LONDON: China is struggling to resume normal trade operations as fallout from the coronavirus outbreak hits container shipping lines and logistics chains, with goods stuck and costs mounting, industry officials say.
The world’s biggest container line Maersk warned on Thursday that the coronavirus outbreak would weigh on earnings this year, adding to pressure on a sector already hit by trade wars and an economic slowdown. The world’s No 2 container line MSC said the discharge of refrigerated reefer containers was also affected due to problems with power sources.
Shipping consultancy Alphaliner estimated that 46% of scheduled departures on the major Asia to north Europe route had been cancelled in the past four weeks. Anesco, the Spanish dockworkers’ employers association, said it estimated that container volume could decrease by up to 30% in coming months due to the impact of the virus, which would result in economic losses across Spain’s ports.
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