Coronavirus Toll on Shipping Reaches $350 Million a Week

More than 350,000 boxes have been removed from global trade networks since the disease broke out last month, Denmark-based maritime data provider Sea-Intelligence said Monday.

“Truck drivers spent the night in their vehicles waiting to unload cargo to ships that didn’t show up,” said Li Chen, a tug captain for Shanghai Salvage Co., a state-run maritime services operator. “There are delays in processing cargo with customs still on skeleton staff. The usual rush after New Year isn’t here. A lot of people fear for their jobs with business falling so much.”

Newsletter Sign-up U.S. retailers depend on those imports to replenish inventories heading into the spring, but the nation’s largest retail group is predicting sharply diminished shipping volumes over the next few months. “U.S. retailers were already beginning to shift some sourcing to other countries because of the trade war, but if shutdowns continue, we could see an impact on supply chains,” said Jonathan Gold, the NRF’s vice president for supply chain and customs policy.

Jie Ming, a crane manager at the Xixia industrial area at the Port of Nanjing, the biggest port on China’s Yangtze River, said inbound iron ore shipments were significantly lower over the past three weeks.Work at China’s shipyards is being delayed on new vessels and for ships that are being fitted with exhaust systems known as scrubbers to meet regulatory requirements for reduced sulfur emissions.

Ship broker Clarksons PLC said deliveries of new tankers, bulk ships and container ships would also likely be delayed over the coming months because of the slowdown from the coronavirus.

Lol china economy cripple down and they deserve that now world need some quality goods

I’ve been telling you fucking people...my model shows this is going to be a fücking catastrophe. You have no idea!

Wonder how it’s affecting Elaine Chao & MoscowMitch bottom line! 🧐 TrumpCrimeSyndicate coronavirus TrumpCutsCDCBudget

Wait that can't be. The administration said that the coronavirus is good for America, and Trump and Ross wouldn't waste time worrying about the human toll when there is money to be made.

This figure demonstrates the absolute sheer size of China’s export strength. The loss of economic activity will have a major dent on oil and gas prices.

So? Things will be delayed a bit. But eventually they will all be shipped.

But we discover we can perfectly live without everything they transport🤷🏻‍♀️

Good....Hopefully globalism ends with this one virus.

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