global supply chain in 3 weeks


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