The Port Is Full of Ships and Containers Are Piled Up! U.S., Europe and Australia's Foreign Trad
- Author:Aaron
- Release Date:2021-05-22
The global epidemic is spreading, and the economies of foreign countries have suffered unprecedented blows. In terms of shipping, "ports are full of ships and containers are piled up" has become the norm.
Imports and Exports of Major U.S. Ports Fell Severely In March
Affected by the epidemic, US ports were hit hard in March, and the volume of container imports and exports dropped severely. Ports including Los Angeles, Long Beach, Oakland, Houston and Charleston on the east and west coasts all experienced a decline in throughput in March.
The chief executive officer of the Northwest Seaport Alliance (NWSA), John Wolfe, said at a press conference on Wednesday that container shipping companies have cancelled more flights due to the ongoing "unprecedented disruption" in the global supply chain., He expects the second Quarter's Traffic Will Continue to Be Weak.
NWSA, which operates ports in Seattle and Tacoma, Washington, said that during the first quarter, NWSA handled 788,882 TEUs, a decrease of 15.4% from the same period last year, and total imports and exports fell by 19.3% and 4.9%, respectively .
Among them, 264,133 TEU were processed in March, the import volume fell by 28.2% year-on-year, and the export volume fell by 8.6% year-on-year. Due to the economic stagnation, many companies have closed down, and consumer market demand has fallen from last year. Wolf said that the container shipping company cancelled 32 flights in the first quarter, of which 19 were cancelled in March alone. "As of now, we expect 19 more flights to be cancelled because we have already Seen a Very Unstable Situation in The Second Quarter, "He SAID.
U.S. West Coast Ports
The Port of Los Angeles, the busiest container port in North America, experienced a 30.9% year-on-year decrease in throughput in March. The port stated that it handled 449,568 TEUs in March this year, which is the lowest monthly volume of freight That Has Passed THROUGH The Port Since February 2009.
Imports in march fell 25.9% from The Same Period Last Year To 220,255 Teus. Exports Fell by 23.8% To 121,146 Teus. The number of empty containers Dropped by 44.5% to 108,168 teus.
The same is true for the Port of Long Beach. According to port officials, 19 flights to Long Beach were cancelled in the first quarter of 2020, which resulted in a 6.9% drop in cargo volume compared with the first three months of 2019. Terminal Operators and Dockers Handled 517,663 TEUS Last Month, A Decrease of 6.4% Compared to March 2019.
Imports fell by 5% to 234,570 TEUs, while exports increased by 10.7% to 145,442 TEUs. Empty containers shipped overseas fell 21% to 137,652 TEUs. The Port of Oakland also reported on Monday that its March container imports fell by 10.3% year-on -year, and the number of empty containers returning to Asia fell by 23%. The number of ships calling at Auckland dropped by 10.6%, the port's container load dropped by 7.4%, and the export container volume dropped by 5%.
Gulf coast port
THE Port of Houston, The Largest Container Port on The U.GULF COAST, SAID ITS Container Business Began To Slow Down In Late March Due To The Epidemic.
The Port of Houston handled a total of 248,280 TEUs in March, a decrease of 11% from the 280,721 TEUs in March 2019. However, the first quarter increased by 11%. From January to March, the port handled a total of 773,087 TEUs, Compared with 694,167 teus in the same period last year.
East Coast Port
In March, The Port of Jacksonville, Florida's Ro-Ro Volume Dropped 21% Year-on-Year. The Report Stated That The Volume of Containers In March Was 14% Lower Than The Month's Budget.
"Although the total volume fell in March, income has remained stable," said Chelsea Kavanagh, JAXPORT public information officer. "We hope to see more revenue in April, May and June. The extent of the epidemic's impact has yet to be determined. We are working closely with our ocean carriers and tenants to monitor the situation and prepare. "
Kavanagh also stated that in order to help companies in northeastern Florida manage their cash flow better during the pandemic crisis, JAXPORT has postponed the No. 64 foreign trade zone (FTZ) application fee collected before July 31. New free trade zone customers can extend the one-time $ 2,500 application fee for 90 days from the application date. The free trade zone is a safe site in the United States, but technically speaking, it is not within the jurisdiction of the United States customs. It allows shippers to clear the goods When Leaving The Free Trade Zone While Saving Import Customs Clearance Costs.
The South Carolina Port Authority said in a press release that it remains optimistic about the long-term outlook, despite the decline in imports and exports during the same period in March. The total volume of imports loaded was 76,019 TEUs, a decrease of 18.1% from the 92,875 TEUs recorded in March 2019. The export load of 73,077 TEUs decreased by 6% compared to the 77,704 TEUs in March 2019, and the air freight volume decreased by 16.1% year-on-year, from 43,534 TEUs to 36,536 TEUs.
Multinational Ports in Europe Face Paralysis
According to the British Financial Times, in the coming weeks, European ports and warehouses will see a surge of containers and will face a backlog of finished products. Before the new crown pneumonia pandemic, container ships departing from Asia arrived at their destinations but found that Demand No longer exissrs.
"Nobody wants the goods shipped to Europe. The problem lies here. The port will have a backlog of goods for four or five weeks," said Lars Jensen, CEO of the Danish "Maritime Intelligence" consulting company. "Importers will face warehouses. The Situation Is Full and Large Quantities of Goods Need To Be Sent Out, And The Can't Sell The at all. "
Three-quarters of the goods entering the EU go by sea, and 30% of the intra-EU trade is transported by ships. The suspension of the maritime terminal will quickly spread to the entire sales network. The logistics company is understaffed due to illness OR Self-Isolation of Employees, And Commodity Buyers Are Unwilling or Unable To Receive Previously Ordered Goods Due To Concerns About Cash Flow Difficulties Caused by The Economic Slowdown.
According to reports, the world's largest car handling center, Zeebrugge Port in Belgium, is taking measures to store thousands of unmanned cars, including laying gravel on dirt roads to park vehicles. Shipping companies such as CMA CGM proposed to unload the cargo in advance at the transfer station, such as unloading the cargo in Piraeus in Greece and Algeciras in Spain on the way to Europe. Some companies say that the backlog of the logistics chain may slow down the delivery of important supplies to hospitals and supermarkets.
The Reverse Route: For European Companies Exporting to Asian Markets, There Has Been A Recent Shortage Of Containers on this "Return Route".
When the Surge of Ships Arriving in Europe Is over and the Goods Are All Distributed, Cargo Handling Companies Will Face Hard Times in The Current Continental European Economic Recession.
Australian Retailers Closed, Containers Squeezed The Port of Melbourne
According to the "Times" report on April 13, Victoria's freight industry is facing a warehousing crisis. Goods shipped from China are stacked in warehouses and container yards. These goods can not be put on shelves due to the closure of stores due to the epidemic.
In the next month, Victoria will face a serious shortage of storage space. As the state may be about to implement the fourth phase of "closure" measures, many retailers and builders will be closed on a large scale by then.
It is expected that more businesses will be closed, and store inventory that remains open is low. This situation is causing a backlog of goods in Victoria's major distribution centers and container yards. The Port of Melbourne is urgently looking for an alternate storage point for storing 6-meter-long containers, because at least two export container yards are already full. Port CEO Brendan Bourke said that as 20 ships from China were cancelled due to the epidemic, empty containers that should have been exported to China last month could not leave The port.
"Due to the congestion in China's major ports last month, empty containers that should have been shipped back to China have been stranded here, and some container yards have approached or reached their maximum capacity."
According to the report, as China's trade begins to rebound, it is expected that in the next 3-5 weeks, freight orders from Australia before the escalation of the epidemic will arrive at the port. Suppliers now require transportation operators to reserve containers for extended storage, as the distribution center will be flooded with cargo. But Bourke said that even Victoria's largest operator can not meet the storage needs of all its customers, so there is an urgent need for new temporary container yards. Josh Boyd, the transportation general manager of The Logistics Company Silk Contract Logistics, Said That Its Main Customer Ishka Has Entered The Liquidation Stage, And The Sales of Other Customers Are Also Not As Good As Before.
The company operates 6 container yards and about 10 warehouses Despite its huge capacity, it is expected that there will be insufficient storage space in the coming weeks Boyd said:.. "A lot of goods are coming in We are now on the edge of. a cliff, but we have not yet collapsed. The real impact is the upcoming fourth phase of the blockade. By then, we will see the entire supply chain. Are greatly affected. "Australian Container Freight Service (Australian Container Freight Service) CEO Arthur Tzaneros said that the company's railway stock points and warehouses may store goods from other stock points in the next few weeks. The company has already Start packing goods more efficiently to create more space.
He said: "We do not think the storage crisis has arrived, but we are preparing for it." A state government spokesperson said that during the epidemic, the government is working closely with the industry to ensure the smooth flow of freight ". We have imported a Number of Measures To Ensure The Transportation of Goods, include the importing of truck curfews to ensure That Victorians Get The Important Goods They NEED.
A Large Backlog of Containers in India, Shipping Companies Announced The Suspension of Shipping
In order to prevent the spread of the coronavirus, after India implemented a 21-day national blockade on March 25, it is now extended to May 3. Now India's main container ports are facing severe traffic congestion, and major ports have basically In a state Of "shutdown"!
According to a warning from the Container Freight Station Association of India (CFSAI), Jawaharlal Nehru Port (JNPT), Mundra Port (Mundra), Pipaava Port (Pipavav) and Hazira Port (Hazira), Has been moving containers of imported goods to nearby Storage Yards, But The Containers Have Not Been Cleared by Importers, Causeing a Lot of Congend.
In addition, according to the latest reports from foreign media, due to unmanned pickups and truck drivers returning home, more than 50,000 containers are in uncleared state at container ports and freight stations such as Chennai, Kamajara and Kattupalli in India, and major ports and FREIGHT STATIONS is Congested.! at present, thousans of truck drivers have left their jobs and returned to their hometowns for isolation.
It is reported that Maersk, Mediterranean Shipping, CMA CGM, Hapag-Lloyd and COSCO SHIPPING have not called at Jawaharlal Nehru Port and Mundra Port recently, and will implement the port skip plan to reduce or stop. Calling at the ports of Javaral Nehru and Mondela.
Lars Jensen, a partner of SeaIntelligence Consulting, said that if port congestion continues, carriers will have no choice but to stop bookings for major ports in India, except for transporting goods to India at transshipment hubs such as Jebel Ali, Salalah and Colombo. It Will Affect All Goods, INCLUDING Necessities. "
Annkur Kumar, CEO and FOUNDER of Nuo Logistics Service, Said That The Congestion of Jnpt May Continue for a long time, beyond the originally scheduled lockdown period.
He added: "We will see that the goods are shipped directly to the port, and the available containers will only be used in the yard connected to the port, which will directly affect the port delivery volume, because the shipping company may encourage the early Release of the closer to the port. Container. "
"These measures will increase the logistics costs of enterprises. Because the industry is facing a shortage of manpower, road freight from inland to ports is expected to rise. The authorities have forced ports, terminals and shipping companies not to collect detention and detention during the Blockade. Period Fee, So this Will Prompt Importers to delay the clearance of goods. "
THE EUROPEAN FREIGHT Market May Shrink by Nearly 20% IN 2020
According to a new research report from Transport Intelligence (Ti), Ti's original forecast of a 2.1% growth rate of European road freight has to be completely revised with the outbreak of covid-19 and subsequent social blockade.
According to the report, the most optimistic forecast of European road freight operators is a contraction of 4.8%, and the worst-case scenario is a contraction of 17%. The report stated that this is "much worse than the Great Recession of 2008 / 9."
However, Extensive Forecasts Also Conceal Significant Difference in Different Geographies and Verticals.
The Five Largest EUROPEAN MARKETS-Germany, The United Kingdom, France, Spain and Italy, Are Expected To Fall By 5.6% in The Best Case and 21.3% in The Worst Case.
This difference depends largely on the duration of the lockdown and the impact on demand. Analysis shows that in extreme cases, if it deviates from the expected recovery path, more than one-fifth of the market value of the five major markets this year may evaporate .
Ti previously predicted that the total of the five markets will grow by 1.4%, but due to the chain reaction of the epidemic and other key industries such as automobile manufacturing, the demand for road freight operators has fluctuated sharply.
According to the report, this "has a particularly huge impact on the German market, but it also pushed the knock-on effect to Central Europe, where these services are provided. Production has basically ceased in the third week of March."
Similarly, demand in the European apparel and footwear industries has fallen by more than half, and Italy and Spain have experienced a much larger decline, and the supply of these products has been hit by Asian sourcing problems.
Even the grocery distribution industry has been plagued by considerable uncertainty. "With the development of the covid19 crisis, the situation in each economy is different, and panic buying has appeared in the UK and the Netherlands."
The report said: "The situation in France, Italy, and Spain has rapidly shifted from panic buying to collapse, demand has fallen, and supply chains have undergone drastic changes." Ti predicts that as the economy begins to emerge from the emergency phase of., a ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
The First Quarter: 400 Sea Voyages Stopped, And Air Freight Lost 40 Billion
By SEA
The latest data released by the shipping consulting agency Sea-Intelligence shows that in response to the downturn in demand caused by the spread of the epidemic, global container shipping companies have begun to reduce their operating capacity.
Globally, The Scale of Suspension of Shipping In The Maritime Industry Has Further Expanded. In The Past Week Alone, Another 83 Voyages Have Been Cancelle.
Imports and Exports of Major U.S. Ports Fell Severely In March
Affected by the epidemic, US ports were hit hard in March, and the volume of container imports and exports dropped severely. Ports including Los Angeles, Long Beach, Oakland, Houston and Charleston on the east and west coasts all experienced a decline in throughput in March.
The chief executive officer of the Northwest Seaport Alliance (NWSA), John Wolfe, said at a press conference on Wednesday that container shipping companies have cancelled more flights due to the ongoing "unprecedented disruption" in the global supply chain., He expects the second Quarter's Traffic Will Continue to Be Weak.
NWSA, which operates ports in Seattle and Tacoma, Washington, said that during the first quarter, NWSA handled 788,882 TEUs, a decrease of 15.4% from the same period last year, and total imports and exports fell by 19.3% and 4.9%, respectively .
Among them, 264,133 TEU were processed in March, the import volume fell by 28.2% year-on-year, and the export volume fell by 8.6% year-on-year. Due to the economic stagnation, many companies have closed down, and consumer market demand has fallen from last year. Wolf said that the container shipping company cancelled 32 flights in the first quarter, of which 19 were cancelled in March alone. "As of now, we expect 19 more flights to be cancelled because we have already Seen a Very Unstable Situation in The Second Quarter, "He SAID.
U.S. West Coast Ports
The Port of Los Angeles, the busiest container port in North America, experienced a 30.9% year-on-year decrease in throughput in March. The port stated that it handled 449,568 TEUs in March this year, which is the lowest monthly volume of freight That Has Passed THROUGH The Port Since February 2009.
Imports in march fell 25.9% from The Same Period Last Year To 220,255 Teus. Exports Fell by 23.8% To 121,146 Teus. The number of empty containers Dropped by 44.5% to 108,168 teus.
The same is true for the Port of Long Beach. According to port officials, 19 flights to Long Beach were cancelled in the first quarter of 2020, which resulted in a 6.9% drop in cargo volume compared with the first three months of 2019. Terminal Operators and Dockers Handled 517,663 TEUS Last Month, A Decrease of 6.4% Compared to March 2019.
Imports fell by 5% to 234,570 TEUs, while exports increased by 10.7% to 145,442 TEUs. Empty containers shipped overseas fell 21% to 137,652 TEUs. The Port of Oakland also reported on Monday that its March container imports fell by 10.3% year-on -year, and the number of empty containers returning to Asia fell by 23%. The number of ships calling at Auckland dropped by 10.6%, the port's container load dropped by 7.4%, and the export container volume dropped by 5%.
Gulf coast port
THE Port of Houston, The Largest Container Port on The U.GULF COAST, SAID ITS Container Business Began To Slow Down In Late March Due To The Epidemic.
The Port of Houston handled a total of 248,280 TEUs in March, a decrease of 11% from the 280,721 TEUs in March 2019. However, the first quarter increased by 11%. From January to March, the port handled a total of 773,087 TEUs, Compared with 694,167 teus in the same period last year.
East Coast Port
In March, The Port of Jacksonville, Florida's Ro-Ro Volume Dropped 21% Year-on-Year. The Report Stated That The Volume of Containers In March Was 14% Lower Than The Month's Budget.
"Although the total volume fell in March, income has remained stable," said Chelsea Kavanagh, JAXPORT public information officer. "We hope to see more revenue in April, May and June. The extent of the epidemic's impact has yet to be determined. We are working closely with our ocean carriers and tenants to monitor the situation and prepare. "
Kavanagh also stated that in order to help companies in northeastern Florida manage their cash flow better during the pandemic crisis, JAXPORT has postponed the No. 64 foreign trade zone (FTZ) application fee collected before July 31. New free trade zone customers can extend the one-time $ 2,500 application fee for 90 days from the application date. The free trade zone is a safe site in the United States, but technically speaking, it is not within the jurisdiction of the United States customs. It allows shippers to clear the goods When Leaving The Free Trade Zone While Saving Import Customs Clearance Costs.
The South Carolina Port Authority said in a press release that it remains optimistic about the long-term outlook, despite the decline in imports and exports during the same period in March. The total volume of imports loaded was 76,019 TEUs, a decrease of 18.1% from the 92,875 TEUs recorded in March 2019. The export load of 73,077 TEUs decreased by 6% compared to the 77,704 TEUs in March 2019, and the air freight volume decreased by 16.1% year-on-year, from 43,534 TEUs to 36,536 TEUs.
Multinational Ports in Europe Face Paralysis
According to the British Financial Times, in the coming weeks, European ports and warehouses will see a surge of containers and will face a backlog of finished products. Before the new crown pneumonia pandemic, container ships departing from Asia arrived at their destinations but found that Demand No longer exissrs.
"Nobody wants the goods shipped to Europe. The problem lies here. The port will have a backlog of goods for four or five weeks," said Lars Jensen, CEO of the Danish "Maritime Intelligence" consulting company. "Importers will face warehouses. The Situation Is Full and Large Quantities of Goods Need To Be Sent Out, And The Can't Sell The at all. "
Three-quarters of the goods entering the EU go by sea, and 30% of the intra-EU trade is transported by ships. The suspension of the maritime terminal will quickly spread to the entire sales network. The logistics company is understaffed due to illness OR Self-Isolation of Employees, And Commodity Buyers Are Unwilling or Unable To Receive Previously Ordered Goods Due To Concerns About Cash Flow Difficulties Caused by The Economic Slowdown.
According to reports, the world's largest car handling center, Zeebrugge Port in Belgium, is taking measures to store thousands of unmanned cars, including laying gravel on dirt roads to park vehicles. Shipping companies such as CMA CGM proposed to unload the cargo in advance at the transfer station, such as unloading the cargo in Piraeus in Greece and Algeciras in Spain on the way to Europe. Some companies say that the backlog of the logistics chain may slow down the delivery of important supplies to hospitals and supermarkets.
The Reverse Route: For European Companies Exporting to Asian Markets, There Has Been A Recent Shortage Of Containers on this "Return Route".
When the Surge of Ships Arriving in Europe Is over and the Goods Are All Distributed, Cargo Handling Companies Will Face Hard Times in The Current Continental European Economic Recession.
Australian Retailers Closed, Containers Squeezed The Port of Melbourne
According to the "Times" report on April 13, Victoria's freight industry is facing a warehousing crisis. Goods shipped from China are stacked in warehouses and container yards. These goods can not be put on shelves due to the closure of stores due to the epidemic.
In the next month, Victoria will face a serious shortage of storage space. As the state may be about to implement the fourth phase of "closure" measures, many retailers and builders will be closed on a large scale by then.
It is expected that more businesses will be closed, and store inventory that remains open is low. This situation is causing a backlog of goods in Victoria's major distribution centers and container yards. The Port of Melbourne is urgently looking for an alternate storage point for storing 6-meter-long containers, because at least two export container yards are already full. Port CEO Brendan Bourke said that as 20 ships from China were cancelled due to the epidemic, empty containers that should have been exported to China last month could not leave The port.
"Due to the congestion in China's major ports last month, empty containers that should have been shipped back to China have been stranded here, and some container yards have approached or reached their maximum capacity."
According to the report, as China's trade begins to rebound, it is expected that in the next 3-5 weeks, freight orders from Australia before the escalation of the epidemic will arrive at the port. Suppliers now require transportation operators to reserve containers for extended storage, as the distribution center will be flooded with cargo. But Bourke said that even Victoria's largest operator can not meet the storage needs of all its customers, so there is an urgent need for new temporary container yards. Josh Boyd, the transportation general manager of The Logistics Company Silk Contract Logistics, Said That Its Main Customer Ishka Has Entered The Liquidation Stage, And The Sales of Other Customers Are Also Not As Good As Before.
The company operates 6 container yards and about 10 warehouses Despite its huge capacity, it is expected that there will be insufficient storage space in the coming weeks Boyd said:.. "A lot of goods are coming in We are now on the edge of. a cliff, but we have not yet collapsed. The real impact is the upcoming fourth phase of the blockade. By then, we will see the entire supply chain. Are greatly affected. "Australian Container Freight Service (Australian Container Freight Service) CEO Arthur Tzaneros said that the company's railway stock points and warehouses may store goods from other stock points in the next few weeks. The company has already Start packing goods more efficiently to create more space.
He said: "We do not think the storage crisis has arrived, but we are preparing for it." A state government spokesperson said that during the epidemic, the government is working closely with the industry to ensure the smooth flow of freight ". We have imported a Number of Measures To Ensure The Transportation of Goods, include the importing of truck curfews to ensure That Victorians Get The Important Goods They NEED.
A Large Backlog of Containers in India, Shipping Companies Announced The Suspension of Shipping
In order to prevent the spread of the coronavirus, after India implemented a 21-day national blockade on March 25, it is now extended to May 3. Now India's main container ports are facing severe traffic congestion, and major ports have basically In a state Of "shutdown"!
According to a warning from the Container Freight Station Association of India (CFSAI), Jawaharlal Nehru Port (JNPT), Mundra Port (Mundra), Pipaava Port (Pipavav) and Hazira Port (Hazira), Has been moving containers of imported goods to nearby Storage Yards, But The Containers Have Not Been Cleared by Importers, Causeing a Lot of Congend.
In addition, according to the latest reports from foreign media, due to unmanned pickups and truck drivers returning home, more than 50,000 containers are in uncleared state at container ports and freight stations such as Chennai, Kamajara and Kattupalli in India, and major ports and FREIGHT STATIONS is Congested.! at present, thousans of truck drivers have left their jobs and returned to their hometowns for isolation.
It is reported that Maersk, Mediterranean Shipping, CMA CGM, Hapag-Lloyd and COSCO SHIPPING have not called at Jawaharlal Nehru Port and Mundra Port recently, and will implement the port skip plan to reduce or stop. Calling at the ports of Javaral Nehru and Mondela.
Lars Jensen, a partner of SeaIntelligence Consulting, said that if port congestion continues, carriers will have no choice but to stop bookings for major ports in India, except for transporting goods to India at transshipment hubs such as Jebel Ali, Salalah and Colombo. It Will Affect All Goods, INCLUDING Necessities. "
Annkur Kumar, CEO and FOUNDER of Nuo Logistics Service, Said That The Congestion of Jnpt May Continue for a long time, beyond the originally scheduled lockdown period.
He added: "We will see that the goods are shipped directly to the port, and the available containers will only be used in the yard connected to the port, which will directly affect the port delivery volume, because the shipping company may encourage the early Release of the closer to the port. Container. "
"These measures will increase the logistics costs of enterprises. Because the industry is facing a shortage of manpower, road freight from inland to ports is expected to rise. The authorities have forced ports, terminals and shipping companies not to collect detention and detention during the Blockade. Period Fee, So this Will Prompt Importers to delay the clearance of goods. "
THE EUROPEAN FREIGHT Market May Shrink by Nearly 20% IN 2020
According to a new research report from Transport Intelligence (Ti), Ti's original forecast of a 2.1% growth rate of European road freight has to be completely revised with the outbreak of covid-19 and subsequent social blockade.
According to the report, the most optimistic forecast of European road freight operators is a contraction of 4.8%, and the worst-case scenario is a contraction of 17%. The report stated that this is "much worse than the Great Recession of 2008 / 9."
However, Extensive Forecasts Also Conceal Significant Difference in Different Geographies and Verticals.
The Five Largest EUROPEAN MARKETS-Germany, The United Kingdom, France, Spain and Italy, Are Expected To Fall By 5.6% in The Best Case and 21.3% in The Worst Case.
This difference depends largely on the duration of the lockdown and the impact on demand. Analysis shows that in extreme cases, if it deviates from the expected recovery path, more than one-fifth of the market value of the five major markets this year may evaporate .
Ti previously predicted that the total of the five markets will grow by 1.4%, but due to the chain reaction of the epidemic and other key industries such as automobile manufacturing, the demand for road freight operators has fluctuated sharply.
According to the report, this "has a particularly huge impact on the German market, but it also pushed the knock-on effect to Central Europe, where these services are provided. Production has basically ceased in the third week of March."
Similarly, demand in the European apparel and footwear industries has fallen by more than half, and Italy and Spain have experienced a much larger decline, and the supply of these products has been hit by Asian sourcing problems.
Even the grocery distribution industry has been plagued by considerable uncertainty. "With the development of the covid19 crisis, the situation in each economy is different, and panic buying has appeared in the UK and the Netherlands."
The report said: "The situation in France, Italy, and Spain has rapidly shifted from panic buying to collapse, demand has fallen, and supply chains have undergone drastic changes." Ti predicts that as the economy begins to emerge from the emergency phase of., a ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
The First Quarter: 400 Sea Voyages Stopped, And Air Freight Lost 40 Billion
By SEA
The latest data released by the shipping consulting agency Sea-Intelligence shows that in response to the downturn in demand caused by the spread of the epidemic, global container shipping companies have begun to reduce their operating capacity.
Globally, The Scale of Suspension of Shipping In The Maritime Industry Has Further Expanded. In The Past Week Alone, Another 83 Voyages Have Been Cancelle.